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Financial Planning, SBA Loans, and the CARES Act
In today’s episode, Art explains why dentists need to know how much money he or she needs to get through this time period.
It is so important for dentists during these challenging times, when most dental offices are closed, to make a 30, 60 and 90-day financial plan for themselves, as well as their practices.
In today’s episode, Art explains why dentists need to know how much money he or she needs to get through this time period. If they don’t take this initial step, it will be extremely difficult, if not impossible, to develop a plan to obtain or segregate the funds. Art outlines:
- How to make a plan
- What resources a dentist has to gather
- The two loan programs (EIDL and PPP) available through the SBA and SBA Preferred Lenders
- Some of the provisions of the CARES Act
With a well-developed plan, there is a way for dentists to survive these challenging times and come out on the other side, ready to get back to work.