Allows nonprofit child care providers to participate in certain Small Business Administration loan programs.
The Small Business Child Care Investment Act allows nonprofit child care providers to participate in certain Small Business Administration loan programs. These providers must comply with state licensing requirements, be tax-exempt, and primarily provide child care for children from birth to compulsory school age. They must also certify nondiscrimination in business practices. Loans over $500,000 require a guarantee of timely payment, while smaller loans do not. The proceeds cannot be used for religious activities.
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