Childcare Development Forgivable Loan Program
Renville County strives to promote our local childcare community. We know that the availability and affordability of quality childcare is crucial to families and our local economy.
The Renville County HRA/EDA’s new Childcare Forgivable Loan Program can assist with the creation of new and expansion of existing childcare providers within Renville County.
• Home childcare providers are eligible for forgivable loans of up to $5,000.
• Childcare centers are eligible for forgivable loans of up to $10,000.
• Eligible applicants include new home childcare providers and centers and those expanding capacity.
• Loans are for five years, with 20% of the loan being forgiven for each year in operation after receiving the loan. If the borrower remains in business for five years after making of the loan, the loan is 100% fully forgiven.
• Loan repayments shall be deferred for five years, or until the provider ceases operation, whichever is first.
• Eligible uses may include improvements to the childcare space, equipment and supplies.
Childcare Development Forgivable Loan Application
To learn more, call the Renville County EDA at 320-523-3656 or email EDA@renvillecountymn.com .