The North Dakota Development Fund, Inc. is authorized to provide financial assistance to new and expanding child care providers through the Child Care Loan Program.
Eligible Organizations: Licensed profit, nonprofit and public child care facilities. Faith-based organizations are eligible but must follow all appropriate federal guidelines if receiving federal subsidies.
Eligible Uses: The Child Care Loan Program funds may be used for the acquiring, leasing, or remodeling of real estate facilities, purchasing equipment or working capital.
|Childcare Loan Program
|Any licensed child care provider
Up to $1,000,000 per location and based on availability of funds.
The Childcare loan program can fund 100% of projects up to $100,000.
Projects over $100,000 must have a 50% match by a combination of owners equity and a loan from a financial institution. (e.g., for the construction of a childcare facility costing $600,000, the NDDF’s max participation is $300,000, with the remaining dollars coming from a combination of owners equity/loan from a financial institution).
|2.5% - Fixed
1-10 years for loans $100,000 or less, dependent upon project.
Loans greater than $100,000 will follow the terms established by the financial institution.
|CREDIT SCORE REQUIRED
|640 or higher, otherwise need additional guarantor that qualifies
|A licensed North Dakota child care provider
|COST AND FEES
Applications are reviewed on a first come, first-serve basis. Applications and supporting information should be submitted via email to email@example.com.
For question regarding the Child Care Loan Program, please contact Samantha Mattson, 701-328-7252.
NDDF Child Care Loan Program Portfolio
A Childs Garden, LLC
CAFF Property Group, LLC
Chess 7205 2nd, LLC
Christ United Child Care LLC
Crew Properties LLC
LK Brons LLC
Lost Creek Properties, LLC
River of Life Church
Sheyenne Learning Academy, Inc
Star City After School Care, LLC
The Gingerbread House Learning Center LLC
The Learning Circle, Inc
Viscito Investments, LLC