The Vermont Community Loan Fund lent over $337,000 during the third quarter of 2019 with an Essex Junction childcare center receiving a piece of that pie.
Creative Discoveries Early Care & Education on Main Street was previously named Children’s Preschool and Enrichment Center. Katie McGee, a seasoned early educator, made a proposal to purchase the facility, its equipment, and supplies in order to fulfill the area’s high need for extra infant and toddler care.
The previous organization’s setup concentrated on providing services for preschool-aged kids only. McGee and the new approach are focused on supplying the community with another childcare option which welcomes infants aged six weeks and older.
The loan helped McGee finance the purchase of the center, allow new enrollments for 30 children--including 10 infants--and create six new jobs.
Additional benefactors from the third quarter lending include Big Brothers Big Sisters of Vermont, The Kids’ School in Stowe, and Agricola Meats in Panton.
Since 1987, the fund has loaned $110 million to local businesses, affordable housing developers, and community-based organizations. That funding has created or preserved 6,500 jobs, built or rehabilitated 4,100 affordable homes, created or preserved quality care for over 4,100 children and their families, and supported community organizations which provide vital services to hundreds of thousands of Vermonters.