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CHILD CARE LOANS
CHILD CARE FINANCING IN CALIFORNIA
Interest-only Development Loans
Interest-only development loans of up to $1 million are designed to enable worthwhile facilities projects to come to fruition, providing capital on an interim basis until the project can be financed with a permanent loan. They can be used for:
- Real estate acquisition
- Construction
- Rehabilitation
The terms include average interest rates with repayment periods up to 2 years. Interest rates may vary.
Amortizing Loans
Amortizing loans of up to $1 million. These loans provide longer-term real estate financing for projects that have successfully completed the facilities development process and can be used to repay acquisition, construction, or rehabilitation loans. These loans have amortizations of up to 30 years and repayment periods of up to 10 years. Interest rates may vary.
For more information on child care loans in California, please contact:
Jon Dempsey
Senior Program Officer
ABCD Initiative
jdempsey@liifund.org
(213) 627-9611, extension 122
CHILD CARE FINANCING IN NEW YORK
Pre-development Loans and Lines of Credit
- Maximum loan of $500,000 unsecured; $3.5 million secured
- Term of three years, more in some instances
Acquisition, Bridge, Construction, Mini-perm Loans
- Maximum loan of $750,000 unsecured; $3.5 million secured
- Term of two years for acquisition, construction and bridge loans
- Term of 10 years for mini-permanent loans, with longer amortization as needed
Permanent Loans
- Minimum loan of $500,000 and a maximum of $7 million
- Term of up to 30 years, fully amortizing
For more information on child care loans in New York, please contact:
Claudia Siegman
Program Manager
New York Child Care Seed Fund
csiegman@liifund.org
(212) 509-5509 x
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