Apply for Small Business Administration (SBA) Loans
As part of the Stimulus Packages signed by President Trump, there is additional funding for SBA loans for business owners negatively impacted by COVID-19.
GDA has created a resource to provide more information about the Economic Injury Disaster Loan (EIDL), the Emergency Economic Injury Grant, the Express Bridge Loan (EBL) Pilot Program, the Paycheck Protection Program, and the Small Business Debt Relief Program. Please download the document below.
Members also may wish to contact Georgia SBA District Office for more information at 404-331-0100.
Paycheck Protection Program Applications Open Today!
The Paycheck Protection Program provides forgivable SBA loans to cover payroll costs, mortgage interest, rents, and utility costs and provides a way to keep employees during the COVID-19 public health emergency. Applications for small businesses and sole proprietorships open today. To access the application, please click the link below.
Paycheck Protection Application
For more information about the Paycheck Protection Program or other SBA loans, please click the link below.
Paycheck Protection Program Fact Sheet
SBA Releases PPP Loan Forgiveness Application
The Small Business Administration (SBA) released the application borrowers who received a Paycheck Protection Program (PPP) loan must use to determine the amount of the loan that may be forgiven by their lender, including the expenses used for payroll, mortgage interest, rent, and utilities that were spent within the 8-week period after receiving the loan. For access to the form along with detailed instructions on how to fill out the form, please click here:
Download the application
Attention: GDA Members Who are In-Network Delta Dental Providers
Delta Dental of California, its affiliate companies, and Lendeavor are offering $200 million through a loan assistance program to provide economic assistance and post-COVID-19 pandemic relief for dentists who are in-network Delta Dental providers in 15 states, including Georgia.
The loan assistance program includes:
- First 12 months of interest on refinance and working capital loans covered by Delta Dental
- Second 12 months of interest on working capital loans arranged by Delta Dental and covered by Lendeavor
- Deferred payments for 6 months
- Working capital up to 15% of previous year’s collections (capped at $200,000)
- Up to a 126-month term
To be eligible to apply for the loan assistance program, you must own a private practice without venture capital or corporate support. Applications will be accepted starting on Friday, April 30, 2020.
Delta Dental Lendeavor Economic Aid Program Info
Resources from GDA Endorsed Partner, Bank of America
GDA is working diligently with our endorsed partners to keep members informed on issues related to COVID-19. Below is information from GDA Endorsed Partner Bank of America on financial assistance for small business clients, including documentation a member may need to apply for the 7A loan through the CARES Act.
Documentation needed to apply for a 7A loan
Small Business Resources Links
SBA Loan Option Review & Links
SBA Tells ADA Dentists Can Apply For Both Economic Injury Disaster Loans And Paycheck Protection Program Loans
The ADA News (4/6, Garvin) reports that the Small Business Administration told the ADA on April 6 that “dentists can apply for both Economic Injury Disaster Loans and Paycheck Protection Program 7(a) loans.” The article said that the ADA shared the news with members in an Issues Alert from ADA President Chad P. Gehani that said, “We are happy to report that our ADA Washington Office received a call this morning from the Small Business Administration indicating that eligible entities can apply for and receive both the [Economic Injury Disaster Loans] and [Paycheck Protection Program 7(a)] regardless of when the entity received their EIDL loan dollars,” and “we expect written confirmation to follow.”
Visit ADA.org/virus for the latest information on COVID-19.