E1.07 | The CARES Act, PPP Loan and Your Practice

Manon discusses the Paycheck Protection Program loan (aka Coronavirus Stimulus Loan or PPP Loan), reviews what we know so far and makes suggestions as to how orthodontists can best utilize the loan in the most strategic way possible for a successful return to practice. Plus so much more!

Featured guest

Manon Newell, COO, Engaged Practice Growth Specialists

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After surging upward for quite some time, the U.S. economy came to a grinding halt with the implementation of shelter-in-place orders across the nation. The U.S. government quickly responded by drafting and passing the CARES Act to provide trillions of dollars of economic relief to Americans. As small businesses, orthodontic offices can take advantage of the Paycheck Protection Program (PPP) initiated by the CARES Act, which provides forgivable loans so businesses can maintain payroll and cover some expenses.  

However, between the uncertainty on the horizon and the confusion surrounding receiving funds from the CARES Act, many orthodontists are understandably confused about how to move forward. COO of Engaged Practice Growth Specialists Manon Newell provides guidance on how orthodontic practices can best make use of loans they qualify for. 

Key Takeaways
  • Discover the importance of being well-informed on COVID-19 related legislation before taking out a loan
  • Learn the benefits of taking the time to have a "morning huddle" with your staff
  • Understand your options when it comes to staffing during this time
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