arrow_back Back to App

Financial Support for Nonprofit Child Care Providers

This new act aims to make it easier for nonprofit child care providers, such as daycares and preschools, to access loans. This means more such facilities can obtain financial support for development or ongoing operations, potentially increasing the availability of child care for parents. The act specifies which providers are eligible for these loans and what conditions they must meet.
Key points
Nonprofit child care providers (daycares, preschools) can now apply for small business loans.
Providers must meet state licensing requirements, be non-profit organizations, and conduct employee background checks.
Loans up to $500,000 do not require additional guarantees; amounts above that do.
The act prohibits denying loan applications based on the provider's religious activities.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_2602
Sponsor: Rep. Lee, Susie [D-NV-3]
Process start date: 2023-04-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Small Business Child Care Investment Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2602.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-04-13.

What are the main provisions?

Key points include:

  • Nonprofit child care providers (daycares, preschools) can now apply for small business loans.
  • Providers must meet state licensing requirements, be non-profit organizations, and conduct employee background checks.
  • Loans up to $500,000 do not require additional guarantees; amounts above that do.
  • The act prohibits denying loan applications based on the provider's religious activities.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lee, Susie [D-NV-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Family Economy