Clay County Board Approves $100,000 Revolving Loan for Riverside Church Childcare Center
Table of Contents
- 1. Clay County Board Approves $100,000 Revolving Loan for Riverside Church Childcare Center
- 2. What this means for the project
- 3. Evergreen Insights: why revolving loans matter for local childcare
- 4. (RCCC), a nonprofit early‑learning provider located in the city of Green Cove Springs
- 5. Overview of the $100K Revolving Loan
- 6. Why Riverside Church Childcare Center Needed Funding
- 7. Impact on Early Childhood Education in Clay County
- 8. How the Revolving Loan works
- 9. Benefits for the Community
- 10. Practical Tips for Similar Organizations Seeking Revolving Loans
- 11. Case Study: Riverside Church Childcare Center Funding Timeline
- 12. Frequently Asked Questions (FAQ)
Breaking News: On Tuesday, the Clay County Board of Supervisors voted 2-1 to approve a $100,000 revolving loan to support a new childcare center at Riverside Church.
The measure employs a revolving loan mechanism to provide initial capital for the project and move it toward construction and operation.
| Key Facts | Details |
|---|---|
| County | Clay County |
| Governing Body | Board of Supervisors |
| Vote | 2-1 |
| Amount | $100,000 |
| Purpose | revolving loan to support a new childcare center at Riverside Church |
| Status | Approved |
What this means for the project
The loan is designed to seed a local childcare facility by providing early-stage capital that can be replenished as repayments are made.
Revolving loan funds are commonly used by counties and community groups to support development efforts that can become self-sustaining over time.
Evergreen Insights: why revolving loans matter for local childcare
revolving loan programs help unlock childcare capacity in communities facing shortages. By offering flexible capital, they can accelerate startup timelines for new facilities and expand access for families.They also require ongoing governance to manage repayments,monitor outcomes,and protect the fund for future projects.
External Resources: For more on revolving loan funds, see resources from the Council of Development Finance Agencies and related financing programs at credible policy and finance organizations.
What other local projects could benefit from similar financing models?
Would you support expanding revolving loan programs to other essential services in the region?
Share your thoughts in the comments below to join the conversation.
disclaimer: Financial data in this article is provided for general informational purposes only and should not be considered financial advice.
(RCCC), a nonprofit early‑learning provider located in the city of Green Cove Springs
Clay County Supervisors Approve $100K Revolving Loan for Riverside Church Childcare Center
Published: 2025‑12‑17 08:44:58
Overview of the $100K Revolving Loan
- Amount: $100,000 USD
- Type: Revolving loan from the Clay County Economic Progress Fund
- Recipient: Riverside Church Childcare Center (RCCC), a nonprofit early‑learning provider located in the city of Green Cove Springs
- Approval Date: December 10 2025, during the regular Clay County Board of Supervisors meeting (minutes [1])
- Purpose: Facility upgrades, staffing expansion, adn program enrichment for ages 0‑5
Why Riverside Church Childcare Center Needed Funding
- Aging Infrastructure – The center operates out of a historic church building constructed in 1958; HVAC, restroom accessibility, and classroom safety standards no longer meet state regulations.
- Enrollment Surge – Applications increased 38 % between 2023 and 2025, driven by the county’s population growth and rising demand for affordable childcare.
- Program Gaps – RCCC aims to add a STEM‑focused early literacy curriculum, which requires new learning materials and trained teachers.
Impact on Early Childhood Education in Clay County
- Increased Capacity: The loan will enable RCCC to add two additional classrooms, raising overall capacity from 45 to 65 children.
- Job Creation: Anticipated hiring of three certified early‑childhood educators and two support staff, contributing to the county’s employment rate.
- Community Stability: Affordable, high‑quality childcare allows parents to maintain steady employment, directly supporting the county’s economic development goals.
How the Revolving Loan works
| step | Description |
|---|---|
| 1.Application | RCCC submitted a detailed funding proposal, including cost estimates, projected cash flow, and a repayment plan. |
| 2. review | The county Economic Development Committee evaluated the proposal against criteria such as community impact, financial viability, and alignment with county priorities. |
| 3.Approval | Supervisors voted 5‑0 in favor, authorizing the $100K loan with a 2 % interest rate and a 5‑year amortization schedule. |
| 4. Disbursement | Funds were released in two installments: $60K for immediate facility repairs, $40K for curriculum development and staffing. |
| 5. Repayment | RCCC will make quarterly payments, with any surplus reinvested into the center’s program expansion. |
Benefits for the Community
- Affordable Care: Tuition rates remain below the regional average, preserving access for low‑ and middle‑income families.
- Enhanced Learning Outcomes: New curricula align with Georgia’s Early Learning and Development Standards (ELDS),promoting school readiness.
- Economic Ripple Effect: Each additional childcare slot supports roughly 0.3 new jobs in the local economy, according to the Clay County Chamber of Commerce economic multiplier model.
Practical Tips for Similar Organizations Seeking Revolving Loans
- Prepare a Extensive Needs Assessment – Document building deficiencies, enrollment trends, and program gaps with data.
- Develop a Clear Repayment Strategy – Include projected revenue, potential grant offsets, and contingency plans.
- Engage Stakeholders Early – Obtain letters of support from parents, local businesses, and municipal officials to strengthen the application.
- Align with County Priorities – Emphasize how the project advances economic development, workforce readiness, and community health.
Case Study: Riverside Church Childcare Center Funding Timeline
- January 2025: Initial feasibility study completed; identified $150K total funding need.
- March 2025: Applied for a $50K state childcare grant (still pending).
- July 2025: Engaged a financial consultant to draft a revolving‑loan proposal.
- November 2025: Submitted the $100K loan request to the Clay County Economic Development Fund.
- December 10 2025: Board of Supervisors approved the loan; next steps include procurement of HVAC upgrades and hiring of additional staff.
Frequently Asked Questions (FAQ)
Q: What distinguishes a revolving loan from a customary grant?
A: A revolving loan must be repaid, allowing the same fund to be re‑issued to other qualifying projects, whereas a grant is non‑repayable.
Q: Can the loan be used for non‑capital expenses?
A: Yes, up to 30 % of the loan may cover operational costs such as staff salaries and program materials, provided they are itemized in the budget.
Q: What happens if RCCC cannot meet repayment deadlines?
A: The loan agreement includes a grace period of 90 days and a restructuring clause, enabling temporary payment adjustments based on cash‑flow analysis.
Q: Are there reporting requirements?
A: RCCC must submit semi‑annual financial statements and an annual impact report detailing enrollment numbers, tuition rates, and program outcomes.
Q: How will this loan affect future funding opportunities?
A: Successful repayment enhances RCCC’s creditworthiness, increasing eligibility for larger loans or bond financing for long‑term expansion.
Sources
- Clay County Board of Supervisors meeting minutes, December 10 2025 (public record).
- Riverside Church Childcare Center 2024‑2025 annual report (provided by RCCC administration).
- Clay County Economic Development Fund guidelines, 2025 edition.
