Practice owners who haven’t applied for an Economic Injury Disaster Loan (EIDL) should apply ASAP. Additionally, all dentists should watch ADA's CARES Act recorded webinar.
If you are a practice owner and haven’t applied for an Economic Injury Disaster Loan (EIDL), please read below. In addition, all dentists should watch this recorded webinar
from the ADA on the CARES Act.
Apply for Economic Injury Disaster Loan ASAP
- If you apply for this loan, you can request an emergency grant of up to $10,000 which the SBA must provide within 3 business days of grant request. This grant will not have to be repaid even if you are not approved for the loan.
- $10 billion is set aside for the grant program and grants are given out on a first-come, first-served basis.
- The SBA will determine the amount of an EIDL, and the loan is available to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses.
On-Demand Webinar: What’s in the CARES Act and How It Can Immediately Impact My Dental Practice
Originally recorded on March 27, attendees can understand the provisions in the recently enacted CARES Act that will have the most impact on dentists and their practices. The webinar explains how a provision in the Act allows those who apply for small business loans to access grant money on a first-come, first-served basis.
When addressing financial issues for yourself or your practice, we encourage you to reach out to your accountant for professional guidance.
Dr. Dennis Bradshaw