I know many of you have been busy supporting your patients, but wanted to make sure you are aware of some economic stimulus programs that are becoming available. If you have a for profit or non-profit treatment program you can apply for two different types of economic assistance. These programs are also available to sole proprietorship and other types of freelance businesses.
Paycheck Protection Program:
The application process for the PPP program is now live. This will allow you to receive 2.5x your monthly payroll expenses as a loan that will be forgiven based on meeting certain criteria. You can apply at any SBA approved bank, funds **should be** available within a few days. Here is a sample application and a calculator to estimate funding amounts along with the documentation you may need. Reach out to your bank and ask for their specific application process.
SBA Disaster Loan Program:
The SBA is offering loans to small businesses that have under 500 employees. Loans have a 30 year term with a 3.75% interest rate. Proceeds from the loans can be used to cover many different types of expenses including payroll, debt and lease/mortgage loans. You can apply here.
Here are a few other resources that may be helpful:
Hang in there. We appreciate your commitment to serving those who are struggling the most.