FAIRMONT — Access to child care is a bedrock for a strong workforce, but a recent study indicated a shortage of about 170 child care slots in Martin County, about half of those in Fairmont.

The Fairmont Economic Development Authority recently took steps to offer financial encouragement to the city’s child care providers and to potential providers by introducing a new loan program.

“It’s $1,000 per applicant at zero percent interest,” said Linsey Preuss, Fairmont economic development coordinator who developed the new program. “The applicant has to bring 50 percent of the total project (cost) so if it’s a $2,000 project, they pay $1,000, and we loan $1,000.”

FEDA has set aside $10,000 in funding to be used on a first-come, first-served basis, with primary consideration given to projects that will create new child care slots. The loan funds are available to any child care provider located in the city limits of Fairmont.

“It can be used for home maintenance as long as it relates to providing child care,” Preuss said. “It can be used for equipment. It can be used for upgrading a home to be up to code so they can get licensed for child care.”

Information and a printable application form is available on the FEDA website, www.fedamn.com.

“I wanted the application to be easy so it is literally a one-page application,” Preuss said.

Once the application is processed, a letter of approval or denial will be sent.

“If they are approved, they can make the purchase, and the loan will close once they submit their receipts or invoice,” Preuss said.

The loan program is a pilot project for FEDA and will be re-evaluated once the $10,000 limit has been loaned out.

“We’re just dipping our toe in the water to find out what the needs are of the child care community. If there is more of a need, we can absolutely tweak the program to fit those needs,” Preuss said.

“I am very excited to be able to support our current and new child care providers. There’s other programs throughout the state that focus only on creating new child care slots, but we wanted our existing child care providers to know that we appreciate what they are doing so they are eligible for this loan program as well.”

For more information, contact Preuss at (507) 238-3925.