Texas Primary School Survives Covid-19 Financial Hardships Due to PPP Loan
In 2020, as the Coronavirus pandemic was imposing financial consequences on industries across the world, Elder learned about the Paycheck Protection Program (PPP) and the assistance it was providing businesses at that time. Due to the contractual nature of the school's tuition program, Elder felt comfortable with the school's financial standing and chose not to apply for the first round of PPP funding.
It wasn’t that I didn’t feel worthy, I just felt like there were (others) more worthy. As a school, we already had tuition contracted out. I was getting paid, and I had the money to make sure my teachers were getting paid. For the two months that we were shut down, I was in good financial shape. - Debbie Elder
As Elder settled into the 2020-2021 academic year, she realized that the Covid-19 pandemic was beginning to take a serious toll on school operations and finances, with no end in sight. That is when Elder began to seek out the different types of financial assistance that were available to her business during this time.
After reaching out to Biz2Credit, Elder was able to work with one of their in-house Lending Experts, who walked her through the entire process of applying for a PPP loan. Shortly after, Elder received the critical PPP funding that would be a pivotal point for her, her business, and her employees. She credits Biz2Credit with the rapid relief and ease that came with acquiring the loan.
I had never received a loan before, and I was definitely nervous. Working with Biz2Credit really helped me get rid of any hesitations that I had about the whole loan process. They were awesome and very communicative, which was important to me. At times, I was not sure if I was doing things right, and they kept letting me know that I was right on track. - Debbie Elder
Now that Elder received the PPP funding that was so critical to her business, she is now able to focus on the future of Shady Oak Primary School.
According to Forbes, private schools are now experiencing a boost in enrollment, as many families are pleased with how they have handled balancing both Covid-19 restrictions and in-person education options.
Biz2Credit really provided me with a solid bridge to get through what I needed to get through and I am so incredibly thankful. - Debbie Elder