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Dental Practice
Coronavirus (COVID-19)
Disaster Relief Resources

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nation’s leader
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Need help? Contact your eAssist Team or call 1-844-eAssist

During times of instability and uncertainty, it is important to remember the things you can rely on; eAssist is one of those things. We know all of this can be overwhelming, so we’re providing loan options, CARES Act updates, financial tips and other helpful resources to give as much peace of mind and financial relief as possible during the Coronavirus (COVID-19) pandemic.

If you have questions or need help with any of these items — whether you’re an eAssist client or not — our team is here to serve you. No cost. No obligation. We will do everything we can to help every dental practice survive this crisis.

eAssist is not giving any tax or legal advice. Clients and others should independently confirm all information and work with their professional advisors to identify and implement recommendations appropriate in their particular circumstances.

eAssist Clients

IIf you’re an eAssist client, you can contact your Success Consultant or Team Leader and they will gladly help you with loan applications or other assistance. If you aren’t sure how to contact your eAssist team, please call 1-844-eAssist and we can provide their contact information to you.

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Non-eAssist Clients

If you’re not an eAssist client, we still want to help! Please call 1-844-eAssist and our team will help walk you through loan options, applications, and other resources to help you.

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breaking news

Small Busines Administration (SBA) CARES Act Information

The CARES Act will provide much needed working capital to dentists during this crisis. We have analyzed the bill and will continue to review further developments. What we currently know is found below. Please revisit this page for updates often.

There are three different loan options to choose from, each have different features. Each loan option is listed below. If you aren’t sure which is best for your situation right now, It doesn’t hurt to apply for more than one loan—but you can only choose one to receive money from.

Loan OPTION 1

The SBA Economic Injury Disaster Loan (EIDL)

Apply now
Get Help Applying

Our eAssist Team is here and ready to help you complete your SBA EIDL Application. You can click here to email us, or call 1-844-eAssist for help. This service is free of charge, whether your’re an eAssist client or not.

As of March 28 at 2:00pm the SBA posted the following: The SBA is updating our system to implement this provision so small businesses can request an EIDL advance when they apply for the loan. This update will be available in the coming days. In the interim period, you can still apply for a full Economic Injury Disaster Loan, but will need to reapply for the Advance when the system is updated with a streamlined application. Once updated, the Advance will be included in your EIDL application process.

Maximum Amount of the Loan:

$2 million

Interest Rate

3.75% for small businesses; 2.75% for non-profits

Eligibility

Any business concern, non-profit organization (501(c)3), veterans organizations (501(c)19), or tribal business that employs less than 500 employees (per location) or meets size standard; sole proprietors, independent contractors, and eligible self-employed individuals non-profits receiving Medicaid expenses are ineligible.

Turnaround Time
  1. For the first 1,000,000 entities, a cash grant that does not have to be repaid of $10,000 is available within 3 days. (A provision to set aside $10 billion to be used directly for this purpose is in the CARES Act--hence the reason why this 10,000 grant is limited).
  2. The rest of the loan may take 3-6 months before the money is received.
Term

Up to 30 years

Deferment

Up to 6 months

Personal Guarantee

Required but may be waved—yet to be determined.

Forgiveness

$10,000 of any cash advance, if used to maintain payroll and monthly expenses.

Usage of Loan Proceeds

The SBA enforces limitations on how a business owner can use the funds provided. The funds must be used in accordance with the guidelines for SBA 7(a) loan usage. That said, SBA loans are well known to cover a wide variety of central business activities, making them an invaluable resource for any small business. You can find a summary of acceptable uses for SBA 7(a) Loan Proceeds here.

Loan OPTION 2

The SBA 7(a) Express Loan

Find a lender
Get Help Applying

You can apply for an SBA 7(a) Express Loan at many local banks. You can find a list of approved SBA lenders here. Alternatively, you can apply through a broker like Lendio.com for no additional fee.

Maximum Amount of the Loan:

$1 million

Interest Rate

4% (maximum)

Eligibility

Any business concern, non-profit organization (501(c)3), veterans organization (501(c)19) or tribal businesses that employs less than 500 employees (per location) or meets size standard. Sole proprietors, independent contractors, and eligible self-employed individuals. Non-profits receiving Medicaid expenses are ineligible.

Turnaround Time

36 hours

Term

10 years

Deferment

Up to 6 months

Personal Guarantee

Not required

Usage of Loan Proceeds

The SBA enforces limitations on how a business owner can use the funds provided. The funds must be used in accordance with the guidelines for SBA 7(a) loan usage. That said, SBA loans are well known to cover a wide variety of central business activities, making them an invaluable resource for any small business. You can find a summary of acceptable uses for SBA 7(a) Loan Proceeds here.

Loan OPTION 3

The SBA 7(a) Paycheck Protection
Program (PPP) Loan

Find a lender
Get Help Applying

You can apply for an SBA 7(a) Paycheck Protection Program (PPP) Loan at many local banks. You can find a list of approved SBA lenders here. Alternatively, you can apply through a broker like Lendio.com for no additional fee.

Maximum Amount of the Loan:

2.5 times the employer’s average payroll costs during the 1-year period before the loan is taken, up to $10 million. Which includes the following:

  • Wages (W2 employees and independent contractors)
  • Tips
  • Family Medical Leave (FML)
  • Health benefits
  • Retirement
  • State and local taxes
Interest Rate

4% (maximum)

Eligibility

Any business concern non-profit organization (501(c)3), veterans organization (501(c)19) or tribal business which employs less than 500 employees (per location) or meets size standard. Sole proprietors, independent contractors, and eligible self-employed individuals. Non-profits receiving Medicaid expenses are ineligible.

Turnaround Time

two weeks

Term

10 years (anything left over that isn’t forgiven)

Deferment

Up to 6 months

Personal Guarantee

Not required

Forgiveness

Any payment made between Feb 15, 2020 and June 30, 2020 for the following:

  • Payroll (including paid sick, medical or family leave)
  • Group health benefits
  • Rent
  • Mortgage interest
  • Utilities

Loan forgiveness rules:

  • The amount of forgiveness can be reduced by any change in staffing or payroll expenses.
  • Amounts forgiven shall be excluded from taxable income.
  • Businesses may not be forgiven for amounts paid for leave if they are eligible for a tax credit to offset the cost.
Usage of Loan Proceeds

The SBA enforces limitations on how a business owner can use the funds provided. The funds must be used in accordance with the guidelines for SBA 7(a) loan usage. That said, SBA loans are well known to cover a wide variety of central business activities, making them an invaluable resource for any small business. You can find a summary of acceptable uses for SBA 7(a) Loan Proceeds here.

sba
FREE WEBINAR FOR DENTISTS

What the $2 Trillion CARES Act
Means for Dentistry’s Survival &
Which SBA Loan Option is Best for Your Dental Practice

Monday, March 30th at
3pm ET / 1pm MT

Hosted by Warren Willis, DMD,
Taylor Andersons, JD, MBA, Brian Borg, DMD,
and James Anderson, DMD

REGISTER NOW

18 Immediate Actions for Dentists to Get Financial Relief

  1. Apply for a Small Business Administration Loan. There are three options available from the CARES Act: SBA Economic Injury Disaster Loan (EIDL), the SBA 7(a) Express Loan, or the SBA 7(a) Paycheck Protection Program (PPP) Loan. If you aren’t sure which is best for your situation right now, It doesn’t hurt to apply for all three—but you can only choose one to receive money from

  2. Check the eAssist Dental Financial Relief Map for more information relief loans in your state. There may be additional disaster recovery funds available from your local and state governments. Go to map

  3. Call your business insurance provider to talk about disaster coverage options.

  4. Stop all tax payments to the IRS. Even 2020 quarterly tax estimates. Note that the 2019 tax filing deadline has been extended to at least July 15th.More info

  5. Contact the bank that holds your practice loan. Ask them to stop payments and to reduce your interest rate. If they aren’t willing to reduce your rate, refinance your practice loan with an institution that will.

  6. Call your landlord and request rent abatement.

  7. Stop payments on your federal student loans.More info

  8. Call your business insurance provider to discuss if your policy will cover this disruption. Even if it doesn’t, we recommend filing a claim in the chance that laws change to force insurance companies to remove this clause.

  9. Stop non-essential autopayments withdrawing from your bank account. It's important that you pay your bills, but you want to be in control of your cash flow. Pay by check during this critical time in order to do so.

  10. Lock your credit cards (if available) or call your credit card companies and aask for new credit cards with new numbers to be sent to you in order for you to control what is being charged automatically to your cards. This will help you control what expenses you are authorizing.

  11. Don’t pay yourself as an employee or take out money as a dividend — take money as a loan instead. This is more fiscally responsible and helps approval odds for disaster relief loans—so make sure you aren’t putting yourself on payroll or receiving distributions.

  12. Refinance your mortgage, practice loan, building loan, commercial loan, and all other applicable loans. Take advantage of the interest rates while they are low and refinance while you can.

  13. Contact your utility providers, supply company, lab, and other vendors. Ask vendors for net-90 payment terms without interest (no payment needed for 90 days interest free), discounts, and put auto-orders on hold effective immediately.

  14. Guide your team to file for unemployment, even if they are working reduced hours. Your team may still qualify for unemployment-- if they’ve been furloughed or if their hours have been reduced. We do not recommend you lay off any team members at this time. Your people need your support now more than ever. It’s the right thing to do.

  15. Check the eAssist Dental Financial Relief Map for more information unemployment coverage options available in your state. Go to map

  16. Keep your cash flow up by following up on all aging and previous claims. Insurance companies are still open and paying claims. If you or your team aren’t able to do this in-house at this time, you can outsource this to eAssist. We can keep your collections and cash flow up, even if you’re facing closures—we only get paid if you get paid.

  17. Set up EFT payments from insurance companies and utilize portal submissions for claims to make sure you’re getting money in your bank account faster.

  18. Sign the ADA petition for a federal disaster relief for dental practices Sign the petition

Keeping Collections Flowing During the Coronavirus Crisis

eAssist’s core purpose is to deliver peace of mind. Right now, more than ever, we are living that purpose by helping our clients continue to see cash flow, even when facing shutdowns. We are working hard to make sure money is flowing into your practice when you need it most.

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If you need help staying on top of your claims call
1-844-eAssist or click here to get started with eAssist

GET Started

eASSIST DENTAL FINANCIAL RELIEF MAP

Find your state’s disaster relief loans & financial support options for dentists and teams

Our interactive map is being updated every day, in real-time, to reflect the best disaster relief loans and financial support options for your state. Have questions or need help filing for your loan? Our eAssist team is here for you—whether you’re a client or not.

click here to view funds
available in your state
Dr. Anderson video message

A message from our cEO

Curveballs are hard to hit. Although we heard reports of this virus in January in China, most of us didn’t suspect that it would affect the Americas. When Rudy Gobert was diagnosed and the NBA suspended their operations, everything changed—except our core purpose. eAssist exists to “Deliver Peace of Mind.”

As we collectively pause the practice of dentistry, we invite you to allow our eAssist team members to help you get all the money that is rightfully yours not only from dental insurance companies but also from government, business insurance, and other programs.

Let us assist you in applying for an SBA disaster relief loan, file your business insurance provider claim, stop payment on student loans, help refinance your practice and commercial loans, and all other programs available right now to help you provide for your team and prepare for your eventual return to the chair.

We will help you and together we will succeed.

James V. Anderson, DMD CEO, eAssist Dental Solutions

Helpful Links for Dentists Impacted by the Coronavirus (COVID-19) Pandemic

What you can do now

Apply for all loans available in your state, check the eAssist Dental Financial Relief Map for more information on relief options in your state. If you're not sure where to start in your application for the SBA Disaster Loan, our team can help. Contact your eAssist team, or call 1-844-eAssist. We are here for you.

What we’re doing for your dental practice

We’re still fighting for every dollar rightfully owed to you.

We’re still submitting existing claims and appealing denials whether your office is open or closed.

We’re still delivering our promise of peace of mind and collect 100% of what is owed to you.

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Helping us to help you

If you decide to close your office, please keep your eAssist computers and connected devices on so we can keep your collections and billing running smoothly.

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What to do if your dental practice is closing due to Coronavirus (COVID-19)

Many dentists are closing their doors to help stop the spread of Coronavirus (COVID-19). If you’re one of those dentists facing temporary closings, here’s a list of things you should do before you lock your doors.

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workplace

Teledentistry: What you need to know in the wake of Coronavirus (COVID-19)

With the spread of Coronavirus (COVID-19) temporarily closing offices around the country, there are more questions and demands for Teledentistry than ever. But what will insurance companies reimburse for these services?

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How to protect your practice and patients during the COVID-19 pandemic

The ADA, the White House, and many local and state-level governments have recommended, suggested, or enforced the shutdown of dental practices for non-essential and/or non-emergent cases.

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Let us balance your dental software with your
Quickbooks, merchant statement & your bank!

eAssist Dental Accounting Service

eAssist Dental Accounting is dental bookkeeping and accounting built by dentists for dentists. We understand the unique accounting needs that dental practices require.

Finally your Dentrix or Eaglesoft (or whatever software you use) and merchant statements are balanced with your day sheets, EFT insurance deposits, bank deposits and your QuickBooks! Your deposits and payments are accurately reconciled with your bank. We even pay your bills—if you’d like us to.

Move to Quickbooks® Online

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Access your financials 24/7. As an added bonus, we migrate your existing accounting files over to Intuit’s industry leading cloud-based QuickBooks Online at no charge to you. We pay your monthly fee! That’s right–you pay nothing to Intuit for Quickbooks Online as an eAssist Dental Accounting client.

Learn more about QuickBooks online and its advantages
by visiting www.quickbooksonline.com

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Weekly Bank Reconciliation

Your financial institution and all credit card accounts are automatically imported into your Quickbooks® online account on a weekly basis.

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Access Financial Reports 24/7

You’ll have access to all of your financial reports at any time in real time. No longer do you have to wait around for your CPA to prepare your financials at the end of each month before you know how well you are doing.

6 Reasons To Choose

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Don’t Worry about Balancing Your Checkbook

We’ll balance your checkbook for you. We create all of your accounting journal entires (deposits and payments/debits and credits) and categorize your expenses.

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Dental Software & EFTs are Reconciled!

We reconcile your dental software & merchant statements with your bank and with QuickBooks— a step often overlooked by non-dental specific accounting firms. This important task helps to prevent embezzlement.

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Bills Paid on Time

We pay your bills through your bank’s bill pay through limited access accounts. Your staff no longer needs to write checks to vendors or have access to your bank’s online account. Take your checks home and keep them safe!

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No Monthly Fee for
Quickbooks® Online

Free migration to QuickBooks® Online for 24/7 account access for you and your team with no monthly Intuit fee for eAssist Dental Accounting customers.

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Emailed Weekly Summary Reports

Receive weekly reports showing collections, expenditures and whether or not all bank debits and credits match. Know for certain that your practice is running efficiently.

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Payroll is Made Easy

Take advantage of our convenient eAssist Dental Payroll Service Add-on. You’ll be able to manage and track your payroll online at any time for staff and your admin team to submit and approve payroll.

Select the Level of Service You Need

and add the eAssist Dental Payroll Service add-on if desired

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Essential Bookkeeping Service for
Dentists & Specialists

Our eAssist Dental Accounting Essential Bookkeeping Service is just what you need to relieve you of the tedium of balancing the books whenever a deposit or a bill is paid. Your accountant and whomever else you choose will have complete access to your books at all times and in real time through QuickBooks Online.

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Advanced Bookkeeping Service
with Bill Pay

Take your dental accounting to another level of convenience and safety by adding our Advanced Bookkeeping Service with Bill Pay. We pay your bills through your bank’s bill pay through limited access accounts. Your staff no longer needs to write checks to vendors or have access to your bank’s online account. Take your checks home and keep them safe!

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Expert Bookkeeping Service with
Bill Pay and a CPA

With this full-service package, you get everything included in the eAssist Dental Accounting Advanced Bookkeeping Service with Bill Pay and an important bonus. We’ll provide you with a seasoned eAssist dental CPA who will file your quarterly and annual taxes. In addition, your eAssist dental CPA will hold virtual quarterly forecasting meetings with you to plan your best financial strategies.