COVID-19 Resource Center

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SBA RELEASES MORE PPP FREQUENTLY ASKED QUESTIONS LIMITING THE FORGIVENESS BENEFITS FOR BUSINESS OWNERS

On August 4, the SBA, in consultation with the Treasury, issued new frequently asked questions interpreting a few more aspects of the CARES Act and the subsequent PPP Flexibility Act.

PROVIDER RELIEF FUND UPDATE

HHS has extended the deadline for applying for a grant from August 3 to August 28.
One question that’s been on many dentists’ minds is whether they can balance bill patients after they receive the HHS grant. If they can’t, then this HHS program won’t be very helpful.

Updated August 3, 2020

DENTISTS NOW ELIGIBLE FOR CARES ACT PROVIDER RELIEF FUND

The CARES Act, which passed on March 27, allocated $175 billion to a Provider Relief Fund meant to aid doctors on the front lines of COVID-19.

NEW PPP LOAN FORGIVENESS RULES UPDATE

The Application, Schedule A, and Worksheet to Schedule A do a decent job distilling the PPP program into a logical format for requesting loan forgiveness.

GOOD NEWS – HOUSE PASSES BILL THAT FIXES PPP FLAWS

The Application, Schedule A, and Worksheet to Schedule A do a decent job distilling the PPP program into a logical format for requesting loan forgiveness.

MAKING SENSE OF THE SBA’S PPP LOAN FORGIVENESS APPLICATION

The Application, Schedule A, and Worksheet to Schedule A do a decent job distilling the PPP program into a logical format for requesting loan forgiveness.

PPP Updates: More Interim Final Rules and FAQs

This is an update with some of our most recent frequently asked questions and to provide clarity on Friday's released interim guidance from the SBA.

LIVE WEBINAR Discussion with Bill Rossi—Preparing for your Practices Reopening

Thursday, April 30, 2020, at 2PM

LIVE Stream Webinar
with Q&A

SENATE PASSES NEW $484 BILLION STIMULUS BILL

The initial $350B allocated to PPP loans ran out in 13 days, just as sole proprietors, independent contractors and the self-employed were starting to apply.

350 Billion PPP Funding is Already Exhausted

SBA reports that the $350 billion has all been accounted for. Banks are being told to hold off on submitting new applications until Congress authorizes more funding.

LIVE WEBINAR Discussion and Questions for PPP Loans

Thursday, April 16, 2020, at 2PM

LIVE Q&A Webinar

SBA Frequently Asked Questions (FAQs) for PPP Loans Following the Interim Final Rule

Even after the SBA issued its Final Interim Rule on April 2nd, there have been many lingering questions for borrowers and banks. The banks are worried that they will be held to a high level of oversight even though the Treasury and SBA keep telling them they won’t.

No Need to Panic—Borrowers Can Get PPP and EIDL Loans

Over the past weekend, there has been great concern that the SBA’s “Interim Final Rule” from April 2 prohibits borrowers who receive EIDL loan funds after April 3 from applying for a PPP loan. We disagree with this interpretation.

SBA Issues “Final Interim Rule” for Paycheck Protection Program

On Thursday evening, the night before this program is scheduled to begin, the SBA issued updated guidance to borrowers and lenders.

Paycheck Protection Program (PPP) Loan Applications Begin

Updated 4/2/2020

Wednesday afternoon, the Treasury Department (Treasury) issued four forms, including a sample loan application

CARES Act Webinar – What it means for your practice

CARES Act Webinar - What it means for your practice. Discussion on Payment Protection Program (PPP).

Small Business Interruption Loans under the Coronavirus Aid, Relief, and Economic Security Act (CARES ACT)

Under the Senate bill (which the House has not yet passed, but is expected to do so soon), the federal government will be allocating $349 billion to the Small Business Administration to guarantee loans to small businesses.
Senate to Vote on Coronavirus Stimulus Package—What This Can Mean For Your Private Practice & Employees

Senate to Vote on Coronavirus Stimulus Package—What This Can Mean For Your Private Practice & Employees

As we continue through this unprecedented time, some good news is emerging. As you may have heard, the Senate has reached a bipartisan agreement on a $2 trillion aid package to the U.S. economy - the most substantial economic stimulus bill and rescue package in American history.
coronavirus shutdown

Protecting Your Practice During the Coronavirus Shutdown

Protecting Your Practice During the Coronavirus Shutdown Protecting Your Practice During the Coronavirus Shutdown It is extraordinary how much our lives are changing so quickly. Practices are shutting down for weeks with no assurance that they can reopen any time soon, certain states are on total lockdown and economic activity has ground to a halt.…
Important Update on COVID-19—Taking Care of Staff and Cash Flow During Office Shutdowns

Important Update on COVID-19—Taking Care of Staff and Cash Flow During Office Shutdowns

The April 1st issue of the C&A Doctors' Newsletter will be devoted to ways we can fortify our practices during the economic shutdown. But, before that goes to print, we want to address the most immediate needs - helping our staff through this difficult period and having enough liquidity to manage the next several weeks of uncertainty.

Link Resouces

Thanks so much Brandon!

As an aside (or two or three), I met with my team as a whole yesterday (three in the office/social distancing, masks and gloves enforced, and three on Zoom). Using your message, as well as information from lengthy discussions with my accountant and employment attorney, I shared background information and my/our (my wife Wendy works with us three days a week) decision to furlough the team. I made sure to go around "the room" and asked each of them to share any concerns/questions with the group, while assuring them that they could also come to me personally (by phone or text). I also gave each team member a package of materials that I had printed up from the Ohio.Gov website on unemployment during the coronavirus; this included instructions on filing for unemployment and FAQ. The group discussion, though at times difficult, was very productive. Interestingly, their biggest concern was that I/we would continue to work once this period ended and they would have their jobs back (which may be a reflection of my age and/or the uncertainty that this epidemic would come to an end.)

The information that you shared was critical to helping us through this. They were thrilled to know about the $600.00 per week government "subsidy" and were reassured that we had done our "due diligence" before making this decision. Researching all of this on Monday night (and into Tuesday morning (from about 1:30 to 4:30am when I couldn't sleep), I also found that they could get a little extra income (at least in Ohio) by working an hour or two a week, as long as the "income" was less than 20% of their weekly unemployment benefit. (They may come in alternate days to answer the mail, phone, etc.) As we have always had an answering service (not just a "phone machine,") the service is on alert and will direct any patients or callers with questions to my cell phone or website. After leaving the office and meeting, I went to Key Bank and made our end-of-month deposits through the drive-through. I took the opportunity to ask the "teller" to have the branch manager call me about the PPP loan; the manager called me later in the day to let me know that she would send me the information as she received it so that we could move forward.

I thought I would share this rather lengthy correspondence with you to both let you know how much I appreciated the presentation and to let you know how it helped in a very practical way (which, after all, is the goal of these presentations). You are welcome to use my experience as an example of how dental "owners" can approach this "situation."

-Steven Marsh, DDS
Cleveland, OH

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