SBA Lending in the Childcare Industry (NAICS 624410)
Main Street Monday — SBA Lending in the Childcare Industry NAICS 624410
September 23, 2024
By Bob Coleman, Publisher & Founder
Source: Coleman Report and Lumos Data
From the Office of Advocacy’s September 12, 2024 Childcare Industry Report:
The Bottom Line?
Historical SBA loan performance is excellent.
The market for childcare services is experiencing rising prices and inadequate supply of childcare firms.
Since 2016, labor force participation of parents with children under age six has been growing faster than the number of childcare firms.
Nearly all firms in the childcare industry are small businesses.
Childcare firms close at a greater rate and start at a lower rate compared to all firms. Recent childcare firm exits exceed the overall rate of firm exits, and recent childcare firm entries are below the overall rate of firm entries.
Two Quick Charts
