January 25, 2012
CASPER, Wyo. – The Community Development Block Grant (CDBG) Child Care Facility Loan Program still has funds available to provide reasonably priced loans to licensed child care providers in Wyoming.
The purpose of the loan program, jointly funded and administered by the Wyoming Business Council and the Wyoming Women's Business Center, is to create jobs for low and moderate income people, expand child care capacity for existing providers, increase the number of licensed providers, and alleviate greater workforce and economic development constraints posed by the lack of available licensed child care within Wyoming communities.
A pre-loan questionnaire must be submitted to either the Business Council or Women’s Business Center offices in person or via e-mail by 5 p.m. Feb. 29. Following that review, a loan application must be submitted to the Wyoming Women's Business Center no later than March 31. All forms may be found at: http://www.wyomingbusiness.org/program/cdbg-child-care-facility-loan-program/5403.
All loan recipients must be licensed child care providers. If interested participants are not currently licensed, they will be required to become licensed as part of the loan agreement.
Home-based providers may apply for loans ranging from $1,000 to $35,000; and center-based providers may apply for loans ranging from $1,000 to $50,000.
Loans may be used for new and existing child care facilities and operations in their start-up or expansion, or for improvements related to health and safety. Funds may also be used to upgrade or improve kitchens, air conditioning and heating systems, natural lighting, roofs, plumbing including additional toilets and sinks, electrical upgrades, installation or renovation of egress windows, playground equipment, security systems, smoke alarms and fire alarms, accommodations to serve children with special needs or to comply with the American Disabilities Act (ADA), interior reconstruction to expand capacity, and other improvements that increase capacity or are made in an effort to comply with licensing standards.
If newly created jobs are still in existence three years after the completion of the improvements, 50 percent of the original loan amount will convert to a grant.
For more information regarding the loan program, contact Julie Kozlowski at 307-777-2812 or julie.kozlowski@wyo.gov or Farrah Rhea at 307-760-2698 or email frhea@uwyo.edu.
The mission of the Business Council is to facilitate the economic growth of Wyoming. The Business Council, a state government agency, concentrates its efforts on providing assistance for existing Wyoming companies and start-ups, helping communities meet their development and diversification needs, and recruiting new firms and industries targeted to complement the state’s assets. For more information, please visit www.wyomingbusiness.org.
