BALTIMORE, MD (July 11, 2023) – Governor Wes Moore today announced that 67 child care facilities have been awarded a total of $11.5 million through the inaugural round of the Child Care Capital Support Revolving Loan Fund, administered through the Maryland Department of Commerce in partnership with the Maryland State Department of Education. The fund, created during the 2022 General Assembly, offers no-interest loans for capital expenses to child care providers who are licensed and participate in Maryland State Department of Education’s Child Care Scholarship Program.
“Child care providers all across our state need funding to support access to their critical services,” said Gov. Moore. “The Child Care Capital Support Fund will also help ensure that Maryland’s families have access to high-quality child care and Maryland’s children will have access to more learning opportunities.”
To qualify, a child care provider must be licensed by the Maryland State Department of Education and participate in the Child Care Scholarship Program. Funding may only be used for capital expenses related to a child care facility and includes the purchase of an existing facility or construction of a new facility, as well as expansion or renovation of an existing facility. The loan cannot be used for working capital or operational expenses.
“We are very pleased to award this first round of funding to our child care providers to help them improve or expand their facilities, or construct a new building to better serve their communities,” said Maryland Department of Commerce Secretary Kevin Anderson. “Over the past few years, we have seen a need, particularly in our rural and underserved areas, for child care providers to expand their capacity and we are hopeful this fund will help to alleviate those challenges.”
“The Blueprint for Maryland’s Future emphasizes equitable early childhood education opportunities that prepare all children for success. We must continue to urgently move the needle through creative grant making, engagement with stakeholders, and investing in high-quality strategies and initiatives to support child-care providers,” said State Superintendent Mohammed Choudhury. “The Child Care Capital Support Loan fund is an excellent complement to our existing efforts. We must continue to find opportunities to support and strengthen Maryland’s child-care system so every family across the State, no matter zip code or income, has access to high-quality early childhood education programs.”
For a full list of recipients, visit the Maryland Department of Commerce website.
