Areas Served: Statewide New Jersey
UCEDC’s First Steps’ child care loan program provides short term loans to both home and center-based child care operations, including centers operated by non-profit organizations in New Jersey. Funding is available for both start-up and existing centers. Funds may be used for supplies or equipment; staff training or conferences; health and safety needs; specialized curriculum, such as High Scope; expansions or renovations to non-leased property; or a portion of working capital. Microloans up to $50,000, based on operational history, are offered to both new and existing centers. Loans are for a maximum of six years, with a fixed rate from 9.0% – 10.25%. Closing fees apply, but you may prepay without penalty. Business Growth Fund loans are available for existing centers (36 months+) at rates that vary from 7% to 9% for a maximum term of ten years. Application fees may apply plus applicable closing costs, but you may prepay without penalty.
Contact InformationUnion County Economic Development Corporation New Jersey
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