LISC Loan Helps Child Care Center Buy the Building It Rented for Nearly a Decade

Big news! LISC Cleveland closed on a $573,000 acquisition loan for Kiddie Kastle, a childcare center on Cleveland’s west side. The low-interest capital helped Kiddie Kastle purchase the 4,000 square foot brick building where it has served Cleveland families since 2015. The LISC loan, which also funded parking lot and driveway improvements, will allow Kiddie Kastle to continue to serve its 77 students and provide employment to 16 teachers and other support staff.

“Owning our building, rather than renting, provides us with greater operational stability and the ability to invest more in our programs and facilities,” said Meia Carter, owner and operator of Kiddie Kastle. “From a business perspective, this purchase strengthens our foundation, enabling us to plan for the long term and make improvements that directly benefit the children and families we serve.”

Gold-Star rated through the State of Ohio’s Step Up to Quality rating system, Kiddie Kastle serves infants through school-age youth and is a Step Forward-Head Start preschool location. In addition to its Cleveland center, Kiddie Kastle operates a center in North Olmsted, which it opened in 2022.

Alongside the acquisition loan, LISC Cleveland made a grant to Kiddie Kastle to help with predevelopment expenses such as a building needs assessment and appraisal. LISC also provided guidance to Carter as she navigated the closing process, from start to finish.

“Working with LISC, the team was very helpful and encouraging every step of the way,” said Carter. “They really worked diligently to ensure the process went smoothly. I am incredibly thankful and excited for this opportunity.”

LISC is committed to helping local small businesses like Kiddie Kastle grow and thrive. Could your business be next? In addition to acquisition loans, LISC’s small business lending products include permanent working capital, leasehold improvement and equipment loans, and construction to permanent loans.  For additional information, contact Jeanine Colozza at jcolozza@lisc.org.