COVID-19 Financial Assistance For Practices

Financial Assistance for Practices Affected by COVID-19

NOTE: The loans below are now on hold as Congress works through additional funding; the original $349 billion set aside for the loan program has run out due to the sheer volume of applications.

Low- and limited-interest loans are now available to many healthcare practices through the Small Business Association (SBA) and North Carolina’s Golden LEAF Foundation. Please review this information carefully and talk to your practice’s CPA or attorney prior to applying for aid.


  • SBA Loans
    The SBA is making two (2) types of low-interest loans available for healthcare practices with fewer than 500 employees. These loans are funded through the CARES Act (Coronavirus Aid, Relief and Economic Security), a new federal law. Applications will be handled first-come, first-served, so apply as soon as possible if interested.

    • Economic Injury Disaster Loan
      Small businesses experiencing COVID-19-related revenue loss can apply for up to $2 million, and receive a loan advance of up to $10,000. Loan advances, available within three (3) days of an approved application, will not have to be repaid.This loan can be used for fixed debts, payroll and accounts payable, and for other bills unable to be met due to the impact of COVID-19.The loan application takes about two (2) hours.

      Apply through the SBA’s secure website.

    • Paycheck Protection Program (PPP) Loan
      Designed to help small businesses keep their workforces employed during the COVID-19 crisis, PPP loans will be made by SBA-approved lenders (which are likely to prioritize businesses with whom the lender has a previous relationship).Practices will not have to repay a PPP loan, so long as they keep all employees on the payroll for eight (8) weeks, and use at least 75% of the money for payroll, and the rest for rent, mortgage interest or utilities.

      To apply for a PPP loan, or for more information, go here.

    • For questions about either SBA loan, contact the SBA Disaster Assistance Customer Service Center, 1-800-659-2955.

      • Golden LEAF Foundation Loans
        The nonprofit North Carolina Golden LEAF Foundation, among the lenders supporting the NC COVID-19 Rapid Recovery Program, is offering loans for N.C. small businesses;

        • Applicants must be affected by COVID-19, and must have at least one (1) employee.
        • Loans are granted up to $50,000, with six (6) months at 0% interest and no payments, followed by 48 months of principal and interest payments at 5.5%.

        Go here to apply for the Golden LEAF loan, or for more information.