News & Press: Advocacy

In Response to COVID-19, Some U.S. Physicians/Practices Now Eligible for Paycheck Protection Program

Monday, April 6, 2020  

The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act includes a new Small Business Administration (SBA) loan program that could benefit physicians and their practices. Small businesses, including physician practices, with no more than 500 employees are eligible to apply for the SBA's new Paycheck Protection Program  (PPP). The PPP allows small businesses, including independent contractors, to apply with an SBA-approved lender for a loan of up to 250% of the business' average monthly payroll costs to cover eight weeks of payroll, benefits, as well other expenses such as rent, mortgage interest, and utilities. A loan can be forgiven based on maintaining employee and salary levels.  Click here for additional information.

 


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