The Maryland Department of Commerce announced that applications are open for the Child Care Capital Support Revolving Loan Fund, which was passed during the most recent General Assembly session.
The fund will operate in partnership with the Maryland State Department of Education and provide no-interest loans for capital expenses to child care providers who are licensed and participate in MSDE’s Child Care Scholarship Program. Applications will be accepted through Oct. 31.
In addition to being licensed by MSDE and participating in the program, priority is given to eligible child care providers that meet the following criteria:
● Located in underserved communities or areas designated by MSDE as lacking available child care slots;
● Located in rural communities;
● Serving primarily low-income populations in areas of high poverty;
● Serving children with special needs; and
● Serving children ages 2 and younger.
Funding may only be used for capital expenses related to a child care facility including the purchase of an existing facility or construction of a new facility, as well as expansion or renovation of an existing facility. The loan cannot be used for working capital or operational expenses.
For more information, contact Caroline Kimani 410-767-0939 or [email protected].