Middle Class Child Care Loan Program

The City Council, in partnership with the credit union Neighborhood Trust Financial Partners, is offering low-interest loans to eligible families to pay for child care. You must schedule an appointment at a New York City Financial Empowerment Center run by Neighborhood Trust Financial Partners to learn more about the Middle Class Child Care Loan Program.

To qualify for a loan, you must:
• Have annual income of $80,000 to $200,000
• Get free one-on-one professional financial counseling
• Have a credit score of at least 620
• Have children between the ages of 2 and 4 who will attend day care

In the first year of the program, Neighborhood Trust Financial Partners can make loans to 40 eligible families. If you are approved:
• You can get a loan of up to $11,000 to pay for child care
• Payment will be made directly to the day care provider
• Interest on the loan is 6%. You can make interest-only payments until your child reaches kindergarten age.