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ABCD Fund Financing Options
Planning Grants
Planning grants ranging from $10,000 to $20,000 are available for early-stage project readiness activities and cover expenses such as:
- Site feasibility analysis
- Market studies
- Financial analysis and funded development planning
- Other third-party work to determine project feasibility
Predevelopment Loans
Predevelopment loans of up to $100,000 are designed to provide child care center operators or facilities developers the funding they need to undertake and support development projects up to the start of construction. These loans will support predevelopment costs such as:
- Phase I and II environmental assessment
- Inspections
- Architectural and consultant services
- Permits
- Loan and legal fees
- Acquisition costs (in some cases)
The terms include 3 percent deferred interest and repayment periods of up to 3 years.
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 of 5 percent with maximum interest rates of 8 percent and repayment periods of up to 3 years.
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 40 years, repayment periods of up to 10 years, and average interest rates of 5 percent with maximum interest rates of 8 percent.
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