Child Care Entrepreneurs
Financing Your Child Care Dream
We understand the passion and dedication it takes to provide quality child care. That’s why we offer flexible, innovative loans to help child care entrepreneurs like you to achieve your dreams. We listen, champion your story and support you at every stage of your entrepreneurial journey. Whether you’re just starting out, expanding your existing program, or making facility improvements, we have a loan product to meet your needs.
Contact Lending Support
Lending Support Navigator, Haley Ramsey
Direct: 612-223-7239
haleyr@firstchildrensfinance.org
Loan Amounts
- Family Child Care Businesses: Up to $25,000
- Center Child Care Businesses: Up to $125,000 ($50,000 max for start-ups)
- Start-up Definition: A child care business that has been in operation for two years or less
Interest Rates
- Interest rates start at 8% and are determined during underwriting. Factors that can affect the interest rate include past credit history and collateral available.
What Can You Use the Loan For:
- Facility Improvements (Including in-home improvements if home-based)
• Heating and Cooling Systems
• Flooring
• Fencing and Sheds
- Learning Materials, Equipment, and Toys
• Playground Equipment
• Furniture and Appliances
- Business Operations/Working Capital (including payroll)
• Training and Professional Development
• Computers and Software
- Purchasing Land and/or Facility (often with a funding partner)
Important Considerations Before Applying
The process from first contact to loan closing does take time, so reach out early and start the conversation now. This way, we can ensure you get the funding you need when you need it.
We cannot proceed with a loan if you are currently in legal proceedings, have had a recent bankruptcy (we can consider 24 months after discharge), or outstanding tax obligations.
We look at credit history but do not have a minimum credit score requirement.
Ready to Apply?
Contact Lending Support
Haley Ramsey, Lending Support Navigator
Direct: 612-223-7239
MN SBA Microlender SBA CA SBLC Guarantee Program – MN, MI, IA, ND, SD, IA, MO, WI Only