A peer-reviewed journal that offers evidence-based clinical information and continuing education for dentists.

Planning for Receipt of Your PPP and EIDL Loans

Art meets with three members of the Academy of Dental CPAs: Mark Rosen, BJ Kaucher and Bob Gray in today’s episode of The Art of Dental Finance and Management podcast. The panel discusses strategies for dentists to use SBA loan funds acquired from the EIDL and PPP loan programs and how to obtain maximum forgiveness.

As of May 3, the SBA still has not provided critically-needed guidance to answer many questions dentists have, however, the panel provides valuable guidance on:

  • What to do if you have not already applied for a loan
  • Whether you should start paying your dental team when you get the money or wait until your office opens up
  • How the forgiveness rules work
  • Things dentists should consider upon reopening
  • Can PPP loan money be used as working capital

All panel members stress that proper planning for all finances, including these funds, is critical.

While this is still an ever-changing situation, we will continue to stay apprised of the latest updates and share them with the dental community.

1 Comment
  1. Avatar
    Elena friedman DMD pllc says

    I am a pllc dentist that works from home . I applied for unemployment but did not qualify because I pay myself at the end of the year versus quarterly . My employees are getting unemployment but I am not simply because I declare 150,000 in the fourth quarter but declare no income 1st 2nd 3rd quarters . They must think I work only three months out of the year but I simply pay myself at the end of the year and due to that I don’t qualify for unemployment . I saw $600 deposits last week but that’s not enough to live on since I’m not practicing in New York . Any suggestions ?

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