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
Additional Resources:
Accountability Information Release
North Dakota Women's Business Center