Background
This program responds to a need in the child care industry for access to small amounts of capital to start, improve and expand child care operations. This micro loan approach grew out of research into peer lending applying basic principles to the child care industry. Working with the Systems Subcommittee of the Child Care Coordinating Committee and other key stakeholders in the micro loan community, the project has been crafted over the past three years. Goal The goal is to build a stronger system. Micro loan capital will be invested in communities as a magnet to draw together critical service sectors such as the local health department, resource and referral program, business development community, early childhood and school age care community, health and safety network, and others, to improve child care services for working families. It will help to encourage the creation of strategic alliances for family support. It will build on initiatives such as Healthy Child Care Washington State, the Baby/Toddler Initiative, Washington STARS, and Building Blocks, by providing access to capital linked with training and technical assistance. It will strive to create community based micro loan programs as self-sustaining resources. Project Details This micro loan initiative will be focused on providing affordable resources to licensed or certified child care centers and family child care homes. It is expected to improve the availability, quality, and affordability of child care for low and moderate income families in Washington. Special consideration will be given to programs serving children receiving state subsidies. Funds Available Financial assistance in the form of loans up to $25,000 are available to eligible applicants. Child Care Micro Lenders In cooperation with five community lending institutions throughout Washington, the program is able to make available nearly $1 million in small loans for child care providers at low interest rates. Loans are available to help pay for start-up facility costs, health and safety improvements, and minor renovation expenses. Click here to access list of Child Care Micro Lenders. For More Information Contact Tom Stilz at (360) 725-4045Contact Amanda Jackson at (360) 725-4034
Child Care Technical and Financial Resources
Updated November 2006