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FOR IMMEDIATE RELEASE
CONTACT: Dawn
A. Jones
(302) 737-1358 or or (215) 704-2615
KD Communications Group
Dawn@kdcomm.com
First State Community Loan Fund Partners
With Community Organizations to Award $10,000 to Home Based
Childcare Providers
Business Plan Competition for Home Based Childcare Providers
WILMINGTON, Del. – Continuing in its tradition of
helping budding childcare providers, First State Community
Loan Fund has partnered with the Delaware Family Child Care
Alliance and other Delaware community organizations to sponsor
a business plan competition for Home Based Childcare Providers.
FSCLF anticipates giving out equity awards of $2,000 each
to five home based childcare providers. Funding for the program,
technical assistance and equity awards has been provided
by the Citigroup Foundation.
The Home Based Childcare Providers Business Plan Competition
encourages home based child care provider participants to
write a business plan outlining how an equity investment
will grow their business. Applications for the competition
must be received in the First State Community Loan Fund office
by February 28, 2007 and full business plans are due by April
30, 2007. The program culminates with an awards ceremony
in June at Delaware State University where the five equity
awards will be distributed.
To be eligible to submit a business plan, participants must
be a Delaware-licensed Family (level 2) or a Large Family
Childcare provider and must have a State of Delaware business
license. The award proceeds must be used to improve the operations
and/or quality of care that the childcare provider offers.
Further eligibility criteria and submittal guidelines will
be available at www.firststateloan.org.
The Business Plan partners are the Nehemiah Gateway CDC,
Delaware Family Child Care Alliance, Family and Workplace
Connection, Delaware Small Business Development Center Network,
Delaware Center for Enterprise Development and the YWCA of
Delaware. The business plan partners will provide technical
assistance (training courses and/or one-on-one consulting)
to competition participants in order to help them prepare
for the competition.
“
We are very pleased to be partnering with First State Community Loan Fund on
this initiative,” said Shay Frisby, Program Coordinator, Nehemiah Gateway
CDC. “The competition will be a fun way for providers to clarify the
vision they have for their businesses and it will strengthen their potential
for future endeavors,” Frisby added.
“This is a great initiative. We are anticipating 30
or more providers to participate in the competition,” said
Vandell Hampton, Jr., Executive Director of FSCLF. “The
completion of a business plan will increase the capacity
of the providers and enhance the quality of care for the
children that they serve.”
FSCLF is a not-for-profit Community Development Financial
Institution that specializes in supporting micro-enterprises,
small businesses, developers of affordable housing and other
community organizations throughout the State of Delaware.
FSCLF has made significant strides in childcare lending over
the past several years. Since 2003, FSCLF has made seven
loans to childcare providers, totaling $245,500.These loans,
which have gone to both home-based providers and childcare
centers, have resulted in creation/retention of 483 childcare
slots and 48 jobs.
The Delaware Family Child Care Alliance is a project of
the Nehemiah Gateway Community Development Corporation. The
purpose of the Alliance is to build capacity for home based
childcare providers through business training, networking,
and advocacy on policies which impact the industry. Since
the Alliance started two years ago, 420 providers have become
members and over 500 have attended workshops which are certified
by the Office of Childcare Licensing.
The Citigroup Foundation supports organizations that help
people improve their lives, businesses to grow, and communities
to prosper around the world. The Citigroup Foundation focuses
its grants primarily in three areas: Financial Education,
Educating the Next Generation, and Building Communities and
Entrepreneurs. Additional information can be found at
http://www.citigroupfoundation.org.
For more information on the business plan competition, contact
First State Community Loan Fund at (302) 652-6774 or visit
www.firststateloan.org.
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