EWS
FOR IMMEDIATE RELEASE Contact: Don Canton or Brandi Pelham
September 14, 2010 (701) 328-2200
GOVERNOR LAUNCHES LOAN AND GRANT PROGRAMS
FOR DAYCARE PROVIDERS
BISMARCK, N.D. – Gov. John Hoeven announced two new programs today that will provide grants and low-interest loans for North Dakota daycare providers. Hoeven was joined by local legislators, parents and Commerce Commissioner Shane Goettle.
“We know there is demand for quality, reliable childcare providers in our state to support our young working families with children,” Hoeven said. “We believe these two programs provide funding to help stimulate the creation of more childcare options for them.”
Shane Goettle, commissioner of the North Dakota Department of Commerce which oversees the two programs, said they are intended to help childcare providers address capital needs and business planning to help daycares avoid common business pitfalls and improve the odds of long-term success.
The first program provides matching grants of up to $5,000 that can be used for infrastructure (furniture, fixtures, and equipment), and $10,000 for technical assistance or business planning. Both grants require providers to provide $1 in matching funds for every $3 in grant funds.
Hoeven made the announcement at the Junior Center for Children in Fargo. This daycare center opened a year ago with the goal of providing high-quality daycare in a learning environment. The center currently has 75 children enrolled.
Owners Rachelle Baumgartner and Jennifer Vollbrecht applauded the new grant program and said the business planning funds will be particularly useful.
“Most people are interested in this business because of the kids. They want to provide a safe, fun, comfortable environment for children to thrive,” Vollbrecht said. “Most childcare providers don’t have business experience and underestimate the complications and challenges of running a sustainable childcare business. The business planning funds are a great resource.”
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A total of $500,000 is available for the grants through June 30, 2011. The money will be distributed in two grant rounds. The deadline for applying for the first round is Oct. 31.
Funding will be equally distributed between licensed profit, non-profit and public childcare facilities. Other criteria include facility history, the importance of the facility to the community and grants to support purchasing safety equipment.
Additional information for the Child Care Grant program can be found at
http://www.communityservices.nd.gov/community/child-care-grant-program/ .
The second program provides up to $100,000 in low-interest loans from the North Dakota Development Fund to acquire, lease, or remodel real estate, to purchase equipment or for working capital.
The loan program has $1.25 million and applications are available at http://www.business.nd.gov/forms/north-dakota-development-fund-forms/. Both programs are available until June 30, 2011 and are available to all licensed profit, nonprofit and public child care facilities.
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