Presents an array of options for providing quality child care services while meeting the challenges of running a small business. The stress and anxiety associated with cash shortfalls can make it hard for the child care provider to give full attention to providing quality services. Providers of child care learn about sources of funding, including grants, bank loans, and micro-loans; different types of bank loans, including home-equity loans, short- and long-term loans, and lines of credit; loan applications and elements of the application review, including credit history, cash-flow projections, collateral, financial statements, personal guarantees, and the appeals process; types of loans to treat with care, including high-interest loans and loans from family members; the Small Business Administration’s role in helping small businesses obtain loans; the purpose and contents of a business plan; ways to manage bills and the role of a credit counseling service; and provisions of the Bankruptcy Code. Child care providers need to be able to take advantage, wherever possible, of practices that have helped other small businesses survive and thrive.
