Co-ops can theoretically access capital through debt, which does not require trading equity for cash. This is how republican governments like the U.S. (which ar

Co-ops can theoretically access capital through debt, which does not require trading equity for cash. This is how republican governments like the U.S. (which are cooperative enterprises) finance capital-intensive projects, for example. That said, debt financing is typically harder and scarier than equity for start-ups.