Child Care Business Loan: A Summary of Two Child Care Loan Programs
Child Care Business Loan: A Summary of Two Child Care Loan Programs

Two Child Care Provider Loan Programs

 

Option 1
TCC Child Care Provider Loan Program
First Children's Finance Loan Program
Application fee: No
Size of loan: $300 - $3,000 (Over $3,000 possible)
Interest rate: 8%
Business Plan required: For loans over $3,000
Technical assistance: Yes
Free business training: One-credit or equivalent
Forgiveness factor: No

 

For more information Contact Us, call or write:
TCC
501 LeMieur St.
PO Box 368
Little Falls, MN 56345-0368 
Little Falls Phone: 320-632-3691
Brainerd Phone: 218-829-2410

Option 2
First Children's Finance Loan Program
Application Fee: $25
Size of loan: $2,000 - $5,000
Startup: Up to $25,000 for established providers
Interest rate: 7%
Business Plan required: Yes
Technical assistance: Yes
Free business training: No
Forgiveness factor: 15% of principal for some loan

 

For more information call or write:
First Children's Finance
212 Third Ave. North
Suite 310
Minneapolis, MN 55401
Phone: 612-338-3023

 

Benefits of Both Programs
Finances child care business-related needs as expansion and remodeling, program relocation, equipment and start-up. Combines loans with technical assistance to offer borrowers the maximum opportunity for success.

 

Eligibility - Both Programs
Children in applicant's care must be from households with incomes within MN Basic Sliding Fee Program guidelines (County reimbursement/pay). Be able to demonstrate that appropriate financing cannot be obtained elsewhere. Be licensed or seeking license (family or center).

  • Contact Usfor more information about the Child Care Business Loan Program.