SEED Makes Business Loan to Crayon College in Plymouth

Crayon College at Plymouth has recently received two business loans from The South Eastern Economic Development (SEED) Corporation totaling $130,000. The financing provided the daycare, located at 109 South Meadow Road, with working capital and will enable the creation of two new jobs. The SEED lender for the project was Angela Laperriere.

“We are extremely satisfied with the streamlined process of getting our loan approval from SEED Corporation,” stated Lucinda Morgan, co-owner of Crayon College. “We have worked together in the past and our experiences have always been positive. SEED has been a major contributor to our success.”

Established in 2007, Crayon College at Plymouth is a full-service daycare offering infant, toddler, and pre-school programs. Co-owners Lucinda and Kristin have created a unique curriculum that encourages socialization, language acquisition, and development of small and large motor skills. With smaller-than-average class sizes, Crayon College facilitates comfortable interaction between children in a non-judgmental environment which helps boost self-image.

Prices are determined based on age, however Crayon College does offer discounts for families with multiple children enrolled. The daycare offers services two to five days per week from 6:30 am to 6:00 pm, and is open year round. For more information, visit their website at www.crayoncollege.us.

SEED Corporation is a non-profit economic development organization certified in 1982 by the U.S. Small Business Administration.  SEED is a Community Development Financial Institution (CDFI) under the U.S. Department of the Treasury and the SBA Micro Lender for the region. Under various programs, SEED makes loans from $1,000 up to $5.5 million to assist small businesses to grow and create jobs throughout the region.

Under the SBA 504 Program, SEED can provide up to 40 percent of the financing needed behind a bank for the purchase of buildings and equipment with a life of 10 years. SEED’s portion can range from $120,000 to $5 million for most small businesses, and $5.5 million for manufacturing businesses, at a fixed interest rate below market for 20 years, currently 5.34 percent.

For more information about the SBA 504 Program and other SEED loan programs, please call 508-822-1020 or visit SEED at www.seedcorp.com.

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