CCRLF

Child Care Revolving Loan Fund

What It Is

The state of North Carolina through the Division of Child Development has invested $4 million in a Child Care Revolving Loan Fund (CCRLF) that Self-Help administers.

North Carolina child care providers can access these funds by applying for a loan from Self-Help for upgrades such as playgrounds, van purchases or minor renovations to their home or centers. 

Eligible Projects

To qualify for financing using CCRLF your organization must be:

• A family child care home, center (for-profit and nonprofit), Head Start agency, or church-based program,
• Located in North Carolina or
• Operating or planning to operate a registered or licensed child care program,
• Operating three or less centers, if a for-profit center, and
• Registered to serve subsidized children

CCRLF funds can be used for:

• Starting up or expanding a registered/licensed program
• Increasing the quality of care by upgrading to a larger child care home/center, making changes to meet the requirements for NAEYC, NAFCC certifications, or the State’s star-rated licenses
• Complying with state and federal laws regarding child care and the Americans with Disabilities Act.

 
CCRLF funds cannot be used for new construction or construction that adds square footage to or makes substantial renovations to a facility.

Benefits and Requirements

Qualified borrowers are eligible to receive a 5% fixed  interest rate on up to $75,000 of their loan. Self-Help will determine the amount of each child care loan that is eligible for CCRLF funds.

Please contact us to learn more.