Coastal Enterprises, Inc. (CEI) has announced a $600,000 grant with a $1 million program-related investment (a revolving loan fund) to help expand its Child Care Business Lab, which provides training and an opportunity to access capital to start childcare enterprises in Maine. The funding from Lumina Foundation and Lumina Impact Ventures will help CEI develop a model for peers nationwide. The idea for the CEI Child Care Business Lab emerged from a pre-pandemic listening tour of rural Maine. Residents reported that a lack of quality childcare was affecting their ability to work full-time, secure a decent livelihood and support their families. In response, CEI created the Child Care Business Lab in 2020, which combines small business start-up education with childcare management instruction and coaching through the licensing process. To date, 16 Maine residents have opened financially sustainable childcare businesses serving over 330 children and enabling 69 parents to start fulltime jobs.
展开▼
