Child Care Entrepreneurs
Financing Your Child Care Dream
We understand the passion and dedication it takes to provide quality child care.
Your Experience:
- Slim profit margins with specialized staffing needs
- Traditional lenders overlook your unique business model
- Struggling to build financial stability despite your essential role in local economies
Our Commitment to You:
We offer innovative, sustainable, and flexible loans backed by a dedicated team that walks with you:
From your first call.
Through understanding your story.
To closing your loan.
All the way through repayment.
We’re here, even when your story has a few rough chapters.
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 and Fees
- Interest rates start at 8% and are determined during underwriting.
- Factors that can affect the interest rate include past credit history and collateral available.
Application Fees
- Family Child Care: $25
- Center Child Care: $100
Closing Fees
- Processing fee: 1 percent of total loan amount
- Any third-party fees
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
Timing Matters:
- The process from first contact to loan closing takes time
- Reach out early and start conversation now to ensure funding when needed
Eligibility Requirements:
- Cannot proceed if you’re in legal proceedings
- Cannot proceed with recent bankruptcy (However, 24+ months after discharge can be considered)
- Cannot proceed with outstanding tax obligations
Credit Assessment:
- We review your credit history
- No 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