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

Importance of Compliance Training for DMEPOS Businesses thumbnail Importance of Compliance Training for DMEPOS Businesses Compliance training: Protecting your business interests through effective regulatory training programs enhances risk management, customer trust, and efficiency. What Do CMS' Fraud Efforts Mean for DME? thumbnail What Do CMS' Fraud Efforts Mean for DME? Discover how CMS's new fraud prevention initiatives, including AI-driven claim analysis and the WISeR model, impact DME providers. Unlocking the Power of AI: A Practical Guide for Business Transformation thumbnail Unlocking the Power of AI: A Practical Guide for Business Transformation Read how organizations in HME can harness artificial intelligence (AI) effectively and responsibly. November 2025: We Are Unstoppable thumbnail November 2025: We Are Unstoppable Learn about growth in Q4 2025 despite market challenges, leveraging HSA/FSA dollars, navigating tariff changes, & preparing for competitive bidding. Smart Products, Greater Freedom: Transforming Life for Wheelchair Users thumbnail Smart Products, Greater Freedom: Transforming Life for Wheelchair Users The transformation of smart home devices and accessibility products is empowering wheelchair users with greater autonomy and safety in their daily lives. October Reflections: Change, Community, and Commitment in O&P thumbnail October Reflections: Change, Community, and Commitment in O&P As we look forward, what should we be thinking about? What investments do we need to be making in our businesses and where do we direct our limited resources? These are the right questions. Ruthless efficiency requires the right tools and partners. With so many options out there the choices are dizzying. That's why community is so important. Smart Products, Greater Freedom: Transforming Life for Wheelchair Users thumbnail Smart Products, Greater Freedom: Transforming Life for Wheelchair Users The transformation of smart home devices and accessibility products is empowering wheelchair users with greater autonomy and safety in their daily lives. VGM & Associates Releases Strategic Business Planning Playbook thumbnail VGM & Associates Releases Strategic Business Planning Playbook “VGM Playbook: Disrupting the Traditional HME Strategy” is now available to help VGM members rethink their approach to strategic business planning in today's rapidly evolving HME landscape.

Give your business an advantage over the competition.

Become a Member