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Reminder: PPP Loan Application Deadline Next Tuesday!
SBA Rolls Out Dedicated Tool for Small Businesses to Connect Lenders Participating in PPP

With only one week before the June 30th deadline for small business owners to apply for a Paycheck Protection Program (PPP) loan, the U.S. Small Business Administration (SBA) has launched a dedicated online tool for small businesses to be matched with Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), Microlenders, and traditional smaller asset size lenders in the Paycheck Protection Program (PPP).

SBA’s Lender Match is an additional resource for pandemic-affected small businesses who have not applied for or received an approved PPP loan to connect with lenders. Please note that this Lender Match does not accept Economic Injury Disaster Loan applications, only PPP loan applications.

Within two business days after entering their information into the Lender Match platform, borrowers will receive an email from lenders with whom they have been matched. Borrowers will be able to see lenders’ requests for them to begin an application, and they are then able to begin the application process directly from that email.

Source: SBA Press Release, “SBA Rolls Out Dedicated Tool for Small Businesses to Connect with CDFIs, Small Asset Lenders Participating in PPP,” Friday, June 19, 2020

Reminder: CARES Act Temporarily Suspended the -2% Sequestration Payment Adjustment on Medicare Fee-for-Service Payments

The MAC office has gotten a number of calls and emails regarding an increase in Medicare payments. One provision of the Coronavirus Aid, Relief, and Economic Security (CARES) Act – the major legislation passed in March in response to the COVID-19 pandemic – temporarily suspends the -2% payment adjustment applied to all Medicare Fee-For-Service (FFS) claims due to sequestration. The suspension is effective for claims with dates of service from May 1 through December 31, 2020. Unfortunately, the bill also adds a year to sequestration on the back end, postponing the sunset of sequestration in the Medicare program from the end of 2029 to the end of 2030.

Congress’ intent in passing this provision is to provide some financial relief to providers during the difficult economic times associated with the pandemic.

 
 
 
 

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