fixed-rate loans for providers

We lend to child care and early education programs, especially those serving low- and moderate-income communities. We understand the business and will work with you to strengthen and grow your program.

Eligibility

• Nonprofit and for-profit child care organizations and Head Start programs serving children and families with low- and moderate-incomes or with special needs
• Center- or home-based child care programs licensed (or about to be licensed) by the state's Child Care Licensing Unit.

Purposes

• Purchase, build, expand, renovate or improve buildings
• Fulfill state licensing requirements by making related improvements
• Energy or accessibility improvements
• Leasehold improvements (in circumstances where the improvements can be matched to lease terms)
• Meet short-term cash flow or timing needs where there is a designated source of repayment
• Restructure debt or other financial obligations to improve an organization’s long-term viability.

Terms

Loan terms are typically matched to suit a project, but general terms are as follows:

• 1-20 years
• Fixed rates (contact us for current rate)
• 1% origination fee
• Legal and associated closing costs paid by borrower

Criteria

• Benefit to families with low and moderate incomes. Particular focus on organizations that serve families on the state child care scholarship program.
• Long-term benefit and social impact
• Ability to repay the loan
• Other financial support

Approval

Loan requests are analyzed and recommended to the Community Loan Fund’s Loan Review Committee.

Successful applicants are mailed a commitment letter outlining the terms of the loan for their review and signature.

To apply

Submit a loan inquiry online, or call us at 224-6669. If your project is eligible, we’ll work with you on your application and on assembling any needed materials.