Virginia Small Business Financing Authority

Child Care Financing Program

Through our Child Care Financing Program, VSBFA provides low-interest installment loans to "regulated" Providers in the Commonwealth of Virginia. A "regulated" Family Home Provider may be: 1) licensed by the Virginia Department of Social Services (DSS); 2) registered through the Voluntary Registration Program 3) part of a Licensed Family Day Care System; or 4) participating in the USDA Food Program. A "regulated" Center-based Provider may be: 1) licensed by the Virginia Department of Social Services or 2) filed as "religious-exempt" with the Virginia DSS. Both for-profit and non-profit entities are eligible to apply. Start-ups are also eligible to apply.

Loan proceeds can be used to meet or maintain childcare standards, including health, safety or fire codes or to make quality enhancements to their child care program. Loans may also be used for certain start-up costs; however, loans for building construction, working capital or to refinance or consolidate existing debt are not eligible under this program. Some examples of eligible uses include equipment purchases for infant care, playground equipment and fencing, educational materials, and childrens furniture. Financing buses for transporting children is an eligible use for a child care center. Interest rates are fixed at prime minus 3%.

The maximum loan amount for Family Home Providers is $10,000 and the repayment term may be up to seven years. There is a $15.00 nonrefundable application fee. Applicants must complete the Family Home Provider application and submit to VSBFA with all attachments for consideration.

The maximum loan amount for Center-based Providers is $150,000 and the repayment term may be up to seven years. There is a $100.00 nonrefundable application fee. Applicants must complete the Center-based Provider application and submit to VSBFA with all attachments for consideration.

Click here for a Child Care Financing Program Fact Sheet in a printer friendly format.

Click here for a Child Care Center-based Provider Financing Program Application.

Click here for a Child Care Family Home Provider Financing Program Application.