EAST LIVERPOOL, Ohio (WYTV) – Scholastic Endeavors, an educational management company, received a $30,000 small business loan to help with the cost of three new charter schools in the area.
The Community Improvement Corporation granted the 90-day bridge loan to the downtown-based company. The bulk of the loan, $20,000, will be used for advertising. The remaining $10,000 will be split between supplies, fees and licenses and rent.
One of the charter schools will be located in the former New Life Academy building on Fifth Street in downtown East Liverpool. The other two will be in Boardman and Canton, according to Scholastic Endeavors Chief Operating Officer Leighann Smith.
All three schools already have been approved by the Ohio Department of Education and will open in September. However, Smith said state subsidies won’t start coming in until October, making the bridge loan necessary.
Scholastic Endeavors employs four full-time people, but it expects to have 20 in the near future and eventually expand to 100 employees. Teachers will be hired, and Smith said positions will be offered to teachers from St. Aloysius Catholic School, which closed in June.
The school also is expected to attract former St. Aloysius students.