The Small Business Administration (SBA) released an interim final rule on April 2 addressing the Paycheck Protection Program (PPP), a new SBA loan option created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The PPP is designed to help small businesses with payroll and related costs for an eight-week period. APMA encourages members to apply for this loan as soon as possible, as the money will be distributed on a first come, first served basis.
This interim final rule clarifies the following:
APMA has created a comprehensive resource page that addresses these updates to the PPP in addition to other small business financial resources such as the Economic Injury Disaster Loan (EIDL) at www.apma.org/COVID19SBA.
Please note: APMA is partnering with Marcum LLP to offer its members a one-hour webinar on Tuesday, April 7, at 5 p.m. ET, about recent COVID-19 legislation and resources for you and your practice. We strongly recommend attendance at this webinar—register today! If you are unable to attend, the webinar will be recorded and posted this week.
If you have general questions about the PPP or other small business resources available during the COVID-19 crisis, please contact the APMA Health Policy and Practice Department at email@example.com.