April 7, 2020 ***Get your questions answered today, Tuesday, April 7 by President of NM Bankers Association, Jason Wyatt, Call 800-691-0270, p/w 154877#, at 11:00am. *****
MEDICAID
Guidelines and codes for COVID19-related Medicaid treatment and testing, including telemedicine and codes to use (April 6, 2020)
SMALL BUSINESS LOANS
There are two loan programs for small businesses under the stimulus bill: the Economic Injury Disaster Loan Program and the Paycheck Protection Program.
Under the Economic Injury Disaster Loan Program, a small business can borrow up to $2 million, with an immediate grant advance up to $10,000 that can distributed in three days to a business. Small businesses can apply for the loans through the U.S. Small Business Administration at
https://www.sba.gov/funding-programs/disaster-assistance
Applications also can be made through the SBA’s Small Business Development Centers. There are 19 centers in New Mexico, and they offer instruction and guidance on how to apply for the loans. The website for the centers is www.nmsbdc.org
Under the Paycheck Protection Program, a small business can borrow up to $10 million, with an interest rate of 1 percent. The SBA will forgive Paycheck Protection Program loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities. A small business must work through its lender to apply for a loan. For more information, go to www.sba.gov/paycheckprotection
In addition to the loans made available under the stimulus bill, the New Mexico Economic Development Department also has created loan-guarantee and no-interest loan programs for businesses. For more information, go to https://gonm.biz/about-us/covid-19-response
Financial Data Needed for Loan Forgiveness under the CARES Act
New Mexico FAQ sheet on Small Business Loans
Financial Assistance to Small Businesses Impacted by COVID19
– Shawn Matthis JD, March 30, 2020
NFIB COVID19 Webinar for Small Businesses
NEW MEXICO DEPARTMENT OF HEALTH
CoVID19 Clinician Page at NM Department of Health
https://cv.nmhealth.org/clinicians/
FEDERALLY QUALIFIED HEALTHCARE CENTERS
- FQHCs with less than 500 employees may apply for the Paycheck Protection Program and the FFCRA (Emergency Leave Programs)
- Regardless of their size, FQHCs may apply for SBA loans.
- All Health Center employees and contractors may seek assistance through Federal Pandemic Unemployment Assistance; our national organization says Pandemic Emergency Unemployment Compensation (PEUC) is most relevant to Health Center grantees.
- FQHCs are eligible to request accelerated Medicare payments – up to three months of their average Medicare revenue.
- FQHCs and FQHC Look A Likes will be eligible for relief in the CARES Act
- On March 24th FQHCs received $100m in COVID-19 fund Awards (NM Health Center grantees received $1,175,940)
- FQHCs are to receive $1.3B in additional aid through the CARES Act – to be awarded sometime in the next 14 days
- National Association of Community Health Centers – Cashflow and Payroll Options During COVID19 Crisis
How to get help for your practice under the CARES Act (April 4, 2020)
CENTERS FOR DISEASE CONTROL AND PREVENTION