COVID-19 Response: Federal Support Webinar for Childcare Center Directors
The federal government recently passed legislation responding to the COVID-19 crisis and negotiations are underway for another stimulus package in the near feature expanding access to important programs for Small Businesses, including non-profits. These can be very helpful for those who are struggling to make ends meet - especially for early care and education providers and other child-serving organizations - while we grapple with this public health emergency.
Representative Loranne Ausley
,
Whole Child Leon
, and the
Institute for Child Success
are facilitating a webinar to discuss two of these programs, what they do, and how you can access them. We expect to make this fairly interactive, so please bring your questions.
The first program we'll cover is the
Paycheck Protection Program
(PPP) - a
forgivable
loan, meaning that it can function much like a grant,
to support small businesses with up to 2.5 months of payroll and certain other expenses (rent/mortgage, utilities). Funding for the first round was limited, and given out on a first-come first-served basis.
The second is the
Economic Injury Disaster Loan
(EIDL). This loan is a longer-term loan designed to help keep business afloat despite Economic Injury from COVID-19. This is not like a grant, but more like a mortgage (30-year term with a low interest rate). It also allows for an "emergency advance" loan of up to $10,000 for businesses currently facing crisis-related difficulties.
What will we cover?
- Who is eligible?
- Where and when do I apply (we'll walk you through)
- How much can I borrow?
- How does repayment work?...How much can be forgiven?
This webinar is especially timely as we prepare for the next wave of federal support to become available.
