From 2019 to 2023, annual demand for childcare in New Hampshire exceeded supply by 9,100 slots. In 2024, over 17,000 Granite Staters left the workforce to care for a child. Meanwhile, 70% of MA infants lived in “access deserts” with childcare slots for only a third of children in those areas.
The CareWork Loan Program, in partnership with A Place to Grow and The Merrimack, is out to change all that.
New Hampshire and Massachusetts are in the midst of a childcare crisis marked by high demand and low supply. That’s tough news for working parents, but good news if you’re looking to start, improve or expand your childcare business.
The CareWork Loan Program, offered in partnership with A Place to Grow, helps aspiring and established childcare providers finance licensed childcare centers with affordable business lending.
CareWork Loans offer:
- Up to 100% financing
- Flexible terms with a maximum of 10 years
- Up to 12 months of interest‑only payments
- Competitive interest rates based on the applicant’s credit score
- Fixed interest rate for five years
- Full coverage of the $600 loan packaging fee1
CareWork Loans finance:
Start-up Costs for New Businesses
Equipment Purchases
Leasehold Improvements
Working Capital Needs
The Acquisition of a Franchise2
Ready to apply? Review our Commercial Lending Meeting Checklist.
Need help writing a business plan? Read How to Write a Business Plan.
The Merrimack is a mutual bank.As a mutual bank, we’re owned by our customers, not by shareholders. We reinvest funds back into our institution to benefit customers and employees, and we’re committed to investing in our community, too.That’s MERRIMACK Style.
Application and credit approval required. Terms and restrictions apply.
1The Loan packaging fee covers the cost of standard flood hazard determination form, UCC lien recording fee, UCC liens searches and loan documentation.
2Franchisor and franchise agreements subject to bank review and acceptance prior to loan approval. Franchisor must be approved by SBA.
