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Montgomery County to guarantee up to $30,000 loan for Vine Early Learning Center expansion
Summary
The Montgomery County Fiscal Court approved a pledge to guarantee up to $30,000 (50%) of a $60,000 loan to the Vine Early Learning Center to help expand childcare capacity; the center currently reports 65 slots with 61 filled and aims to double capacity within three years.
Montgomery County’s Fiscal Court on Jan. 20 approved a loan pledge and guarantee to support the Vine Early Learning Center’s planned expansion, agreeing to guarantee up to 50% of a $60,000 loan, not to exceed $30,000.
The Vine’s presenter, who identified themself as Black, told the court the center currently operates 65 slots, 61 of which are filled, and has created 14 jobs. "By year three we plan to double our capacity," Black said, and listed startup needs including engineering work, working capital and safety upgrades.
Court members framed the project as addressing a regional child-care shortage and supporting workforce retention. The loan will be issued by the Gateway Area Development District and will be subject to the terms and conditions in the loan agreement between the district and the Vine Early Learning Center. The court moved and adopted the pledge and guarantee during the meeting.
The action follows a public presentation from the Vine earlier in the meeting; presenters said the center aims to reach full capacity by its third year of operation and has adjacent space available to expand. The court did not detail additional conditions or disbursement timing during the meeting.
The court’s approval means the county will be financially liable for up to $30,000 under the guarantee if loan terms trigger the guarantee; specific loan terms and collateral requirements were not specified at the meeting.
