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Home Grown Info About PPP for FCC

Dear Colleagues, We have exciting news regarding the Paycheck Protection Program (PPP) for Home-Based child care providers! The Small Business Administration recently announced a change to the Paycheck Protection Program (PPP) funding formula for sole proprietors or self-employed people without w-2 employees. Previously funding was based on net income, which is the revenue minus expenses you incurred as a provider. The new change now qualifies providers for funding based on gross income, which is revenue made before expenses. Here are is an example of the new formula based on a family care providers.


Most banks are still changing their systems to accept the new formula, but some are open for this additional funding. Here are the recommendations from our partners at Civitas Strategies:

  • If you have not applied for the PPP, do so! One bank that is open for the new formula and works well with family care providers is: PayPal/LoanBuilder.

  • If you already have an application in with a bank - contact them and ask how you can take advantage of this new formula. You can also apply to more than one bank (including PayPal/LoanBuilder).

  • If you already received or had your loan approved, unfortunately there is no way to make this formula retroactive, so no action is needed.

For more information on applying, visit our website to view resources on the PPP for home-based child care providers. If you have any additional questions, email the Civitas Strategies team at ppp@civstrat.com. Thank you, Natalie Renew

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If you have not already applied for your STABLE Round 3 grant, don't delay! Today is the last day! Apply through KOALA.

To our family child care provider community: In the midst of this crisis, we know you are doing your best. We are trying our best too, and we appreciate your patience.

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