Bill Could Provide Some Urgent Care Operators with Loans to Reduce Impact of Pandemic

Some urgent care operators are seeing patient visits—and associated revenue—dwindle as people heed advice to stay home, where they’re less inclined to get sick or injured. As this period of self-isolation continues, they may be forced to consider cutting back on staff—or worse. However, U.S. Senate Bill 3548, also known as the CARES Act, would provide bridge loans to companies with fewer than 500 employees. The bill is expected to be passed by the House and signed by the president. The amount of the loans would be the average 1-month cost of payroll (excluding employees making over $100,000), rent, utilities, and service on debt incurred prior to the pandemic. There are no fees associated with the loan and loan balances that are used for payroll will be “forgiven.” However, the “forgiveness” would be reduced if workers are dismissed from their jobs. Once the legislation passes, applications will be processed through the Small Business Administration.