Please Make Sure You Know About This Program
Paycheck Protection Program
From the SBA: The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
The Paycheck Protection Program will be available through June 30, 2020. https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp#section-header-0
I am working with my bank to apply for this program.
Other Programs Related to COVID-19
Contact your credit card company. Ask them if they have a program related to COVID19. My bank provided a Natural Disaster Relief deferral so I do not have to make a payment nor incur interest on our credit card balance for 3 months.
If you have pending loans, check with your lending institution to see if they will grant you a three or six month payment deferral. I have an SBA loan for our business. The bank asked for a statement describing the impact of COVID19 on our business and granted a 6 month deferral.
Check with your building leasing agent. A number of landlords are providing relief for tenants by moving months of rent during the crisis to the back-end of a lease obligation period.
Check with your utility agencies. Many are offering programs that include extended grace periods, payment arrangements, and no interest or late fees.
To see the blog post 8 Helpful Ideas For Dentists During COVID-19 click here https://www.reachforservice.com/post/8-helpful-ideas-for-dentists-during-covid-19
If you have questions or comments, please feel free to contact me at gbiersack@reachforservice.com Sincerely, Greg
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