New Mexico Administrative Code
Title 8 - SOCIAL SERVICES
Chapter 16 - CHILD CARE LICENSING
Part 3 - REQUIREMENTS GOVERNING THE CHILD CARE FACILITY LOAN ACT
Section 8.16.3.8 - ELIGIBILITY GUIDELINES FOR LOANS TO CHILD CARE FACILITIES
Universal Citation: 8 NM Admin Code 8.16.3.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. Loans to child care facilities must be used for health and safety improvements to a child care facility, including space expansion, in order to maintain an adequate and appropriate environment for a provider's clients.
B. An eligible applicant:
(1) has been licensed for
three or more years;
(2) is not a
head start grantee;
(3) has not
received a loan in the last five years, unless the loan has been
repaid;
(4) may be a private, for
profit or non-profit provider;
(5)
may be a family home that is a licensed facility;
(6) may be a provider moving to a new
facility; and
(7) must comply with
all applicable federal, state and local laws and regulations.
C. Priority for child care facility loans shall be given to eligible applicants that:
(1) have facilities serving a proportionately
high number of state-subsidized clients and low-income families (by statute,
this factor has priority over all others);
(2) intend to use the funds to increase the
capacity of the facility;
(3) are
non-profit organizations;
(4)
intend to use the funds to serve children with special needs;
(5) intend to use the funds to reach levels
3, 4, and 5 of the department's stars program (please refer to 8.16.2 NMAC for
further details regarding the department's stars program);
(6) intend to use the funds to increase their
capacity to provide care during non-traditional hours;
(7) the department may consider other factors
in determining the programmatic priorities of the project, including the
proposed loan structure (percentage of equity contribution), programmatic need,
loan size requested, and the length of time as a provider.
D. Loans may not be used for:
(1) day-to-day operating costs such as
salaries, rent and food purchases;
(2) working capital to cover shortfalls or
delays in payments to families, government agencies, or other funding
sources;
(3) training
expenses;
(4) purchase of
televisions, videocassette recorders, DVD players, or related
equipment;
(5) vehicle or
transportation expenses; or
(6)
repayment of loans or reimbursement of previously incurred expenses.
E. A provider that has received a loan from the fund in the immediately preceding five years shall not be given a loan.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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