Enterprise Launches Early Learning Facilities Fund in Washington
Similar to affordable housing, quality early learning is absolutely critical for families to succeed today and sets their children up to achieve economic mobility in the future. The evidence continues to mount that early learning is a powerful investment in our collective future. Despite the promise, Washington State is short thousands of early learning centers. We must create new childcare and preschool centers at scale to meet our families’ needs.
Enterprise's Pacific Northwest market, Craft3 and Washington Community Reinvestment Association (WCRA) are proud to announce that they are launching an Early Learning Facilities Fund. We are providing funding in the form of:
- Real estate loans to develop early learning centers
- Small business loans to upgrade facilities or equipment
- Startup loans to create new early learning centers
- Technical assistance grants for facility predevelopment
Our collective approach builds on successful models such as CEDAC’s Children’s Investment Fund in Massachusetts, the Illinois Facilities Fund, and the Low Income Investment Fund’s Child Care Facilities Fund.
We are pairing private, philanthropic and public dollars to pilot an approach to scale the creation of early learning classrooms in Washington, thanks to the Bill & Melinda Gates Foundation, Ballmer Group, the State of Washington, the Seattle Foundation, Craft3, WCRA and Enterprise Community Partners, with the support of JPMorgan Chase and U.S. Bank.
Our work to create this loan fund is also moving forward together with advocacy efforts for more public support and collaboration with early learning facilities grant programs at Washington State Department of Commerce (whose funding round is due 12/2), King County, Seattle Preschool Program and Seattle Human Services Department.
Early Learning Facilities Fund applications will be accepted on a rolling basis. Please contact James Madden, firstname.lastname@example.org, for more information.