The Child Care
Fund
If you are a child care provider
in need of financing, Cascadia Revolving Fund may be able to
help. We understand the financial hurdles many child care providers
face. The cost of providing high quality child care is considerable.
Playground equipment, supplies, facility renovations, ongoing
maintenance, and staff additions all cost money.
Cascadia’s Child Care Fund
helps Washington and Oregon based child care providers manage
the expense of implementing program improvements by offering
low-interest loans and technical assistance to providers who
don't qualify for traditional bank financing. Many program improvements
can help providers become licensed to care for more children,
boost profit margins, and improve the long-term prospects of
the business.
Quick Loan Facts
- Childcare providers may obtain
a loan of up to $500,000
- Interest rates range from 8-10%
- Loan term lengths range from
12 to 84 months
- Monthly loan payments may be
as little as $130, depending on the amount, rate, term and closing
costs of the loan
What can loan
funds be used for?
Child Care Fund loans have been
used to finance major projects such as center and home expansions
and improvements and smaller projects such as fencing a playground,
purchasing supplies and equipment, and installing child-sized
bathroom fixtures.
Technical Support
Cascadia works with child care
providers both before and after a loan is made to make sure that
the financing provided by the Child Care Fund is the right solution
for the provider’s needs. Our in-house business consultant
offers one-on-one counseling to help providers better manage
both their personal and business finances. In addition, we offer
all King County-based child care providers the opportunity to
participate in personal financial management classes, provided
in cooperation with Child Care Resources and the Boeing Employees
Credit Union.
Our business consultant also
writes articles covering business issues for child care providers.
To read the most recent article click
here.
Getting Started
For more information contact
Child Care Fund manager Mary Ann Johnson at (206) 447-9226 ext.
103 or maj@cascadiafund.org.
She will explain the loan process to you, and help you determine
if a Child Care Fund loan is right for your business. If appropriate,
Mary Ann will coordinate an initial meeting with our in-house
business consultant.
After talking with Mary Ann,
download the following three documents.
Loan
Application (PDF
document To download a free copy of Adobe Acrobat Reader click
here.)
Personal
Financial Statement (PDF
document)
Cashflow
projections (MS Excel spreadsheet. This
requires 8x14 paper)
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1901 NW Market
Street, Seattle, Washington 98107
Phone (206) 447-9226 w Facsimile (206) 682-4804