Child Care Lending Initiative

Loan FAQs

What are loans used for?

• Deposit funds, predevelopment work, to purchase property (often in conjunction with a bank), to make improvements (especially for safety, and/or to meet licensing requirements), to purchase equipment (including playground equipment and toys).

• For family child care, loans can be used to improve child care space, meet licensing requirements, purchase equipment, and other needs.

What is the interest rate?

Contact us for current rates.

What is the term of the loan?

The term is negotiable, based on the type of loan.

Does the Loan Fund take collateral?

Yes. Where appropriate, a Loan Fund loan is secured by a mortgage on real property and, in some cases, other collateral.

What are the fees?

Contact us for current fees.

How soon can the Loan Fund make a decision on a loan request?

The turnaround on a loan request is generally one month. If a shorter turnaround time is needed, the process may be expedited.

Contact Information

If you have any questions, contact Julie McConnell, Director, Child Care Program, at (603) 224-6669, ext. 215 or jmcconnell@theloanfund.org.