Practices that received an initial Paycheck Protection Program (PPP) loan are now eligible for a second draw loan (PPP2), as long as they have 300 or fewer employees and sustained a revenue loss of at least 25% during any quarter of 2020, compared to 2019.
We’ve received two common questions from doctors about qualifying for a PPP2 loan. “If my practice collections were down more than 25% over three consecutive months during 2020 (i.e. – February, March, and April), but not down 25% in any single calendar quarter, can I still qualify?” And many orthodontists have asked...
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