Be Proactive – When Should You Go After SBA Money and When Should You Pull The Money. A Dental CPA’s Perspective



As Dental CPA's we have gotten calls and emails regarding advise clients have gotten telling them not apply for your SBA Payroll Protection Program 7(a) loan yet. I disagree. I recommend that you be proactive and start the process. This does not mean you have to take the money. We have always said timing is everything, but get in the queue. SBA regulations are not out yet to provide guidance to banks. It may take time to find a bank you can work with. In addition it may take weeks from loan application to loan processing and fund disbursements.


Timing is Everything - Planning is Critical – Be Proactive – Comments Below:

[Based on what is known today – Regulation will change things going forward]


  • You do not want to take the money and not open for 8 weeks. You would burn through the forgiveness amounts and waste resources
  • You do not want to wait 2 weeks before opening because it may take much longer to get funding at that time.
  • You may need information from your accountant and that will take time
  • The longer you wait the longer it will take to get the loan processed
  • It will take time to ramp up production but you will likely need to retrain your staff on new protocols resulting from COVID-19
  • This money will likely run out. There are many other industries that will be drawing on this money
  • We are projecting practices to start bringing back staff within 3-6 weeks
  • Be proactive. Start the data gathering and loan process and work with your bank on timing
  • Once applications are filed and loans are approved you will likely have 30-60 days to draw on the money


My recommendation is be proactive.


Greig Davis

Dental CPA

Greig Davis CPA CVA MST


Dental ROI Associates PC – Dental CPA’s

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