How Dentists Can Apply for a Second Forgivable PPP Loan
Since Congress finalized its new $900 billion economic stimulus package, which includes $284.5 billion to fund a second round of the Paycheck Protection Program (PPP), dentists can now apply for a new PPP loan. The Small Business Administration (SBA) recently released new guidelines with many details about the deductibility of PPP expenses and loan forgiveness.
In this episode of The Art of Dental Finance and Management podcast, Art discusses everything that dentists should know about the new stimulus package and how it may affect their bottom-line. Art gives step-by-step instructions on securing a second PPP loan and planning for forgiveness:
- New application form
- New rules about who qualifies
- How much you should apply for
- Interplay between the PPP loan and the Employee Retention Tax Credit (ERC)
- Strategy for full forgiveness
- New PPP loan forgiveness form
- Deadlines for filing with the Department of Health and Human Services (HHS) for HHS Provider Relief Funds
