Small Business Association updates loan criteria during the coronavirus: Key insights for physician practices, ASCs

Physician-owned practices and ASCs can secure Small Business Association grants and loans if needed to meet payroll and pay the bills during the coronavirus pandemic.

Many surgery centers across the U.S. have closed their doors amid the pandemic to stem the spread of the virus and divert resources to treating patients with the coronavirus. In some cases, physicians can still see patients via telemedicine, but elective surgeries are often on hold.

President and CEO of Physicians Realty Trust John Thomas said these physician-owned organizations should consider SBA grants and loans. On March 17, SBA updated its criteria for requesting disaster assistance loans for small businesses affected by the coronavirus. The SBA Economic Injury Disaster Loans offer up to $2 million in assistance per small business.

On March 23, SBA Administrator Jovita Carranza made changes to help borrowers still paying back SBA loans from previous disasters, making deferments through Dec. 31 automatic.

More articles on healthcare:
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11 centers responding to the COVID-19 pandemic
Hospitals looking into using ASCs for COVID-19 patients: 4 things to know


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