“The KidVantage Loan is an excellent and timely product that fills a critical void for families.” “We are particularly pleased with how this loan has led to positive results for families in our centers.” Locations of the learning experience.
POWAY, Calif. (PRWEB)
December 21, 2020
Following the successful implementation of its program to provide needed financial assistance to families across California and Colorado, Jump Start Finance (JSF), creator of the KidVantage loan specifically for child care, announced a gradual national expansion from early 2021. The KidVantage Loan is the only targeted financing option that allows families to lower their monthly child care payments and pay over a longer period of time, expanding the range of childcare options and offering long-term financial benefits.
After successful proof of concept, KidVantage Loans officially launched in California and Colorado earlier this year, empowering parents to make the best possible care decisions for their children with a dramatically reduced monthly financial burden and a positive impact. long-term. The nationwide roll-out of the program is driven by the documented need for financial options for families and the continued growth of JSF’s child care partners, JSF, to include national chains and independent operators in all 50 states.
“Many of our healthcare partners are located in multiple states, which, together with the exponential increase in needs induced by the pandemic, makes it crucial to commercialize in as many states as possible, as quickly as possible.” said Brian Enneking, CEO of JSF, “The need to pay lower monthly child care payments is truly a national issue, as evidenced by the fact that child care costs are now higher than costs. colleges in over 32 states. “
The cost of care and education is one of the top five expenses for families. To meet the challenge, one in three families incur credit card debt, are forced or choose to let a parent leave the workforce and care for the children at home, or opt for inferior quality of care by especially because of the cost.
The nationwide rollout will be in stages, with loans expected to be available in more than 20 states by early 2021, another large group in the second quarter, and the balance before the end of 2021.
“The KidVantage Loan is a great product that is very timely and fills a critical void for families,” said Sheetal Peter-Korah, owner of three The Learning Experience sites in the Denver area. “We are particularly pleased with how this loan has led to positive results for families in our centers, and are confident that it will be well received across the country. There is nothing more important than ensuring that families have access to quality child care and allowing parents to continue to develop their careers and their income.
While the KidVantage Loan is available to any family and any center / care provider through a free application process, partnering with the centers makes the process easier for families and relieves the center of a significant administrative and budgetary burden.
Financing child care in a way similar to buying a house or car or going to college reduces the monthly burden of paying in full. It allows families to explore more options and make the right decision by reducing the influence of child care spending on their monthly budget.
The mechanics are simple. Parents apply online at no cost. Once approved, they choose a minimum payment of as little as 40% of their monthly expenses (up to $ 2,000 / month). JSF pays the child care provider of their choice on the first of the month, and their minimum payment is due to JSF on the 27th. Parents can pay the full amount if they wish and not be subject to interest.
About Jump Start Finance
Jump Start Finance and the KidVantage Loan Program address the critical issue of child care and early childhood education finances for families. Using a proven model that has been used for life’s major purchases like a house, car, and college for decades, the Jump Start team created a loan program with low monthly payments for families which eliminates many long term problems with other payment options present. Faced with high monthly payments, many leave the workforce to provide home care, pay for care with a credit card, or settle for a lower quality / cheaper care provider. By reducing payments to as little as 40% of monthly child care costs, KidVantage loans provide more options, flexibility and choice. Based in Poway, Calif., Jump Start was founded by a team with over 60 years of experience in financial services, credit, and lending. The program is currently available in California and Colorado, with an expansion to 20 or more additional states scheduled for early 2021. Read more about http://www.jumpstart-finance.com.
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