Learn How Healthcare Entities Can Access the Federal Loans Available to Support Businesses Through the Financial Challenges of COVID-19—Including the Paycheck Protection Program, Main Street Lending Program and EIDL Program—at a New Manatt Webinar.
As COVID-19 continues to ravage the economy, the federal government is taking action to bring relief to businesses, as they work to navigate this unprecedented crisis. Congress recently passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to support small businesses, with a $349 billion Paycheck Protection Program (PPP) that helps organizations keep employees on payroll during the COVID-19 pandemic. In addition, the Federal Reserve has just announced a $600 billion lending initiative designed to support mid-sized businesses through the newly-unveiled Main Street Lending Program. And the Economic Injury Disaster Loan (EIDL) Program, though not new, has been expanded under CARES.
As long as they meet certain requirements, healthcare providers and other healthcare-related entities are eligible to benefit from these programs. Healthcare organizations, however, have a unique set of issues that can make it more challenging to apply for and access funds. In a new webinar, Manatt brings together thought leaders across our healthcare, corporate and finance practices to address the complexities specific to healthcare entities—and help you benefit from the COVID-19 lending programs. Click to register free. The session will answer critical questions, including:
- Who is eligible for each program, and how can you apply?
- What are the general terms of each loan under the programs?
- Are providers accessing money through the CARES Act $100 billion provider relief fund also eligible for any of the loan programs?
- What complex issues do healthcare management services organizations (MSOs) face—and how can you address them?
- What are the nuances around determining your number of employees to know if you are an eligible small business?
- How are payroll costs calculated for PPP—and do they include independent contractors?
- Who determines whether you are eligible to apply for a loan—and does eligibility mean a quick approval?
- How much can you borrow under each program—and how can you use the money?
- Can you apply for PPP, if you already have received an EIDL?
- Are the loans forgiven—and are there limits to the forgiveness?
Neil S. Faden, Partner, Corporate and Finance
Peter F. Olberg, Partner, Corporate and Finance
Helen R. Pfister, Partner, Manatt Health
Date and Time:
Monday, April 20