YaSheka Taylor, A+ Nursery and Daycare >
Childcare Business Loan
If you are a licensed childcare provider of more than 3 years and are only require a loan. Take advantage of our Fast Track process (specific requirements below).
Who this loan is for
This loan is designed for licensed childcare businesses that need fast access to capital for specific operational and improvement needs.
To qualify, businesses must:
- Operate in any U.S. state except Vermont
- Hold a childcare license for more than 3 years
- If licensed for less than 3 years, businesses should apply for the Business Term Loan instead
What this loan offers
- Loan amount: Up to $25,000
- Interest rate: 9.99%–15.99% fixed
- Term: Up to 60 months
- Fast-track process for quicker decisions and funding
How this loan can help
Loan funds may be used for the following purposes, up to the listed limits:
- Working capital: up to $10,000
- Education and training: up to $5,000
- Furniture and equipment upgrades: up to $10,000
- Materials and supplies: up to $5,000
- Renovations to physical space: up to $20,000
These uses are designed to strengthen quality, safety, and long-term sustainability.
Before you apply
If you found Ascendus through an online search, we ask that you first connect with a local business resource partner before applying.
Partners like an SBDC, bank, or community organization can help you prepare a stronger application and improve your chances of success.
Clients who take this step are typically better prepared for the loan process.
Once you’ve worked with a partner, you can move forward with your application.
Just include their name when asked “How did you hear about us?”
Need help finding one? Find your local SBDC
What to expect
To be eligible, applicants must meet these requirements:
- Credit score: Minimum FICO score of 575
- Debt history:
- No more than $3,000 in unpaid or past-due debt
- Bankruptcy must be discharged for more than 1 year for loans up to $25,000, or more than 2 years for loans up to $50,000
- No repossession or foreclosure completed within the last 2 years
Revenue and employee thresholds are not specified for this program.
Fees to know upfront
We believe in transparency. Here are the costs associated with this loan:
- $200 application fee
- 5% closing fee
- $30 direct deposit fee
- $80 UCC filing fee
- Florida only: State stamp tax of $0.35 per $100 borrowed (or portion thereof)
No cost to apply online. These fees are included in the loan and only apply if the loan is approved and disbursed. There are no out-of-pocket expenses during the application process.
the impact of access to childcare
Childcare is one of the most important investments we can make in the future. Access to affordable, quality childcare provides a triple bottom line to communities: children who benefit from early education; parents who benefit from participation in the workforce; and childcare providers who create jobs and income for themselves and their employees. Daycares provide over 4 million children and parents with opportunity every day, but access and affordability are still challenges – half of American families don’t have access to affordable childcare. Investing in the growth and strength of the small businesses who provide childcare is more important than ever.
Since my first loan with Ascendus, I have increased my staff, the number of children I can serve, and raised my credit score by 90 points.
Ascendus has really gotten me into a good habit of keeping up with my finances, making sure I’m noting what’s going out the door and what’s coming in. It’s been a really great learning experience that’s given me confidence and consistency.
You guys are amazing. Very reliable. I can rely on you all. Like if I need help I could definitely depend on you guys.
become our partner in childcare
Ensuring that every parent has access to affordable, quality childcare requires a coalition: a network of clients, partners and donors working together to provide every childcare business with the needed resources to serve both themselves and their communities.
Ascendus is working to build that coalition: to connect the individuals and organizations that together, can bring security and opportunity to our country’s children and parents. Partner with us today and help us in bringing this mission to life.