17 Mar, 2021, 10:30 ET
SAN FRANCISCO, March 17, 2021 /PRNewswire/ -- Wonderschool, an innovative online platform that connects families to a diverse set of child care options and supports the providers, today announced the child care providers within its network can now access support 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."
Wonderschool partnered with Womply, a local commerce platform, to help care providers, who act as small businesses, 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.
Wonderschool is 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.
Today's announcement marks the latest effort by Wonderschool to offer robust shared services support to the care providers within its network. Earlier this year, for example, Wonderschool 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.
Wonderschool also began collaborating with AccuTrak/CACFP.Net, a web-based solution for the Child and Adult Care Food Program (CACFP), a federal program that provides nutritious meals and snacks to eligible children and adults. This partnership helps to ensure that care providers who also participate in the program can easily access the system to request meal reimbursements.
Wonderschool is building the largest network of high-quality early education programs. Wonderschool offers a diversity of options and combines engaged teachers and thoughtful education with the warmth of a family program while maintaining standards that go above and beyond state requirements. By providing dedicated support, technology, training, mentorship, and community, Wonderschool lets teachers focus on what they do best— teaching—and allows them to earn a sustainable living in the field they love. Named one of Fast Company's Most Innovative Companies in Education in 2019, Wonderschool is based in San Francisco and venture-backed by Andreessen Horowitz, First Round, Omidyar, Unusual Ventures, and Gary Community Investments, among others. Learn more at www.wonderschool.com.
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