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.
Your Experience:
- Passion and dedication to provide excellent child care
- Slim profit margins with specialized staffing needs
- Traditional lenders overlook your unique business model
Our Solutions:
- Flexible, innovative loans to help you achieve your dreams
- Team members who listen and champion your story
- Support at every stage of your entrepreneurial journey
- Options for starting out, expanding programs, or improving facilities
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
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