Town Considers $120,000 Bridge Loan to United 4 Childcare

The Town Council discussed issuing a $120,000 short-term bridge loan to United 4 Childcare for startup and operating costs, funded through the Concord Gully TIF Development Program. The proposed 24‑month loan would carry a 3% interest rate with interest-only payments in year one and full amortization in year two.

Scope & details

The full contract record, as filed.

Contract amount

$120,000

Contract type

FINANCIAL_SERVICES

Contract term

24 months; interest-only first 12 months, principal and interest months 13–24 at 3%

Renewal

Short-term bridge financing expected to be fully repaid within 24 months; no renewals discussed.

Document type

Minutes

Source document

Town of Freeport Minutes Town Council Meeting 2026-06-02

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Town of Freeport Town Council Meeting Agenda 2026-06-16

PENDING

Town of Freeport, Maine$120,000Jun 16, 2026

Town of Freeport Minutes Town Council Meeting 2026-06-16

APPROVED

Town of Freeport, Maine$120,000 plus approximately $5,559 interestJun 16, 2026

Town of Freeport Minutes Town Council Meeting 2026-06-02

AWARDED

Town of Freeport, Maine$11,000 fit-up grant (previously awarded)Jun 2, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Freeport?

United 4 Childcare was awarded this financial services contract by Town of Freeport, as recorded on June 2, 2026. The contract value is $120,000.

How much is the United 4 Childcare contract with Town of Freeport worth?

The United 4 Childcare contract with Town of Freeport is valued at $120,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Town of Freeport Minutes Town Council Meeting 2026-06-02 (Minutes), dated June 2, 2026 from Town of Freeport. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does United 4 Childcare hold?

United 4 Childcare may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View United 4 Childcare's profile

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