Reply to Did your daycare / preschool receive a PPP loan?

Forum Index » Preschool and Daycare Discussion

Reply to "Did your daycare / preschool receive a PPP loan?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=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.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics