Daycare Financing

If your looking to finance a childcare but your credit just won’t get it First Children’s Finance is a company that can make your dreams come true! First Children’s Finance provides training, business-development assistance, workshops & seminars for in marketing, business plans, software applications, business reference library, access to attorneys and CPAs, and free confidential and individualized one-on-one consulting.

This company provides capital and business-development assistance to childcare businesses to expand or start child care either within a home or building to improve the quality of the facility, purchase a new building, add on, remodel or upgrade. If you need to purchase supplies, equipment, fulfill licensing requirements, manage cash flow or simply strengthen or grow your childcare business they will provide for that as well. Loan amounts range from $1,000 to $125,000.  Take a look at the list of requirements below.

Requirements

• Located in the states of Iowa, Kansas, Michigan, Minnesota, Missouri, North Dakota, South Dakota, or Texas
• Own or lease the child care facility
• Be licensed by the appropriate state agency, or show that you will become licensed as a result of the loan
• Be prepared to provide collateral and make an equity investment in the business
• Currently serve, or be prepared to serve, children whose families qualify to receive childcare assistance

Other Companies

The Association for Enterprise Opportunity (AEO) assists underserved entrepreneurs in starting, stabilizing, and expanding businesses. Opportunity Finance Network® (OFN) can connect your business to a national network of Community Development Financial Institutions (CDFI). They have a track record of originating more than $23.2 billion in financing in urban, rural, and Native communities.

Alternative financing has its disadvantages; many lending companies are unregulated by federal or state governments, and generally conduct business in any way they want to. Although the lenders have flexibility policies, you may find yourself in a sticky situation challenging with the way they conduct business.