Small Business Administration Simplifies PPP Loan Forgiveness Process
Many dental practices received Paycheck Protection Program (PPP) loans to help keep them afloat while they remained closed except for emergency treatment during the start of the COVID-19 pandemic. If borrowers meet certain requirements, these PPP loans will be forgiven. The United States Small Business Administration (SBA) in collaboration with the US Department of the Treasury announced on October 8 that the process for seeking PPP loan forgiveness has been simplified. For those who borrowed $50,000 or less, there is a new, more streamlined application designed to assist small business owners, including dental practices. Read more here.