On April 27 at 10:30 a.m. EDT, the Small Business Administration (SBA) will reopen its application process for Paycheck Protection Program (PPP). Endodontic practices are encouraged to apply for this COVID-19 related relief.
The expanded PPP is part of the Health Care Enhancement Act and meant to help businesses maintain their workforce during the Coronavirus crisis. PPP is meant to incentivize small business owners into keeping their employees on payroll.
According to the SBA, it will forgive these loans if all employees are kept on the payroll for eight weeks and the monies are used for: payroll, rent, mortgage interest or utilities. For more information on the Paycheck Protection Program, visit SBA.gov/paycheckprotection. For more information on PPP and other relief programs that may be available, please read this AAE article.