“Does my medical practice or medical spa qualify for the CARES Act / Economic Stimulus?”
The short answer is YES. The Coronavirus Aid, Relief and Economic Security (CARES) Act is the stimulus bill recently passed by the US government to help provide relief options for small businesses including doctors offices, medical spas and aesthetics clinics during the COVID-19 national emergency..
The Coronavirus Aid, Relief and Economic Security (CARES) Act provides $349 billion in funding to through the Small Business Administration (SBA) that will provide small businesses, including physician offices & medical spas with a forgivable loan of up to $10 million. Practices can apply for as much as 250% of their average payroll costs over the previous 12 months. Loans through this program can be used to cover payroll, insurance premiums and mortgage, rent and utility payments and other qualifying expenses.