Fourteen child care facilities in the county received a combined $1.3 million in no-interest loans from the state to assist with capital expenses by funding expansions and renovations, according to a press release.
Last week, Gov. Wes Moore announced that 67 child care facilities had been awarded a total of $11.5 million in the inaugural round of the Child Care Capital Support Revolving Loan Fund. The Fund was created during the 2022 General Assembly and is operated by the state’s Department of Commerce and Department of Education.
In order for a child care provider to qualify for loans, it must be licensed by the Department of Education and be a participant in the Child Care Scholarship Program. The money can only be used for capital expenses, such as the purchase of a new facility or renovations of an existing one. The loans can’t be used for working capital or operational expenses, according to the press release.
“Child care providers all across our state need funding to support access to their critical services,” Moore said in the press release. “The Child Care Capital Support Fund will also help ensure that Maryland’s families have access to high-quality child care and Maryland’s children will have access to more learning opportunities.”
These are the 14 child care facilities located in Montgomery County that received loans:
- Busy Bees FD LLC, $400,000
- The Kids House Bilingual Child Care, $200,000
- Anila’s Child Care Center LLC, $175,000
- Mi Escuelita Child Care LLC, $81,000
- Family Child Care Provider, $60,000
- Maryam’s Learning Cottage, $49,855
- Sweet Child Care, $47,600
- Shah Daycare, $45,000
- Sara Uddin Family Daycare, $45,000
- Gloria Roa Hernandez DBA: My First Adventures Child Care LLC, $43,500
- Nuvia Martinez Family Child Care, $35,000
- CyCy’s Happy Child Home Family Daycare, $30,000
- Sandra Nelum Ratnayake, $30,000
- Rossana Espinoza-Thorndahl, $25,000
See the full list of recipients here.
Congratulations to the 14 Montgomery County childcare businesses that just received money from the state of Maryland @MDBiz to renovate or expand through a no-interest loan. This is a way to relieve the burden of capital expenses on business owners. https://t.co/B9LhdWFWAL pic.twitter.com/bWwuz2X7yL
— County Exec Marc Elrich (@MontCoExec) July 14, 2023
