 | First Children’s Finance Growth Fund: Social enterprise at its best. Jerry Cutts
2/16/2010 4:39 PMThe idea of social enterprises – organizations applying market-based strategies to achieve a social purpose – has become widely discussed in recent years as a way to bring together the best of business with the best of intentions to do good. Both nonprofits and for-profits are emerging as social enterprises, sharing commitments to community and effective business practices. And the movement is growing around the world.
For First Children’s Finance, however, social enterprise is not a new idea. We have invested in innovative strategies to strengthen child care businesses, communities and early care and education systems for nearly 20 years. During that time, we have developed and supported the development of high quality child care in low income communities, provided nearly $8 million in loans and grants that launched, expanded or improved over 300 early care and education businesses and impacted over 13,000 child care spaces.
The First Children’s Growth Fund, for example, was created in 2006 to link private investors and business experts to child care businesses committed to quality care for lower income families. Centers in five states are receiving grants and technical assistance to develop and implement plans to sustain and grow their businesses. We work with early care and education businesses often over several years, because we know that helping businesses to grow, become financially self sufficient and develop community leadership takes a significant investment over time. We invite you to learn more about our Growth Fund. Two participating centers are highlighted in this e-newsletter. They are great stories about what happens when you combine the passion of a group of child care providers with the expertise of volunteer business and child care leaders.
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