Loans are one way the City may expend the funds to increase child care spaces. It is one way for child care providers and/or developers to borrow funds specifically to develop, expand, or otherwise enhance child care facilities or family child care homes. 

As detailed in the Interim Child Care Fund Guidelines, there are great benefits to a loan; they are interest free, no payments, and loan is forgiven. Borrowers are required to document a minimal set of performance criteria in the Annual Performance Report. If those criteria are met, borrowers are assuring compliance with the loan documents, and the child care facility is functioning in a safe, trusted, and responsible manner, the loan results in a type of grant.

The loan application will be an on-going process as long there are sufficient funds available for a viable loan. There are no specific dates to apply and applications will be considered in the order received by the City. The most important consideration is that projects with the highest level of readiness will be considered in order of receipt of a complete application.

Steps to applying for a loan:

1. Child Care Startup Guide. The first important step is to review the Guide. It provides a lot of information that will help inform the planning for the project proposal.
2. Site Assessment Report. If you have a property that you are either considering purchasing or leasing, or if you already own property that you'd like to use for child care, you will need to request a Child Care Site Assessment Report. This request is a collaborative assessment with City and San Mateo Consolidated Fire staff providing information about the viability of the site. The Site Assessment Report form has more specific information that needs to be provided prior to scheduling the assessment, which may be on-site or a remote review of documentation and images as applicable.
3. Review Loan Documents. It is important to review all of the related and required documents that are the part of the loan. These documents need to be signed by the legal property owner(s) and if there are any issues that would prevent the signing, a loan will not be a viable option for the project.
4. Program Information & Project Loan Application. This is the primary information that is required for an application. The document has some similar information in the Startup Guide, but there is more specific information regarding the loans and the direction on how to submit the required materials. It's important that you complete the Site Assessment Report early in your application process to help avoid moving ahead with a site that is not viable.
5. Staff Review. City staff will receive the loan application and the required supporting documentation. Incomplete applications may be declined. Staff will review the application and assess the viability of the project and the requested loan, and applicants will be contacted regarding the status.
6. City Council or City Manager Approval. Upon an approved application, staff will work with the applicants to prepare the loan documents and the required approval in accordance with the City's purchasing policy.