Daycare Start Up
 

How did you get the funds to start up your daycare. Not really looking for in home options. I would love to find a grant to start a daycare facility in my town that just provided care for "early childcare" birth-3. We have one licensed facility and few in home options in a town of 2700 that has several large employers that bring in lots of out of town employees.
I just don't have funds to buy an area and start up and be licensed with out grants or loans...

Any ideas?

Welcome to the forum. likethis

Grants for startups are pretty rare. Develop a business plan and get a small business loan. The SBA can help you through the entire process up to $50k. Grants come later, once you are already in business.

If you are starting small you could get a home equity loan, this worked for me (although I got an SBA loan later too). You can get an awesome deal on some loans.

Good luck! It's an exciting venture:-)

We got $100k........by refinancing our home during the real estate boom of 2005. :eek: Extremely risky move. I don't recommend this, as you may very well lose everything.
I agree with Missy. Grants are rare. Loans are a better option, especially if you want to purchase the real estate for a center. The terms for sale of commercial real estate can be super tricky, so be careful. We got a loan from Fifth Third Bank, they had good rates and terms. I've also heard community banks are good sources for funding.

You will also need start up money of your own. either you refinance you home to get the money or you have it in savings or borrow from a relative. SBA will not loan you money if you have no money.

I see you are in Missouri a common way is to start in home. If you can separate from the family space you can start with a group license for 20. It is unlikely you will do 20 infant toddlers though because the of cost for staff 1-4

Most infant programs are feeders for the preschool program. The need for infant care is a given but is it at a price they will have to pay for center care.