CRH Medical receives nearly $3M in loans under COVID-19 relief act

Vancouver, Canada-based CRH Medical Corp. received $2,945,620 in loan proceeds under the Paycheck Protection Program.

Four quick insights:

1. The Paycheck Protection Program was established as part of the Coronavirus Aid, Relief and Economic Security Act to help small businesses pay employees during the COVID-19 pandemic.

2. CRH Medical's loan proceeds are eligible for forgiveness if used to cover payroll costs, rent, mortgage interest and utility costs within eight weeks of receipt.

3. The amount of loan forgiveness will be reduced if the borrower doesn't maintain staffing or payroll levels.

4. Established in 2014, CRH Medical provides anesthesia services for endoscopy patients in ASCs.

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