FCF Loans Increase Program Quality in Iowa
“Financing from FCF has helped me to invest in the quality of my child care business.”
Meet Lori Stamp.
Lori is a registered Child Development provider since 1989 in DeWitt, Iowa, where she operates Lori’s Little Ones and serves 25 full and part-time children. Through collaboration with First Children’s Finance, she has improved her business operation and increased the program’s quality care.
What was the Challenge?
Lori needed financing to improve her program for licensing and quality rating goals. She was searching for a lender who understood the challenges of operating a small child care business and learned about First Children’s Finance from her child care resource and referral agency.
How did First Children’s Finance assist?
FCF funded a series of loans during a 12-year period, totaling $60,000, and provided 100+ hours of technical assistance.
FCF loans covered:
Facility improvements such as constructing a shade/shelter area; enclosing a balcony for additional program space; remodeling with bathrooms, repairing a driveway; and upgrading the playground and play area surface.
Equipment updates included new computers, swings, cots, and toys for children with special needs.
Program improvements have increased the quality of the child care environment and her participation in quality rating programs.