Gov. Gavin Newsom on April 29 signed legislation that will provide a $6.2 billion tax cut to businesses that received a Paycheck Protection Program loan to pay for employee salaries, group health care benefits, other debt obligations and worker-protection costs related to COVID-19.
The $1.9 trillion COVID-19 relief bill signed March 11 by President Joe Biden provides billions of dollars in relief for individuals, families and small businesses through forgivable low-interest loans, tax credits, emergency grants, extended unemployment benefits and other assistance.
The federal COVID-19 relief package signed into law Dec. 27 provides $900 billion in pandemic aid, including $284 billion in new funding for the Paycheck Protection Program and $20 billion in new funding for the Economic Injury Disaster Grants and Loans Program.
“All eligible applicants experiencing economic impacts due to COVID-19” can now apply for the Economic Injury Disaster Loan and EIDL advance grant, the Small Business Administration announced June 15.
Flow chart to help dentists navigate COVID-19 SBA loans and application process.
There are multiple Small Business Administration (SBA) loan options available for employers. This fact sheet from the ADA provides details and guidance for dentists.
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Learn more at their COVID-19 Resource Center or apply now at sba.gov/disaster.