$25,000 RIHEBC HELP Loan Will Allow RI Computer Museum To Purchase Electric Kit Cars For Schools
PROVIDENCE, R.I. – The Rhode Island Health and Educational Building Corporation (RIHEBC) has closed on a $25,000 Health & Education Loan Program (HELP) loan to the Rhode Island Computer Museum. The loan will allow the museum to purchase and distribute F24 Kit Cars, electric vehicles that are assembled and then raced by students of all ages as part of a school’s project-based learning / science, technology, engineering, and math (STEM) curriculum.
“RIHEBC created our HELP loan program to assist Rhode Island’s smaller non-profits and educational organizations obtain financing for projects that meet their missions,” said Kim Mooers, Executive Director of RIHEBC. “We are thrilled that our very first HELP loan will allow the Rhode Island Computer Museum to purchase F24 Kit Cars for school districts across Rhode Island whose students will assemble and race them. What a great hands-on way to learn STEM skills.”
“At the Rhode Island Computer Museum, part of our mission is inspiring young people interested in future careers in computer, science, and technology fields,” said Dan Berman, Executive Director of the Rhode Island Computer Museum. “This $25,000 HELP loan from RIHEBC will allow us to meet our mission by purchasing F24 Kit Cars, a fun and engaging project-based learning package for young students to learn critical STEM skills while building and racing electric cars. Obtaining traditional bank financing for this program proved challenging, and that is why we are so thankful for RIHEBC’s HELP loan program.”
HELP Loan Basics
Eligibility
- Rhode Island not-for-profit institutions and cities, towns, and school districts.
- HELP applicants must have been in existence for at least 3 years and have operating revenues of $10 million or less.
- Not-for-profit examples include mental and physical healthcare providers; child day-care centers and institutions of secondary and post-secondary learning; cultural organizations like museums and performing arts centers; recreational facilities like YMCAs and Boys and Girls Clubs; and community service providers such as homeless shelters and after-school programs.
Loan Options
- $25,000 to $250,000 loans
- Terms of 3, 5, 7, or 10 years
For more information and HELP loan application details, visit rihebc.com/help.
For more information about F24 Kit Cars, visit: http://www.f24greenpower.org.
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About RIHEBC
The R.I. Health and Educational Building Corporation for the past 56 years has provided financing for non-profit health and educational institutions in the state as well as municipalities for school projects. It has issued over $10 billion in tax exempt bonds and is the largest financing agency of the state. rihebc.com – Twitter: @RIHEBC1
About the Rhode Island Computer Museum
The Rhode Island Computer Museum (RICM) is a nonprofit 501(c)(3) organization established in 1999 in Rhode Island to preserve our rich vintage computer history and offer a glimpse of the past. RICM's mission statement is "procuring and preserving items that relate to computer science and its history; disseminating knowledge, and encouraging research in computer science by means of visits, lectures, discussions, and publications. Inspiring young people for the future workforce by saving old and new technology. ricomputermuseum.org