CARES Act – Paycheck Protection Program Interim Final Rule released last night.
A Simple PPP Loan Calculator
We developed an easy-to-use PPP Loan Calculator to help you estimate:
• Maximum Loan you are eligible for
• Loan Forgiveness Amount (by headcount)
• Loan Forgiveness Amount (by wage reduction)
• Download and modify for your own practice
Watch this video to find out how you can use the PPP Loan Forgiveness Calculator.
Important updates under the Interim Final Rule:
• Loans are guaranteed 100% by SBA
• 100% forgiveness of loan is possible
• Interest rate is 1%
• PPP is “first come, first served”
• 75% of loan must be used for payroll (below for people with $100K/year), 25% for other costs
• Last date to apply: June 30, 2020
My team is volunteering to submit Medicare Advance Payments applications for any GI practice that needs help with it. Please fill this application, scan and email it here. There’s no cost. Medicare will review and process applications within 7 days.
By Praveen Suthrum, President & Co-Founder, NextServices.
$2T CARES Act: What do GI practices need to know right now?