Early Years Centre Expansion Low-Interest Loan Pilot Program
The Early Years Centre Expansion Low-interest Loan Pilot Program has been designed in partnership with the Department of Education and Early Years and Finance PEI to provide applicants with the opportunity to access financing for new construction and/or fit-up of existing Early Years Centres. This funding is intended to facilitate the creation of additional licensed childcare spaces for families on PEI.
To be eligible for the low-interest loan, applicants need to commit to the facility being utilized as an Early Years Centre and complete the PEI Early Years Centre Location Suitability Tool. Scoring of the PEI Early Years Centre Location Suitability Tool involves a weighted score that will considering program delivery priorities at this facility such as infant and toddler spaces, extended hours of operation, and not-for-profit business status.
This new Early Years Centre Expansion Low-Interest Loan Pilot Program also includes a non-repayable Capital Grant which provides 20% of the total project costs of new construction or fit-up of existing Early Years Centre’s to a maximum of $200,000 per project.
For more information, please visit the following link.