Child Care Loan Program

Medium

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
BORROWER Any licensed child care provider
FUNDING LIMIT Maximum of $100,000 per location or based on availability of funds
INTEREST RATE 2.5% - Fixed
TERM 1-10 years, dependent upon project
MINIMUM EQUITY
REQUIREMENT
N/A
CREDIT SCORE REQUIRED 640 or higher, otherwise need additional guarantor that qualifies
PERSONAL/CORPORATE
GUARANTEES
Yes
QUALIFICATIONS A licensed North Dakota child care provider
COST AND FEES $250


Applications are reviewed on a first come, first-serve basis. Applications and supporting information should be submitted via email to smattson@nd.gov.

For question regarding the Child Care Loan Program, please contact Samantha Mattson, 701-328-7252.

North Dakota Child Care Loan Program Application

FAQ

Additional Resources:

Accountability Information Release

North Dakota Women's Business Center