Mar 28, 2020

How to Apply for the SBA Economic Injury Disaster Loan (EIDL) – REVISED!

Written By: Nate Williams

As recommended in a previous communication, we recommend applying for the EIDL loan; the first $10,000.00 will be a “grant” (free money) from the government if used for the following:

  • Providing paid sick leave (not applicable if your office is closed)
  • Maintaining payroll (not applicable if office is closed)
  • Making rent or mortgage payments (yes, applicable if you pay rent or if you have a loan on your building, a practice purchase or equipment loan)
  • Repaying obligations that cannot be met due to revenue loss (other bills)

To clarify, we recommend borrowing $10,000.00 on this loan; this is free money. Any additional amount you borrow is a formal loan that you will have to pay back; we only recommend you borrow more money if you actually need it.

Frequently Asked Questions:

  • Do I fill this out for my partnership or PC?
    • Fill this loan application out for your partnership. The purpose of this loan is to cover payroll for your employees and other necessary business expenses. Your largest expenses are going to be at the partnership level.
  • Do I fill out a separate application for my real estate entity?
    • No, fill this out for your dental practice only.
  • Do I fill this out in my own name, or the name of the practice?
    • Fill out this loan in the name of the practice and provide information (i.e. tax returns) from your practice.

For Single-Owner Doctors

  1. Follow the link to the SBA Application website and click on the link in yellow at the top of the screen:

  2. Select “Applicant is a business with not more than 500 employees.”
  3. Check the boxes below (review each question)
  4. Input your business information (Legal Name, Trade Name, EIN)
  5. Organization type will be S-Corp (For partnerships it will be “LLC”)
  6. Input Gross Revenues:
  7. Input Cost of Goods Sold:
  8. Rental Properties – Lost Rents due to the Disaster
    – This amount should be zero – you are filling this out from the perspective of the dental practice, not your real estate entity
  9. Input Business Address and other information
  10. Business Activity – Health Services
  11. Detailed Business Activity – Dental
  12. At the top of the Business Owner’s Information section, select “no” next to “Is your business owned by a business Entity?”
    – If you are a single-owner doctor, fill out your personal information as owner of the practice
    – If you are a partnership, fill out the personal information of each owner-doctor by clicking “Add Additional Owner” at the bottom of the screen
  13. Answer the questions on the final page, and be sure to check the box “I would like to be considered for an advance of up to $10,000”
  14. Input your Bank information, review information, and submit.

We hope this is helpful; if you have questions, please email:

PFG Advisory Team


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