LIIF Supports Child Care & Education Facilities during California Budget Crisis
Among the most serious implications of California’s budget crisis was the delay of millions of dollars in payments to community facilities relying on state funds, such as child care centers and charter schools. Without their expected payments, these organizations struggled to cover expenses and had to consider service reductions or even closure.
LIIF issued over $6 million in emergency repayable grants to child care programs waiting for payments through the support of the City and County of San Francisco, First 5 San Francisco and First 5 Alameda/Every Child Counts. These funds kept 3,700 children in quality child care programs, enabled parents to keep working and avoided layoffs and closures in centers in both counties. In addition, LIIF participated in the California Charter Schools Association’s $6 million Charter School Growth Loan Program that provided bridge financing for schools waiting on state payments. LIIF partnered with the lead lender, the Nonprofit Finance Fund, and Enterprise Community Partners to provide much-needed working capital to 10 California schools during the state’s budget crisis. LIIF’s funds for child care centers and schools were a temporary and critical lifeline that kept children in programs, teachers working and youth in school.