Springboard Collaborative
Help Springboard understand Second Draw PPP loan implications
Allow Springboard Collaborative to continue closing the literacy gap through parent engagement.
Posted January 25, 2021
Background & Context
Springboard Collaborative's programs were significantly altered by the national pandemic. We were able to successfully weather the storm of 2020, by securing a federal SBA loan that was forgiven as part of the initial CARES act. We are now in a position to apply for a second draw loan and would like to discuss the implications of doing so with legal counsel.
Springboard Collaborative coaches teachers and family members to help students kids read on grade level. Our offerings combine personalized instruction for pre-K through third-graders, workshops training parents to teach reading at home, and professional development for teachers. We envision a world in which all children have the requisite literacy skills to access life opportunities. This work is especially important now as the education system is disrupted and the achievement gap will almost certainly increase during this time.
Immediate Problem
Springboard is seeking legal guidance on it's particular relationship to the SBA's loan forgiveness program through the PPP act. We intend to apply for a second draw.
Work & Deliverables
We seek assistance in complying with the rules for a second draw Paycheck Protection Program funds loan , so that we can continue to fund our operations and pursue our work in 2021. We have questions about qualification requirements, audit qualification, and employee counting.
Springboard Collaborative
Springboard Collaborative closes the literacy gap by closing the gap between home and school. We coach educators and family members to help kids learn to read by 4th grade. Springboard envisions a world in which all children have the requisite literacy skills to access life opportunities. In pursuit of the vision, Springboard will help 100,000 children reach reading goals by 2023. The path forward consists of five main elements: Flagship programs: Our flagship Summer and Afterschool programs double students’ annual reading progress through parent-teacher collaboration. Franchised programs: We successfully launched an affiliate model through which Springboard trains and certifies leaders to implement our playbook in their context for half the cost. Family engagement blueprint: We distilled the best practices from our programs and wove them into a framework for embedding family engagement into the school day, school year, and—ultimately—the school culture. Marketplace: We created an a la carte menu of products and services that drive impact, scale, and financial sustainability. This includes a home literacy app, our family workshop curriculum, and teacher training modules. Springboard as an idea: Finally, we are distilling Springboard into an open-source methodology for engaging parents that can become ubiquitous. We aim to catalyze a culture shift, making family engagement in education the new normal. It took decades for the sector to embrace the idea that all children can learn. It is Springboard’s ambition—and our charge—to prove that all parents can teach.
Springboard Collaborative
Springboard Collaborative closes the literacy gap by closing the gap between home and school. We coach educators and family members to help kids learn to read by 4th grade. Springboard envisions a world in which all children have the requisite literacy skills to access life opportunities. In pursuit of the vision, Springboard will help 100,000 children reach reading goals by 2023. The path forward consists of five main elements: Flagship programs: Our flagship Summer and Afterschool programs double students’ annual reading progress through parent-teacher collaboration. Franchised programs: We successfully launched an affiliate model through which Springboard trains and certifies leaders to implement our playbook in their context for half the cost. Family engagement blueprint: We distilled the best practices from our programs and wove them into a framework for embedding family engagement into the school day, school year, and—ultimately—the school culture. Marketplace: We created an a la carte menu of products and services that drive impact, scale, and financial sustainability. This includes a home literacy app, our family workshop curriculum, and teacher training modules. Springboard as an idea: Finally, we are distilling Springboard into an open-source methodology for engaging parents that can become ubiquitous. We aim to catalyze a culture shift, making family engagement in education the new normal. It took decades for the sector to embrace the idea that all children can learn. It is Springboard’s ambition—and our charge—to prove that all parents can teach.