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PPP Loan

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How to Apply for PPP Loan Forgiveness

Most of the veterinary hospitals already exhausted their PPP loans by now.
What is the next step?

If you received your PPP loan before June 5, 2020, you have a choice to use 8 weeks period to use the funds or a 24-week period. Those periods are also known as a covered period. If you have received the funds after June 5, 2020, only a 24-week period is available. Just a reminder the funds will
qualify for forgiveness if they were used for qualified expenses. The full name is Paycheck Protection Program. The loans were meant to keep employees employed and cover their pay. Payroll expenses are eligible, retirement contributions paid by the company, employer portion of health insurance, and other nonpayroll eligible costs like rent, utility payments, and more. There is a very good chance if you go with a 24-week period, the full loan will be exhausted on wages unless a major difference in pay or number of employees occurred. For more details on which expenses qualify please tune in to our episode 5 and episode 6 where we discuss those in more detail. How to apply for forgiveness tune in to our episode 9.

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The JF Bell Group made our lives easier right from the start! They helped design, organize, and implement all of our financial systems and controls, providing just what we needed to successfully grow our practice. Since we purchased our first clinic in 1999, they helped us evaluate, and now manage a second clinic purchased in 2005. Today, they’re advising us as we prepare to close on a third practice in the spring of 2018...
John Coplin, DVMPresident, Willowcreek Animal Hospital
We have been using the JF Bell Group to help us track and manage the finances of Northgate Animal Hospital for over twenty-five years. Like many solopreneurs, we struggled running the practice and making good financial decisions. We discovered very early that running a practice is hard work and not a one person job. Fortunately, the JF Bell Group stepped in and partnered with us to keep our financial affairs in excellent shape...
Leslie H. Stone, DVMNorthgate Veterinary Hospital P. C.
Solutions By JF Bell Group, a practice management consultant will benefit our business and veterinary profession immensely. We have certainly seen the results with our veterinary emergency clinic business. Jim has been able to offer solutions with staffing, business management, and profitability issues without business. I would personally recommend any veterinary business needing help with management of their practice to give Jim and his group an opportunity to grow and profit from his expertise...
Brad J. Francis, DVMPartner/Owner, Idaho Falls Veterinary Emergency Clinic
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