The Small Business Association Economic Injury Disaster Loans (EIDL) and Loan Advance are available to businesses (including Doctors of Chiropractic) that have been impacted by COVID-19.
This program includes an emergency advance of up to $10,000 to small businesses affected by COVID-19. To access the advance, you must first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance. The funds may be used to keep employees on the payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent, and mortgage payments. You may also qualify for funds above the emergency advance to help your practice.
If you applied for the EDIL prior to April 1st, you need to reapply. Due to high demand, the SBA has gone through many revisions of its application process. It also appears that the SBA is running 3 weeks behind in processing applications. Contact your accountant to see if an SBA EIDL is right for you, or you can visit the SBA website for more information to start the application process
