MetroAction Finances Helps Start-Up Childcare ProviderJanice and James Scarantino, owners of Busy Bees Learning Center, did not have a business plan when they approached MetroAction for financing in August 2008. In fact, they didn’t even have a location for their business. At that time, the Scarantino’s weren’t ready to apply for a loan through MetroAction’s Child Care Loan Program.
However, after a number of one-on-one counseling sessions with MetroAction staff and attending the Small Business Institute, the Scarantino’s now have a solid business plan and three years of cash flow projections – a factor that has made it possible for them to obtain the business loan they needed to open their child care business.
Today, the Scarantino’s have a thriving business and are nearing capacity after only eight months of operation. “MetroAction was a great help for us,” notes Janice Scarantino. “They didn’t just decline our loan request when they saw that we weren’t 100% prepared. They took the time to help us develop our business plan so we could apply for financing. We wouldn’t be here today with the counseling and guidance we received from MetroAction and the Small Business Institute.”