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New
Sharpen your fundraising skills with Betsy McNamera of Full Circle Consulting
March 26 in Concord
Workshop Flyer
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Child care services are an essential and valuable community
resource. New Hampshire has a profound shortage of child
care services to support working families. There are
an estimated 106,485 children in need of care, and only
about 46,571 licensed spaces available—less than
1/2 of the current need. The child care industry also
experiences 30-50% turnover among workers who are typically
paid poorly, receive few benefits, and too often leave
the field for financial reasons. Child care programs
must balance competing economic forces, and the resulting
barriers can make it difficult for child care programs
to expand to meet the dramatic need. One significant
barrier is the lack of access to traditional capital
sources for facility expansion needs. The Loan Fund
has stepped in to meet the capital gap for early care
and education programs where financing is appropriate.
Read "Early Education's Big Dividends: The Better Public Investment" in the Spring 2008 issue of Communities & Banking magazine.
The Loan Fund has loaned more than $4 million
to nonprofit child care centers and home-based family
child care providers in the last seven years. This support
has created or preserved over 2,700 child care spaces.
The purpose of the Child Care Facilities Program is to
retain existing child care spaces and develop new ones in
New Hampshire communities. This is done by lending funds
and providing training and technical support to nonprofit
child care centers and family-based child care providers. The Loan Fund provides child care centers with technical assistance and loans for purchase, renovations, leasehold improvements, and other safety and/or licensing improvements. |
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If you have any questions, contact Julie McConnell, Director, Child Care Program, at 603-224-6669, ext. 215 or jmcconnell@theloanfund.org.
| “Early Childhood development
programs are rarely portrayed as economic development
initiatives, and we think that is a mistake. ...They
should be at the top. Studies find that well-focused
investments in early childhood development yield high
public as well as private returns.” — "Early
Childhood Development: Economic Development with a
High Public Return," Art
Rolnick and Rob Grunewald, fedgazzette, March 2003. |
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