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Preschool and Daycare Discussion
Reply to "CARES Act and Childcare Facilities "
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[quote=Anonymous]The reason the forgivable loan is not an option for daycares and preschools is because in order for the loan to be forgiven, you have to maintain payroll at the same level that it was this time last year. Since you have some families who have stopped tuition and terminated care (or will terminate), you need to cut staff to make up for revenue losses but you can't cut staff because then you won't qualify for forgiveness. [/quote]
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