Business Loan Improves Childcare Availability Across Region.

Program Creates Capacity for More Than 1,350 Children in ND, MN.

Mary Grace was operating a childcare business out of her Bismarck, ND, home, caring for 12 children mostly on her own. She wanted to grow Little Blessings Academy, but there were significant costs involved in funding a building, meeting licensing requirements and hiring qualified staff.

Then she learned about Gate City Bank’s BetterLife™ Childcare Business Loan, and she was able to expand into a dedicated childcare facility, more than double her capacity and hire six full-time employees.

“We are now licensed to care for up to 31 children,” Grace said. “The growth has allowed us to create jobs, serve more families and build a much more sustainable childcare program.”

Investing in Families and Communities.

With below-market interest rates, no origination fees and longer-term loans, Gate City Bank’s BetterLife™ Childcare Business Loan has helped providers hire extra help, make upgrades, purchase new buildings and open the doors of new childcare centers.

“Supporting childcare growth is extremely important,” Grace said. “Families need access to safe, reliable, quality childcare in order to work, attend school and support their families.”

Since launching the program in 2022, Gate City Bank has provided $9 million to finance 24 childcare projects, creating capacity for more than 1,350 children and saving childcare providers more than $3.89 million in interest costs.

“At Gate City Bank, we believe that when you invest in childcare, you’re really investing in families and the future of the community,” said Rammie Olson, Gate City Bank Vice President and Senior Commercial Relationship Officer Manager. “These projects create new opportunities for families and support a strong workforce and healthy local economies.”

This year, the bank has committed another $5 million to the program and dropped rates even lower – to 1.5% APR¹ for childcare loans of up to 60 months.

Austin Hawkinson, Gate City Bank Commercial Relationship Officer in Bismarck, helped Grace with her loan and said childcare availability is a critical need in our region.

“Gate City Bank’s BetterLife™ Childcare Business Loan has been a complete game changer,” he said. “This program has allowed for completely new childcare facilities as well as expansion of existing ones to help satisfy the need in the area.”

Unique Loan Addresses Critical Need.

For some families, childcare during regular business hours isn’t enough. If they work multiple jobs, overnight shifts or on the weekends, finding a safe and reliable childcare option can be a challenge.

Dehkontee Garlo of Gifted Stars Childcare was able to rise to that challenge thanks to the BetterLife™ Childcare Business Loan. The below-market interest, no-fee loan helped them expand into a larger, more modern facility that offers 24/7 childcare for Fargo-Moorhead-area families.

“Our new facility allows us to bring our operations together under one location while creating additional space to serve more children and families,” Garlo said. “Quality and accessible childcare is essential for children, families, and our local economy. Parents need reliable childcare, so they can work and pursue education, and businesses need a strong childcare system to attract and retain employees. Continued investment in childcare is critical as our population and workforce grow.”

Alex Lacey, Gate City Bank Assistant Vice President and Commercial Relationship Officer in Fargo, helped Garlo with the loan and said the program gives childcare providers more flexibility to reinvest in their businesses.

“With childcare being a critical service in our communities, this program allows providers to control their cash flow with a below-market interest rate,” he said. “They can use that savings to invest in things like quality learning materials or a better facility for their staff.”