A group of organizations with a vested interest in ensuring that quality child care remains available – and increasingly so – for Delaware residents joined forces to sponsor a state-wide Business Plan Competition for eligible home-based or center-based child care providers. Winners will receive one of two grants ($5,000 or $2,500)in each category that can be used to improve their business operations or enhance the quality of child care they provide.
Providers are encouraged to contact one of the technical assistance(TA) partners listed below. All of the TA partners have agreed to provide FREE technical assistance (training courses and/or one-on-one consulting) to the providers in order to help them complete their business plans and prepare for the competition.
Delaware Center for
Enterprise Development
(DE St. Univ.)
Ilona Figat
(302) 857-6953 or Lillie Crawford (302) 857-6954
www.desu.edu/dced
|
Delaware Small Business Development Center Network
Carla Withers
(302) 831-0778 www.delawaresbdc.org
|
Sussex Technical High School
Sabrina Neal
(302) 856-0961 ex 322
www.sussexvt.k12.de.us/web |
YWCA of Delaware
Delaware Women’s Business Center
Olakunle S. Oludina
(302) 224-4060, x209
www.ywcade.org |
How would you use up to $5,000 for your child care business? With the help of the TA providers, it’s easy to participate in the competition. Eligible providers need to submit the following materials:
• accurately completed Business Plan Competition Application
• thoroughly written
Business Plan
• year-to-date financial statements (balance sheet
& income statement)
• any supplemental information (pictures, graphs, charts, etc.) |
• State of Delaware Child Care License*
• Delaware Business License*
• one-year projected cash flow statement with assumptions |
*Not required for application submittal, however, will be verified prior to awarding grant.
To be eligible, applicants must be:
• a DE-licensed Family (level 2); Large Family Child Care; or Center-based provider
• licensed to do business in the State of Delaware and have been in operation for at least 6 months (home-based) or 1 year (center-based) prior to date of business plan competition application
• current on all local, state and federal taxes or have satisfactorypayment arrangements in place at the time of application
• for-profit business enterprise
• 18 years of age or older
|
The Home-Based & Center-Based Child Care Provider BusinessPlan Competition will be judged and scored under established criteria and guidelines. Each section listed below contains specific individual elements.
The individual sections and their scoring are as follows:
HOME BASE CRITERIA
• Executive Summary
(10 points)
• Marketing (20 Points)
• Operations/Management (20 points)
• Overall Business Plan (20 points)
• Financials (20 points)
• Supplemental Info
(10 points)
TOTAL POINTS AVAILABLE: 105
|
CHILD CARE CENTERS CRITERIA
• Executive Summary
(10 points)
• Marketing (20 Points)
• Operations/
Management (20 points)
• Overall Business Plan (20 points)
• Financials (20 points)
• Supplemental Info
(10 points)
• Outline of Curriculum and Programming
(10 points)
• Organizational Flow Chart (5 points)
TOTAL POINTS AVAILABLE: 120
|
Extra Points (Both Categories)– Delaware Stars Program (5 points)
All applicants will receive complimentary membership in the Delaware Child Care Alliance.
*Some training courses may require a small fee.
To register for the information session by phone
please call (302) 652-6774 or toll-free (800) 652-4779 or register by e-mail to: BizPlanCompetition@firststateloan.org
New Castle County Info Sessions, 9:00 a.m Community Service Building, 100 W. 10th Street, Rm 6, Wilmington • Saturdays - March 6 and March 20, 2010
Kent County Info Session, 12 p.m. Delaware State University, Bank of America Building
1200 N. Dupont Highway, Rm 111, Dover • Saturdays -March 6 and March 20, 2010
Sussex County Info Session, 11:00 a.m. Milton Public Library, 121 Union Street, Milton • Saturdays – March 13 and March 27, 2010
|
|
Technical Assistance Partners
Delaware Small Business Development Center, Delaware Center for Enterprise Development,
YWCA of Delaware and
Sussex Technical High School |
|
On February 1st, 2010, First State Community Loan Fund kicks off its 4th Home-Based & Center-Based Child Care Provider Business Plan Competition. The purpose of the competition is to increase capacity for child care providers, which ultimately increases the quality of care that the providers offer. Competition application, eligibility criteria and guidelines can be found at www.firststateloan.org. This competition would not be possible without the generous financial support of the Citi Foundation.
Other important competition dates
to remember are as follows:
Applications Due
March 29, 2010 – 11:59 PM EST
Click here for the online application
Business Plans Due
May 14, 2010 – 11:59 PM EST
Awards Ceremony
Winners announced and grants awarded on Saturday, June 26, 2010, 10:00 a.m. at Delaware State University
Applications must be sent
electronically (via e-mail) to BizPlanCompetition@firststateloan.org
or faxed to (302) 656-1272.
Business Plans may be submitted
either electronically to BizPlanCompetition@firststateloan.org
or on a CD and mailed to First State Community Loan Fund, 100 W. 10th Street, Suite 1005, Wilmington, DE 19801, attn: Business Plan Competition.
CD submittals must be received by 5:00 PM Eastern Standard Time on May 14, 2010.
Upon receipt of your application and business plan, you will receive a confirmation. If you do not receivea confirmation, please
contact Delores Lee at:
(302) 652-6774, ext. 13.
Acceptable software programs include Microsoft Word, Excel and/or Adobe Acrobat (PDF). The Business Plan submittal (narrative, financial section & supplemental information) should be no more than 25 pages.
First State Community Loan Fund
100 West 10th Street, Suite 1005 Wilmington, DE 19801
Phone: 302-652-6774
toll-free: 800-652-4779
fax: 302-656-1272 www.firststateloan.org
|
|
