WELL Fund Provides New Funding for Lumen Public School
Enterprise Community Partners is excited to announce the closing of an additional loan through our Washington Early Learning Loan (WELL) Fund. Enterprise, Washington Community Reinvestment Association (WCRA) and Craft3 created the WELL Fund to offer low-cost financing to create or expand childcare centers serving low-income families. This particular loan was completed by the dedicated diligence and technical assistance of Craft3 lenders to provide a construction loan to Lumen Public School that will revitalize their childcare center.
Lumen Public School is a non-profit charter school designed to support pregnant and parenting teens. Located in the city of Spokane, WA, Lumen’s mission is to offer educational pathways for teen parents that leads to high school graduation, positive parenting, and future life success. Lumen provides a supportive educational environment, parenting support, connections to further educational and technical training, and career resources and mentoring. Lumen believes in empowerment, and their onsite early learning center encourages teens to feel as though their role as parents will not be at odds with their role as students. The childcare facility serves primarily low-income students. This loan will be able to provide 80 childcare slots serving children ages 0-5 and will have facilities to provide meals for both the students and their children. The childcare slots will not only serve enrolled teens but will offer slots to the larger Spokane community which is facing a critical shortage that has been further exacerbated by the Covid-19 pandemic.
Lumen has played a critical role in the lives of local parenting teens. Their services along with a revitalized high-quality early learning center will allow them to continue supporting parents and ensure their future success. We are honored to support this continued work and would like to offer many thanks to our partners, Craft3, and to the Ballmer Group whose funding has allowed the WELL fund to offer accessible and equitable financing for childcare providers throughout WA state.