As a medical, dental or other healthcare business, you are likely feeling the economic impact from the coronavirus pandemic. While you may have planned for a rainy day, no one could have anticipated the magnitude of this crisis nor how long it will last. What you need right now is cash.
The good news is that the federal government has stepped up to help. On March 27th, President Trump signed a $2 trillion stimulus package that included a paycheck protection program (PPP) aimed at helping small businesses. Dubbed the CARES Act, this new law calls on the Small Business Administration (SBA) to back loans through its 7(a) loan program. That comes on top of the Coronavirus Preparedness and Response Supplemental Appropriations Act under the SBA’s Economic Injury Disaster Loan Program, or EIDLP. Collectively, these measures provide assistance to businesses struggling to maintain operations and keep employees on the payroll. …
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