New and growing child care businesses in Pittsburgh can find forgivable loan funding and access free business education through the Childcare Reinvestment Business Fund (CRiB).
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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.
