Did your daycare / preschool receive a PPP loan?
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Anonymous
| Ours applied, not sure if they received the loan. |
Anonymous
Have they said what they are doing about facilities costs? Our community pool has been way more transparent about all of this than our daycare. |
Anonymous
| Ours applied and said that even if they received it, they would not reimburse. They are charging full tuition. And haven’t said whether or not they received the loan. |
Anonymous
| Yes. |
Anonymous
Wait what? If they are charging full tuition what do they need a loan for? |
Anonymous
|
If we get it, we will use it to
1. pay payroll (our staff will go on furlough mid-May unless we hear from SBA. if we furlough and then hear from SBA, then we'll pull them back off furlough and pay them - this is REQUIRED for the PPP to be forgiven 2. pay rent and other facilities costs (lights, AC, internet) And hope it's forgiven - we will be very careful to use it only for what it's for. We do NOT want a loan even though that's only 1% interest - we want this to be forgiven COMPLETELY. Now, if we don't open after those 8 weeks from the PPP are up, then we will need to find money to pay for rent, lights, internet, HVAC in another way. savings acct? grant?) And we would furlough our staff again. We are collecting a very small % of tuition to help keep the lights on, rent paid, and not have to dip into our savings acct too much. If we get the PPP we will not give that small amount back to parents as we already paid our staff for April and didn't charge 100% of our tuition, so we are already in the red for April. May tuition is now just $250-$300, small for families but it helps, believe me, it helps. We are trying to just stop the bleeding. Of course, if we aren't full in September then the bleeding will continue as we'll have our staff all back and not as much income. |
Anonymous
| And if we DO get the PPP believe me, we'll tell the parents! It will be a celebration! But I'm not holding my breath. |
Anonymous
Your guess is as good as mine. We promptly withdrew. |
Anonymous
| St Albans Early Childhood Center applies and sadly did not get the loan. |
Anonymous
| applied |
Anonymous
So they can stop charging full tuition when they receive the loan funding? |
Anonymous
What were the grounds for denial? |