The Childcare Reinvestment Business Fund (CRiB) is offering forgivable loan funding for new and growing child care businesses in Pittsburgh.
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The CRiB program is designed to sustain and stimulate the growth of new and existing child care businesses in the city by providing forgivable loans ranging from $5,000 to $20,000. Providers must be provisionally or fully licensed in Pennsylvania.
Eligible uses for funding include:
Working capital
Payroll
Enrollment scholarships
Equipment
Software
Supplies
Leasehold improvements
Staff education
After one year, borrowers are eligible to apply for loan forgiveness. Borrowers who complete child care courses through programs partnered with Invest PGH are eligible for an additional $5,000.
Eligible providers can also access free business education opportunities through Chatham University’s Center for Women’s Entrepreneurship.
There is a $50 application fee. A total of 4% of the total loan is due at the loan closing, and may be paid in cash or from the loan.
Those interested in applying can start a CRiB Forgivable Loan Application.