News Details

ADA Asks Congress To Increase Funding, Extend Dates For Small Business Administration Loans

Key Aspects of the Coronavirus Aid, Relief, and Economic Security ...
The ADA News (4/13, Garvin) reports that the ADA is “urging Congress to continue supporting small businesses during the COVID-19 pandemic by increasing funding and streamlining the application process for Small Business Administration loans.”

The article said that in an April 10 letter, the ADA thanked Senate Majority Leader Mitch McConnell, R-Ky., and Minority Leader Chuck Schumer, D-N.Y., and Speaker of the House Nancy Pelosi, D-Calif., and Minority Leader Kevin McCarthy, R-Calif., for their “strong support of small businesses across the country during this public health emergency.”

“The Coronavirus Aid, Relief, and Economic Security Act, in part, seeks to help small businesses maintain employees on their payroll as well as provide for disaster relief through the use of the Paycheck Protection Program and Economic Injury Disaster Loans,” wrote ADA President Chad P. Gehani and Executive Director Kathleen T. O’Loughlin.

The letter also said the ADA believes “the [Paycheck Protection Program] and [Economic Injury Disaster Loans] being administered through the Small Business Administration are going to be vital in keeping dentists across the country from closing their practices” and that, “while generous, we believe additional funding will be necessary to stem the closing of dental practices” and “we strongly support the Congressional efforts underway to increase funding for both the Paycheck Protection Program and [Economic Injury Disaster Loan] grants to the greatest extent possible.”

The article also said that the ADA “urged Congress to help streamline the Small Business Administration loan application process and to consider allowing small business dental practices to choose the 8-week period for which they can seek loan forgiveness and rehire staff.”

The ADA has developed a resource page on Small Business Administration loans, which includes a Q&A for dentists.

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