The Small Business Administration (SBA) recently rolled out the Paycheck Protection Program (PPP), a program that offers expanded loans to help small businesses that have been impacted by the COVID-19 pandemic. Given the enormity of the program and the immense interest and need, the unveiling was not smooth and required intervention from the Department of Treasury to further implement.
Increased direct financial assistance for practices is one of AGA’s top priorities.
- Recording of our April 9 webinar on PPP and how to apply, available in AGA University.
- AGA guide to financial assistance programs in the CARES Act for physicians
- AGA summary of the stimulus bill and what it means for gastroenterologists
The PPP has been overwhelmed by the necessity of the funds by small businesses, including physician practices, across the country and Congress is now moving forward with adding a supplemental $250 billion to the PPP to ensure that small businesses have the funding they need.
AGA continues to advocate for direct financial assistance to practices similar to what has been included for hospitals.
- We joined the American Medical Association (AMA) to ask the Department of Health and Human Services for additional financial assistance since the current financial assistance programs are not enough to help struggling practices.
- We have also called on HHS to carve out funds for physician practices from the $100 billion program for health care providers impacted by the pandemic. We know that more needs to be done if practices are to recover.