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Childcare Provider Loans
Affordable childcare is an essential resource for a community to grow and prosper. This can't happen without committed childcare providers. That is why SCCCU has developed the innovative Childcare Revolving Loan Fund.
We recognize how vital childcare providers are to our community. While most commercial lenders don't serve this industry at all, SCCCU has created access to very low interest rates on short-term loans.
- The Basics
- Very low 3% interest rate
- Loans up to $15,000
- Terms up to 2 years
- Available to childcare providers serving low-income families
- Exclusive SCCCU program
- Personal service through every step
- Simple, streamlined application process
In addition to low-interest loans, local childcare providers have access to free business training, technical assistance, fiscal analysis, and more through ChildCare Ventures, a program of Santa Cruz Community Ventures.
- How It Works
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Contributors make tax-deductible donations to Santa Cruz Community Credit Union. These deposits serve as full or partial collateral, which enables SCCCU to make low-risk, low-interest loans to childcare providers. And since it is a revolving fund, loan repayments replenish the fund making the money available to other providers.
Any of the region's licensed child care providers—both private and nonprofit—are eligible. Loans are used to modernize equipment, purchase educational materials and toys, improve facilities, obtain technical assistance, and meet short-term cash flow needs.
