March 5, 2020
Independent Women’s Voice, which fights to enhance people’s freedom, choices, and opportunities, is proud to support the Small Business Child Care Investment Act (H.R. 5789/S. 2549), sponsored by Rep. Susie Lee (D-NV), Rep. Pete Stauber (R-MN), Sen. Jacky Rosen (D-NV), and Sen. Joni Ernst (R-IA). H.R. 5789 and S. 2549 would allow non-profit child care providers to apply for all loan programs available through the Small Business Administration (SBA).
Presently, non-profit child care providers are ineligible for certain types of Small Business Administration (SBA) loan programs that are available to for-profits. While non-profit providers can apply for the SBA microloan program which is capped at $50,000 and limits how the money can be spent, for-profit providers have the option to apply for more flexible programs that can provide loans up to $5.5 million and can be used for a variety of purposes.
If enacted, the Small Business Child Care Investment Act would allow qualified non-profit child care providers to access these same types of SBA loans to finance the start-up and operational costs necessary to provide high-quality care.
Child care is the biggest household expense for many families today. Providing working parents who opt to send their children to daycare with more providers to choose from can help bring these costs down and expand access to quality care that is more affordable
Furthermore, child care is also a very personal choice and families have different preferences for care. The Small Business Child Care Investment Act could help provide parents with more childcare options so they can make the childcare decision that they feel is best.
We thank Sen. Rosen, Sen. Ernst, Rep. Lee, and Rep. Stauber for their leadership on this important issue and urge all Members of Congress to work toward the swift passage of the Small Business Child Care Investment Act.
Hadley Heath Manning
Director of Policy
Independent Women’s Voice