VCLF's Child Care Loan Program
The Vermont Community Loan Fund believes that early education provides an essential foundation for our children's growth and development.
We also understand that a parent's ability to find quality care is an essential piece of their ability to find and hold onto the job that supports their growing family.
Quality facilities are a key component of quality child care, so we provide loans and technical assistance for private, nonprofit, home- and center-based child care providers in Vermont. We are especially interested in child care programs that serve infants and toddlers, children from low- and moderate-income households and children with special needs.
VCLF makes loans to Vermont child care programs that:
- Operate under the regulations of the Vermont Child Care Licensing Division
- Are licensed centers and registered and licensed homes
- Are center-based and home-based programs that are in the process of becoming licensed or registered
- Improvements to meet Vermont Core Standards
- State regulatory requirements
- Improvements to meet ADA accessibility standards
- Renovations or additions to improve programs or increase capacity
- Purchase of equipment and materials to improve quality of service
Rates and Terms
- The current interest rate is 7%.
- Terms range from several months up to 30 years.
- Term, rate and repayment schedule is project specific and based on project need and strength of proposal.
- There is an application fee of $25. An origination fee totaling 1% of the total loan amount and a loan documentation fee of $125 are due upon closing. Expenses incurred for the recording of collateral documentation and anticipated discharges of such documentation are also due at closing.
- Collateral is required on fixed assets, inventory and receivables. VCLF may also require security in the form of personal guarantees, collateral on personal assets or a cosigner.
Maximum Loan Amount
- The current maximum loan amount will not exceed $350,000.
How to Apply
Please contact Maria Lamberti, Loan Coordinator for Child Care Programs, at (802) 224-9141, or by email, for more information.
You may download information and pre-application sheets:
Important Links for Child Care Providers