The mission of the Columbia County Capital Resource Corporation (CRC) is to promote economic development, job creation and job retention in the non-profit and for profit sectors for the citizens of Columbia County by aiding in the establishment of new businesses and the enhancement of existing businesses within the County, lessening the burden of government and acting in the public’s interest.
Specifically designed to assist not-for-profits, the Columbia County Capital Resource Corporation encourages community and economic development. The CRC is able to assist not-for-profits by undertaking capital projects and providing lower-cost financing programs. Using the CRC as a tool, lenders receive financial benefits on loans they provide to qualified not-for-profits, thereby lowering the cost to the borrower.
With the establishment of the CRC in 2009, some of Columbia County’s largest not-for-profit employers are now able to add facilities and equipment at a cost savings.
An example of a business that may benefit from CRC financing programs is health care facilities. In Columbia County, Columbia Memorial Hospital is the largest private employer. Lowering the cost of their financing has allowed the hospital to move forward with projects that would not have been feasible.
Municipal governments may also qualify for CRC assistance with capital projects. The CRC can also be used to refinance existing debt.