Cranford, NJ – Registered family child care providers are invited to attend a free 1.5 day business training session offered by UCEDC, a nonprofit economic development corporation, on August 22 and August 29, 2015. The proper way to maintain financial records, pricing of their services, and credit score repair are among the topics to be presented. Participants who attend both sessions will be given a $500 grant in the form of a no-payment loan, thanks to the generous support of Peapack-Gladstone Bank.
“Family child care providers fill such a vital role in the child care system, but are often struggling financially because they haven’t received adequate business training. We’ve designed a program specific to the challenges and opportunities of home-based child care that focuses on the skills and knowledge these providers need to succeed,” says Maureen Tinen, UCEDC president.
In addition to the free training, participants will be awarded $500 to support their child care operations. Providers will get a $500 loan from UCEDC with all payments made by Peapack-Gladstone Bank on their behalf.
“By issuing the $500 award as a loan instead of a grant, we’re helping the providers to improve their credit scores and establish a business credit history,” explains Tinen. “As Peapack-Gladstone Bank makes the payments on behalf of the recipients, that positive payment history is reflected on each recipient’s credit report. That’s how credit histories are improved and scores are boosted.”
“Peapack-Gladstone Bank is excited to be sponsoring this program with UCEDC. We are committed to small businesses, and in particular home based childcare providers who do so much to support working parents,” says Lisa Chalkan, chief credit officer and a member of the Board of Trustees of UCEDC.
Registered family child care providers are encouraged to contact UCEDC at 908-527-1166 to learn more about the free program, including eligibility requirements.