ECD Finance - You can afford to invest in your educare business
Affordable finance for SA preschools
We know that many ECD centres find it difficult to invest in their preschools. Traditional banks don’t want to lend to preschools without collateral, extensive paperwork and months of financial records. Moneylenders are too expensive and don’t care about your business. But without money, how will you invest and grow your educare centre?
With Grow ECD’s Finance you can get specially negotiated, affordable microloans to invest in your preschool’s education, infrastructure and registration requirements.
Is ECD Finance for you?
Who can apply for ECD Finance?
- You must have an ECD Centre located within 75km from a Grow ECD office (we are based in Cape Town, Midrand, Durban and Pietermaritzburg)
- You must have a clear credit record
- Your centre must actively use the free App for at least 2 months to
- Enrol learners and staff
- Take daily learner and staff attendance on the app
- Capture all income and expenses on the App (unless you have formal bookkeeping records)(Why? This helps us understand if you qualify for a loan, can afford the repayments, and proves that you are an active ECD centre)
- Your centre should have 25+ active learners (recommended)
How does it work?
1: Prove that you run an ECD centre (Preschool/Educare/Creche)
We need to know that you run a centre and can afford the loan. Use our free ECD App for at least 2 months to do your learner and staff attendance and to capture your business income and expenses.
2: Apply for a loan
After we visit your centre we will help you submit your application form to the financial service provider. This includes a credit check, all the data you've captured on the app, and a breakeven analysis we've prepared with you.
3: Get finance to grow your ECD business
You receive funding and repay it over 36 months. You can also settle your loan in advance without any penalty fees. The fees are transparent and easy to understand so that you know exactly how much you will be paying.
What can you use the funding for?
Grow ECD's Quality Education Programme
Infrastructure to meet registration and safety standards (Coming soon)
What does it cost*? How can I afford it?
EXAMPLE: 100% loanEstimated monthly repayment over 3 years at 5% interest
The Quality Education Programme
Once off credit initiation and admin fee
TOTAL COST R42 600*
EXAMPLE: R20 000 cash payment. Rest on loan.Estimated monthly repayment over 3 years at 5% interest
The Quality Education Programme R20 000 cash+R20 000 loan
Once off credit initiation and admin fee R1 975
TOTAL COST R41 975*