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Santa Cruz Community Credit Union

Program

STCR offers many banking services as well as lending programs.

Small Business Lending Program has been committed to creating economic opportunity by providing business loans to local small and microenterprise businesses. SCCCU provides small business loans for as little as $500 and up to several million. SCCCU offers a large spectrum of loan products, from microloans for new businesses, to larger loans for established and growing businesses. SCCCU finances a variety of businesses including retail, agriculture, child care, construction, manufacturing, and nonprofits. The

Child Care Revolving Loan Program offers child care loans to qualified borrowers at an interest rate as low as 3%. Loans are from $1,000 to $15,000 for terms up to sixty months.

The Individual Development Account (IDA) is an outstanding asset building tool for qualifying individuals of very low-income. Each dollar saved for a specific goal (first-time home purchase, continuing education or job training, small business capitalization) is matched by two dollars by STCR. The unusually high savings limit ($15,000, the total of the participants' savings plus the matching funds) is enough to make a serious, long-term impact in the quality of life of the participant.

Investments by individuals, as well as institutions such as Calvert Foundation, provide the lending capital.

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