The state of Maryland announced that 67 child care facilities have been awarded a total of $11.5 million through the inaugural round of the Child Care Capital Support Revolving Loan Fund. The fund is administered through the Maryland Department of Commerce in partnership with the Maryland State Department of Education.
To qualify, a child care provider must be licensed by the MSDE and participate in the Child Care Scholarship Program. Funding may only be used for capital expenses related to a child care facility; that includes the purchase of an existing facility or construction of a new facility, as well as an expansion or renovation. The loan cannot be used for working capital or operational expenses.
“The Blueprint for Maryland’s Future emphasizes equitable early childhood education opportunities that prepare all children for success. We must continue to urgently move the needle through creative grant making, engagement with stakeholders, and investing in high-quality strategies and initiatives to support child-care providers,” said state Superintendent Mohammed Choudhury. “The Child Care Capital Support Loan fund is an excellent complement to our existing efforts. We must continue to find opportunities to support and strengthen Maryland’s child-care system so every family across the State, no matter zip code or income, has access to high-quality early childhood education programs.”
The fund, created during the 2022 General Assembly, offers no-interest loans for providers who are licensed and participate in the MSDE’s Child Care Scholarship Program.