Non-profit Child Care Support: New Funding Opportunities
This act makes it easier for non-profit child care providers, like daycares and preschools, to access loans. This means they can get financial support for their operations and growth, potentially leading to more available and higher quality child care options in your community. Remember, these facilities must meet specific licensing and background check requirements.
Key points
Non-profit child care providers can now apply for small business loans, which was previously not allowed.
These loans are provided through banks and other financial institutions, not directly by the government.
Facilities must meet state licensing requirements and conduct employee background checks.
The act requires annual reporting on loans issued, increasing transparency.
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