Treasurer Announces Short-Term Funding Relief for Pre-K Counts Programs, Head Start Providers
The Pennsylvania Treasury Department’s Budget Bridge Loan program will now accept applications from Pre-K Counts programs and organizations that provide rape prevention and response services as well as domestic violence prevention and support services for survivors, state Treasurer Stacy Garrity announced this week.
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Eligible organizations must use the Budget Bridge Loan for immediate operating expenses as indicated by the loan agreement. Funds will be received shortly after an application is approved.
In late September, Garrity announced $500 million in Budget Bridge Loans for Head Start providers and county governments to help support vital human services. Treasury expects to be able to expand the program to Pre-K Counts and rape and domestic violence prevention programs without increasing the original program amount.
The Treasury Department will reach out directly to Head Start programs and county governments. Those who enter into a loan agreement will be required to pay back the initial investment along with a 4.5% annual interest rate within 15 days of state funds being released following the enactment of a state budget for Fiscal Year 2025-26. Providers eligible to apply for the loans will receive communication directly from the Treasurer’s Office with instructions on how to apply.
“The response to Treasury’s short-term funding solution has been positive, and I’m pleased to be able to expand this program to include organizations that provide critical services to more children and also to survivors of rape and assault,” Garrity said. “I’m using the tools available as state treasurer to make sure critical services can continue without interruption. These loans are a lifeline.”
For more information, read the Treasury Department’s announcement on the loan program.
While we continue to advocate for a final budget with early childhood investments, this is welcome relief for Pre-K Counts and Head Start programs.