When parents can find quality, affordable childcare, it can literally change their lives. No one knows that better in the Los Angeles and San Bernardino area than Child Care Resource Center (CCRC). The organization builds bridges between local families and the services they need.
We are proud to be an integral part of CCRC’s recent purchase of a building in the Antelope Valley. We attended the ribbon cutting on September 27and celebrated CCRC’s purchase of 250 Grand Cypress Avenue in Palmdale with the CCRC staff and other community supporters. CCRC was already leasing the building to house some of its administrative functions, and watching them transition to owning the building was tremendously rewarding.
Using Municipal Bond financing, CCRC secured a loan through Grandpoint Bank to buy the building and ensure that more than 70 members of its staff could remain at that location. This seamless transition in location means nothing will interrupt their good work to provide child care financial assistance, training, technical assistance and other workforce development opportunities. The CCRC staff at this location also work with the Palmdale School District to offer Head Start preschool and wraparound services.
By using this unique loan structure and transitioning to mortgage payments rather than lease payments, CCRC will reduce its costs. Any boost to the bottom line means an already phenomenal agency can provide even more help to tens of thousands of families each month, such as securing childcare referrals, sending parents back to work, reducing childhood obesity and generally supporting the welfare of children throughout Northern Los Angeles and San Bernardino counties.
“CCRC had some special loan requirements, so we all moved mountains to make sure the organization could rely on Grandpoint to support the type of loan that would best suit the long-term sustainability of the organization and to provide the banking services it needed,” said Arlet Hur, Senior Vice President at Grandpoint Bank.
Grandpoint and its divisions work with many non-profit organizations throughout Southern California, Arizona and Western Washington.
“We genuinely love working with non-profit organizations, and we’ve tailored a lot of our services specifically to them, including our non-profit money market account,” Arlet added.
Founded in 1976, CCRC services a 22,500-square-mile area and provides tens of thousands of child care referrals each year. The organization maintains a book/toy/resource lending library; offers programs for combatting obesity; provides preschool education, meals and medical and vision exams for kids; offers training to help childcare providers, other non-profits and families; promotes literacy through various programs; and even provides gifts for kids who may not otherwise receive any.