We are excited to announce that child care providers on the Wonderschool platform can now access support when applying for federal financial assistance, as well as discounted tax preparation services.
“It’s critical we give our child care providers the resources they need to effectively serve children and families and to efficiently manage their businesses. This is true always and especially now as they navigate the financial impacts of the COVID-19 pandemic on their businesses,” said Wonderschool Co-Founder and CEO Chris Bennett. “We’re thrilled to offer our child care providers these expanded supports to ensure their businesses can not only sustain but thrive.”
We have partnered with Womply, a local commerce platform, to help our providers submit applications for federal financial assistance to offset the financial impacts of the COVID-19 pandemic. The assistance comes from the Paycheck Protection Program (PPP), which provides forgivable emergency loans. With an injection of $7.25 billion with the latest round of stimulus, the program is designed for “Paycheck Protection” so businesses can keep and rehire employees.
As a result, if a business spends its loan on payroll, rent, mortgage interest, or utilities then the government will forgive the loan and the business doesn’t have to pay it back.
Womply simplifies the complex application process and connects businesses directly with an approved SBA-certified lender to help them quickly get the funds they need. The deadline to apply is March 31, 2021, but those interested are encouraged to complete an application as soon as possible to ensure they can secure funds.
We are also working with tax prep professionals with expertise in child care businesses to provide comprehensive financial services at a discounted rate, including preparation for annual taxes. These services include but are not limited to tax reporting and preparation, financial advising and planning, and consultation on resolving debt and budgeting.
Earlier this year, we partnered with Yelp, the company that connects people with great local businesses, to provide its child care providers with $300 in upfront advertising credits to help them promote and market their programs in new ways.
Read the full release HERE.
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Read about new funding potential for early childhood care and education over the past 18 months at the federal, state, and local levels.
Child care providers on the Wonderschool platform can now access support when applying for federal financial assistance.