Business of Medicine
Small Business Relief under the CARES Act
April 6, 2020
With the recent passage of the CARES Act, several new funding options are available to help bring some relief to small businesses. Below are new SBA funding programs that might help your healthcare organization during the COVID-19 pandemic.
Click here to access a visual guide of Coronavirus Emergency Loans for Small Business by the U.S. Chamber of Commerce.
Paycheck Protection Program
The SBA expanded the traditional loan forgiveness program for retaining employees. Find out more about it here. Additionally, here is a helpful link by the U.S. Chamber of Commerce that walks you through how to get a Paycheck Protection Loan.
Economic Injury Disaster Loan (EIDL) Emergency Advance
This loan will advance up to $10,000 of economic relief within three days of application. Find more information here. The U.S. Chamber of Commerce also provides a step-by-step guide on how to apply for an EIDL.
SBA Express Bridge Loan
This option allows for quick access of up to $25,000. Find more information here.
SBA Debt Relief
The SBA is providing some financial reprieve. Find more information here.
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The information provided in this resource does not constitute legal, medical or any other professional advice, nor does it establish a standard of care. This resource has been created as an aid to you in your practice. The ultimate decision on how to use the information provided rests solely with you, the PolicyOwner.