Loans

Since 1991, the Fund has lent over $7 million to 75 borrowers, to help improve 8,000 ECE and OST slots, 82% of which serve low-income children in Massachusetts. 

Loan Eligibility

We lend to center-based programs serving children from birth to age 14.  All programs must be located in Massachusetts. 

Eligibility for loans is restricted to: 

• Nonprofit organizations
• EEC licensed programs, or those in the process of securing a license
• Programs serving low income children – for loans, 25% of your enrollment must include children who meet EEC income eligibility guidelines

Types of Loans

Construction loans up to $350,000 per project or $500,000 per borrower

• Flexible terms, typically at 7.5% interest for a 10-year term 
• 1% fee is dues at the loan closing
• In some cases, we make larger loans or amortize a loan over a longer period

Pre-development loans of $10,000 - $15,000

• Interest-free loans for early planning costs
• Loan can be forgiven if the project does not proceed. 
• We will consider larger pre-development loans for qualified borrowers

Loans include free technical assistance with project planning and development. We take loan applications continuously, and prefer to talk to providers early in the planning process. Call us if you have a project in mind.