The SBA offers several different relief options to help small practice owners recover from the impacts of COVID-19. Please note these very important facts about the PPP Loan program:

  • The PPP Loan is available to self-employed physicians, dentists, and mental health practitioners even if they have no staff.
  • Self-employed practitioners that have no staff should qualify for $20,833 as long as their 2019 Schedule C profit exceeds $100k.
  • The PPP loan is FREE MONEY, and should NOT need to be repaid and should NOT be subject to federal income taxes.
  • The deadline to apply for your PPP loan is 3/31/21. Please contact your bank right away to start the process.

In order to reach the smallest businesses, SBA will offer Paycheck Protection Program loans to businesses with fewer than 20 employees and sole proprietors only from Wednesday, February 24 through Wednesday, March 10, 2021.

President Biden has also announced additional program changes to make access to PPP loans more equitable.

Please visit their website for more details at: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

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