This bill allows qualified nonprofit child care providers to access Small Business Administration loan programs for the first time. The legislation applies to tax-exempt nonprofits that primarily serve children from birth through school age, comply with state licensing requirements, and meet criminal background check standards for staff and volunteers. These organizations would be eligible for SBA's 7(a) general business loans and 504 loans for real estate and equipment purchases, with loans over $500,000 requiring an additional payment guarantee from a third party. The bill includes protections preventing discrimination based on religious affiliation while prohibiting loan funds from being used for religious activities. The SBA must submit annual reports to Congress starting one year after enactment, detailing the number and dollar amounts of loans made to nonprofit child care providers under these programs.
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