A new streamlined form for processing PPP loan forgiveness was recently made available by the U.S. Small Business Administration.
Established through the Coronavirus Aid, Relief, and Economic Security Act, PPP provides small businesses with the financial flexibility to maintain staff and operations during this uncertain time.
The American Dental Association pushed for the new streamlined form because dental practices must focus on their main objectives of providing essential care to their patients, not spending too much time on paperwork.
The new straight-forward changes should speed up the process at a critical time. More and more dental practices are expanding their health service offerings and can use additional time and resources to keep their practices up-to-speed and running as safely as possible.
Applications for new and second PPP loans are being accepted until March 31, or until funding is exhausted.
Dental practices obtaining loans under $150,000 can access SBA Form 3508S here.