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Child Care Loan Program
The 61st North Dakota Legislative Assembly has provided an additional use for the North Dakota Development Fund resources - The Child Care Loan Program.
Purpose: Provide financial assistance to North Dakota Child Care Providers.
Term: July 1, 2009 through June 30, 2011.
Allocation: $1,250,000 for the biennium.
Eligible Organizations: Licensed profit, non-profit and public child care facilities. Faith based organizations are eligible but must follow all appropriate federal guidelines if receiving federal subsidies.
Eligible Uses: Maximum of $100,000 for the acquiring, leasing, or remodeling of real estate facilities, purchasing equipment or working capital.
Application Process: The completed application for the North Dakota Child Care Loan Program, plus all required attachments should be mailed to:
North Dakota Development Fund
North Dakota Department of Commerce
1600 East Century Avenue, Suite 2
P.O. Box 2057
Bismarck, ND 58502-2057
Local Participation: Participation of the Child Care Provider Financial Institution will be encouraged.
Funding Process: North Dakota Development Fund staff will review the application for all required information and complete their due diligence. If the request is acceptable to the staff, the request will be presented to the North Dakota Development Fund Board of Directors for approval. If approved, a commitment letter will be generated. If the commitment letter is accepted by the Child Care Provider, the funding documentation will be completed. The funding process generally takes 30 to 45 days. Funding program effective until June 30, 2011.
Other Conditions: The enabling legislation that provided the funds for this program requires an equitable distribution of funds to the three eligible organizations: for-profit, non-profit and public child care facilities. Therefore, the Development Fund might have to allocate dollars to the three organizational areas to ensure that the funds are being distributed equitably. Initially, the funds will be provided on a first-come, first-serve basis.
- The business must be a licensed Child Care Provider (Provide copies of license to operate in the State of North Dakota).
- Facilities will be required to provide a letter from either County Child Care Licensors or from the Department of Human Services Early Childhood Services Regional Supervisor that the facility does not have a history of violations and/or corrective actions.
- If there is a history of violations and or corrective actions facilities will need to provide:
- A three year "Early Childhood Service History" from either County Child Care Licensors or from the Department of Human Services Early Childhood Services Regional Supervisor; and
- Provide an explanation of changes that have been made to correct the violations and a letter from County Child Care Licensors or from the Department of Human Services Early Childhood Services Regional Supervisor that corrective action has taken place.
- The acceptability of the documentation will be at the sole discretion of the North Dakota Department of Commerce/North Dakota Development Fund in consultation with County Child Care Licensors or Department of Human Services Early Childhood Services Regional Supervisor for that county.
Contact Information: Questions regarding the program can be directed to the North Dakota Development Fund at (701) 328-5310.
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Child Care Grant Program
The 61st North Dakota Legislative Assembly also provided $500,000 of one-time funding grants to assist North Dakota child care providers with infrastructure and technical assistance/business plans beginning July 1, 2009. If you'd like information, please visit the Child Care Grant Program.
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