President Donald Trump signed the CARES Act on March 27. The bill provides $10 billion to small businesses through the Economic Injury Disaster Loan program.
The association encourages dentists to apply for the Economic Injury Disaster Loan as soon as possible. Applicants of the loan can receive an emergency grant of up to $10,000. The loan comes with a 3.75 percent interest rate. Dentists have up to 30 years to repay the loan and can go the first 12 months with no payments.
Dentists are also encouraged to apply for the Paycheck Protection Loan. The loan comes with a 4 percent interest rate. Dentists have 10 years to repay the loan.
To learn more about the loans, click here.
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