Day-care provider gets FAME guarantee

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SCARBOROUGH — Toddle Inn Day Care was approved for $1.3 million in commercial loan insurance from the Finance Authority of Maine. Toddle Inn operates six day-care centers in Westbrook, Gorham, South Portland, Cumberland Foreside, Saco and Scarborough.

As a result of FAME’s backing, according to a press release, a mortgage and direct loan from Camden National Bank “will help the company restructure existing debt and improve company cash flow.” Approximately eight new jobs are expected to result from the financing, as is the retention of 142 current jobs.

FAME is a “quasi-independent state agency that provides innovative financial solutions to help Maine citizens pursue business and educational opportunities.”

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