The ADA webinar,
Small Business Administration Loans: Understanding the Options for Dentist Owners, is available online.
The webinar was designed to help dentists learn more about the Economic Injury Disaster Loans and Paycheck Protection Program 7(a) loans.
The webinar was presented by Mike Graham, ADA senior vice president, government and public affairs; Megan Mortimer, ADA congressional lobbyist; and CPA Allen Schiff, president of the Academy of Dental CPAs. In addition, Cathy Albrecht, ADA senior associate general counsel, and Brendan Sweeney, attorney, Jackson Lewis law firm, were on hand to take labor-related questions.
During the one-hour presentation, facilitators explained the differences between the Economic Injury Disaster Loans and Paycheck Protection Program, how to apply, and loan forgiveness scenarios. It also features a Q&A section with the experts. The webinar does not offer continuing education credit.
Use these timestamps to find quick answers to your questions.
1:47 - Economic Injury Disaster Loan
5:40 - Paycheck Protection Program Loan
8:40 - Applying for both loans
9:34 - What can PPP loans be used for?
10:20 - PPP loan forgiveness
12:20 - PPP loan scenarios
18:36 - Employee retention tax credit
28:38 - Q&A with the experts
Additionally, the ADA has developed a new fact sheet with a Q&A for dentists interested in learning more about Economic Injury Disaster Loans and Paycheck Protection Program loans as well as an updated brief summary of the two loan programs.
There are also two resources from the U.S. Department of Treasury that can provide additional information: a fact sheet on the Paycheck Protection Program and FAQ on the program, as well as the Small Business Administration’s webpage devoted to COVID-19 guidance and resources.
For the latest updates about issues surrounding COVID-19, visit ADA.org/virus.