VGM & ASSOCIATESHealthcare MSO

Paycheck Protection Plan and Economic Injury Disaster Loan Emergency Advance Run Out of Funds

Published in Member Communities on April 16, 2020

Thursday morning it was announced that the Small Business Association’s (SBA) “Paycheck Protection Program” (PPP) had run out of funds. According to the SBA website, the agency is “currently unable to accept new applications for the PPP based on available appropriations funding. Similarly, we are unable to enroll new PPP lenders at this time."

Additionally, the Economic Injury Disaster Loan Emergency Advance is no longer accepting new applications. According to the SBA website “applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.”

The federal government is looking at adding more dollars to that fund so that additional businesses that still need assistance can get it. We would still recommend reaching out to an approved lending institution to at least begin the application process if you have not already done so. If additional funds are added, you will already have the application process completed.
 

Get Connected

Stay up-to-date on the latest resources and news provided by VGM & Associates.

Sign Up for Email

From Our Experts

Honoring ADA: Heroes of DMEPOS thumbnail Honoring ADA: Heroes of DMEPOS Celebrate the vital role of DMEPOS and home healthcare, honoring the heroes empowering patients' accessibility and independence. Streamlining Processes and Enhancing Profitability in the Repair Department thumbnail Streamlining Processes and Enhancing Profitability in the Repair Department In the complex rehab technology industry, efficient and profitable repair departments are crucial for maintaining customer satisfaction and business growth. The Cost of Not Doing Your Due Diligence When Considering a New Billing System thumbnail The Cost of Not Doing Your Due Diligence When Considering a New Billing System For providers large and small, a reliable, accurate, and efficient billing system is essential for ensuring smooth, financial transactions and maintaining healthy cash flow. Bipartisan Medicare O&P Bill Introduced thumbnail Bipartisan Medicare O&P Bill Introduced In a timely move ahead of next week's NAAOP Legislative Fly-In, a bipartisan group of lawmakers introduced the Medicare Orthotics and Prosthetics Patient-Centered Care Act, a bill aimed at improving access to high-quality orthotic and prosthetic care for Medicare beneficiaries. The Patient-Centered Care Act seeks to address critical gaps in Medicare coverage for orthotic and prosthetic (O&P) services. Under current rules, beneficiaries may receive devices without the necessary clinical services Meet the VGM Live at Home Team! thumbnail Meet the VGM Live at Home Team! The first half of 2025 has brought exciting developments and fresh momentum to Live at Home, underscored by the integration of the VGM Member Success Team. Customization, Communication, and Clinical Strength: The Indie Edge in Complex Rehab thumbnail Customization, Communication, and Clinical Strength: The Indie Edge in Complex Rehab Independent complex rehab providers say they are differentiating themselves with product customization and referral and patient engagement. The Rising Cost of Doing Business in the Mobility and Complex Rehab Technology Industry thumbnail The Rising Cost of Doing Business in the Mobility and Complex Rehab Technology Industry This article delves into concerns of rising costs in the mobility and complex rehab technology (CRT) industry and explores potential strategies to mitigate their impact. Empowering Patients and Caregivers: Advocacy and Education thumbnail Empowering Patients and Caregivers: Advocacy and Education Whether it's a safety bed, mobility aid, or a respiratory device, healthcare providers' roles extend beyond equipment delivery—we are educators, advocates, and allies.

Give your business an advantage over the competition.

Become a Member