Reply to CARES Act and Childcare Facilities

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Reply to "CARES Act and Childcare Facilities "

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[quote=Anonymous]I know from personal experience and talking with friends that many of us are struggling with how to ensure our childcare providers at daycares and preschools are paid while many of us also deal with our own financial loss. Our center is asking us to pay 100% while they are closed to keep our spot, which is not something my family can afford in light of hits to our own income due to the pandemic. However, I’m now realizing smaller centers like ours should be eligible for an SBA backed loan through the CARES Act that just passed. https://www.cpmlaw.com/forgivable-loans-available-covid-19/

These loans are forgivable:

PPP loans can be forgiven to the extent that the loan proceeds are used for the following costs incurred and payments made during the eight-week period after the loan is made:
Payroll costs (except for those employees making more than $100,000);
Group healthcare benefit costs and insurance premiums;
Mortgage interest (but not prepayments or principal payments) and rent payments on mortgages and leases in existence before February 15, 2020;
Certain utilities, including electricity, gas, water, transportation, and phone and Internet access for service that began before February 15, 2020; and
Additional wages paid to tipped employees.

Why are families expected to pay to keep our centers in business when they can take out a forgivable loan that will cover rent, payroll, utilities, etc.? Am I missing something here? It just seems like it’s not feasible what we are being asked to continue to pay in light of long term closures. [/quote]

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