Hi Tom,
This may be more nuanced than you can touch on in a forum post, but I am curious your thoughts around home daycares pursuing the SBA's Economic Injury loan as a result of coronavirus impacts.
My home daycare has had two enrolled children terminate services due to the parents being out of work and not able to continue to pay for care in the interim. Depending on the duration, the remainder of children are in danger of following the same pattern.
If all enrolled children leave care due to parents being home and unable/unwilling to continue with payment, should this be considered as a valid reason to pursue the SBA loan in search of relief to support my wages and mortgage and insurance payment support? The daycare will technically not be closed, so I don't believe unemployment will be an option, but realistically I don't anticipate an uptick in enrollment to cover the losses.
Thank you!
This may be more nuanced than you can touch on in a forum post, but I am curious your thoughts around home daycares pursuing the SBA's Economic Injury loan as a result of coronavirus impacts.
My home daycare has had two enrolled children terminate services due to the parents being out of work and not able to continue to pay for care in the interim. Depending on the duration, the remainder of children are in danger of following the same pattern.
If all enrolled children leave care due to parents being home and unable/unwilling to continue with payment, should this be considered as a valid reason to pursue the SBA loan in search of relief to support my wages and mortgage and insurance payment support? The daycare will technically not be closed, so I don't believe unemployment will be an option, but realistically I don't anticipate an uptick in enrollment to cover the losses.
Thank you!
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