The West Virginia Capital Access Program (WVCAP) has approved an investment of $60,000 for Leaps & Bounds Early Childhood Development LLC, 108 Royal Street, Ravenswood. The investment provides funds for working capital and capital expenditures for the daycare facility.
The independent daycare operation focuses on quality child care for the working parent, offering year-round educational programs. The facility will be in operation from 6:30 a.m. to 5:30 p.m. Monday-Friday.
Leaps & Bounds expects to have capacity for 48 children when it opens its doors later in September. The company proposes to expand with Pre-K programs and additional slots for children as allowed by the West Virginia Department of Health and Human Resources Child Care Center Licensing regulations
The child care company plans to employ seven people during its first year of operation. Interested job seekers may submit applications on-site.
The lending institution is Mid-Ohio Valley Regional Council (MOVRC), a governmental planning and development agency. MOVRC serves Calhoun, Jackson, Pleasants, Ritchie, Roane, Tyler, Wirt and Wood Counties in west-central West Virginia. The MOVRC is a local development district under the Appalachian Regional Commission and an economic development district under the U. S. Department of Commerce/Economic Development Administration.
WVCAP provides West Virginia small businesses with access to new loan funds they can use to invest expand and create jobs. The state-run program has access to $13.1 million through the State Small Business Credit Initiative, created under the federal Small Business Jobs Act of 2010. WVCAP is administered by West Virginia Jobs Investment Trust (WVJIT).
For more information, contact WVJIT, 304-345-6200, www.wvjit.org.
