Arlington Child Care Loan Program

The Arlington Child Care Loan Program provides an incentive to new child care providers to provide services in the City of Arlington.

The program provides a matching forgivable loan for actual expenses relating to the cost of opening a child care business in the City of Arlington, up to $1,000 per child care provider. Qualifying expenses must be approved by the Sibley County Child Care Licensor and the Arlington EDA Director. Approved requests will be funded on a first-come/first-served basis until all funds are expended. In addition, the opportunity exists that the Arlington Economic Development Authority’s revolving loan programs could be available to assist with the costs of opening a child care business.

ELIGIBILITY
1. Only new child care providers located within the City of Arlington are eligible for the loan program.

2. All items for which the child care provider is requesting funds must be approved by the Sibley County Licensor and the Arlington EDA Director.

3. Items purchased prior to EDA approval will typically not be eligible for funding unless the EDA finds significant underlying purposes for work beginning prior to project approval (i.e. inability of quorum for a meeting, and the like).

4. Funds may be requested for the following items (up to):
 Licensing fee ($100)
 Background study fee ($100)
 Pre Licensing training ($175/per person)
 Ongoing training ($250/per person)
 Fire Marshal visit, if needed ($50)
 Smoke Detectors ($10/each)
 Fire extinguishers ($35 )
 Outlet plugs ($4)
 Stationary baby gate ($60)
 First aid kits ($15)
 Utensils/plates/cups ($30)
 Pack n Play ($120)
 Pack n Play sheet ($10)
 Cots ($120)
 High chair/booster seat ($40)
 Fluid Cleanup kit ($15)
 Potty seat/chair ($20)
 Monitor ($40)
 Toys for each age group ($200)
 Craft supplies ($200)
 Strollers ($100)

5. Other uses may also be eligible if prior approval is obtained by the Sibley County Licensor and the Arlington Economic Development Authority.

PROJECT GUIDELINES
Program oversight and authority for loan approval is delegated to the City of Arlington Economic Development Authority. The Economic Development Authority shall review loan applications and may approve loan issuance after considering the following guidelines:

1. Completed applications will be reviewed on a first come, first served basis.

2. Preference will be given to projects which:
 Will create new child care slots and reduce the gap in the number of child care slots in the City of Arlington.
 Demonstrate a ratio of private investment to public investment greater than 2:1

3. The proposed expense receipts must be submitted within (6) months of loan approval. If the receipts are not submitted within six months, the Applicant may resubmit a child care loan application for reconsideration.

LOAN DISBURSEMENT
Following loan approval the Lessee shall execute a promissory note. Awarded loan funds will be dispersed to the child care provider upon submittal of receipts or invoices for supplies purchased.

REPAYMENT OF LOAN
The amount of the loan (without interest) will be due and payable to the Arlington EDA one (1) year following the distribution of loan funds. If, however, the child care business to which the loan was granted remains in business in one (1) year following the distribution of loan funds, the loan shall be forgiven by the Arlington EDA.

 

Click here for full loan details and loan application. 

Speak Your Mind

*