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.
- 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.
- 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.
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
- 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
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.
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.