ANNOUNCES GRANT TO EXPAND CHILD CARE BUSINESS LAB
Summary
Residents reported a lack of quality childcare was affecting their ability to work full-time, secure a decent livelihood and support their families. To date, 16 Mainers have opened financially sustainable childcare businesses serving more than 330 children and enabling 69 parents to start fulltime jobs.CEIs Child Care Business Lab aligns with Luminas commitment to helping the nation redesign learning after high school to help more adults earn the degrees, certificates, and industry certifications necessary to boost economic success among working-age adults. Luminas approach complements elements of the CEI Child Care Business Lab, which targets rural, underinvested communities, and opens access to programs that lead to meaningful credentials. We are excited to support CEIs Child Care Business Lab, said Chauncy Lennon, vice president of Learning and Work at Lumina. Additionally, the funds will provide low-cost capital to lend to child care business owners seeking to start their enterprises, which is traditionally difficult to access due to the industrys non-traditional collateral, tight margins, and delayed income from reimbursements for subsidized programs.Coastal Enterprises, Inc. (CEI) works to build a just, vibrant and climate-resilient future for people and communities in Maine and rural regions by integrating finance, business expertise and policy solutions in ways that make the economy work more equitably.