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AmSpa COVID-19 Resource Center

AmSpa Coronavirus Resource Center

Resources and Information to Support Your Medical Aesthetic Practice

CARES Act Stimulus Resources

Blogs
PPP Update: Forgiveness Application
May 18, 2020
Read Here

PPP Update: What If I Can't Re-hire an Employee?
May 6, 2020
Read Here

New PPP Rules Define Start of Forgiveness Period
April 30, 2020
Read Here

Can Your Employees Decline Re-employment in Favor of Unemployment Benefits?
April 24, 2020
Read Here

New Funding for PPP and EIDL Loans
April 23, 2020
Read Here

COVID-19 Insurance Frequently Asked Questions
April 23, 2020
Read Here


Letter from Alex Thiersch, CEO of AmSpa: All the CARES Act Loan Information Currently Available

It’s been less than a week since the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed and today (Friday, April 3rd, 2020), loan applications for funds created by the act are being accepted for the first time. As you can imagine, there’s a lot of conflicting information out there about what is available, what is needed from applicants and what the conditions of these loans are and the situation is a very fluid one. It’s creating a great deal of confusion at a time when that’s the last thing small business owners need.

To that end, AmSpa is teaming up with its contacts in the legal, financial and governmental realms to provide you as much accurate information as possible. In the past few days, we’ve posted several blog posts that go in depth into the special loans being made available and how small business owners can obtain them, conducted a webinar discussing these loan programs and what small business owners need to know about them and posted a video addressing the issues that are emerging from the banking sector. And we’ll continue to cover this hugely important topic with whatever accurate information emerges next as it becomes available.

Here’s a quick look at what you need to know:
  • What are we talking about? Primarily, the Paycheck Protection Program (PPP) loans being made available to small business owners through the CARES Act.
  • How will they help? The PPP loans will provide 2.5 times your average monthly payroll costs (to a maximum of $10 million)—see the next bullet point t. The entire amount of the loan can be forgivable, provided you spend it on approved payroll and operating costs within the first eight weeks after the loan is made. In order to qualify for 100% forgiveness, you must maintain your number of employees and their wage levels, and 75% of the PPP loan funds must go to employment costs (25% can go to mortgage interest, rent and utilities). You also have the option of refinancing a U.S. Small Business Administration (SBA) economic injury disaster loan into this program if you wish.
  • What are “payroll costs?” Payroll costs include compensation paid to employees. This can be salary, wages, commissions, estimated tips, paid leave (vacation, PTO, sick, family leave), and severance pay, payments made for employee benefits, such as group health coverage, insurance premiums, retirement plans, state and local taxes on compensation. Payroll costs do not include compensation to employees who reside outside the United States, employee compensation in excess of $100k, Federal employment (FICA) taxes, income taxes withheld, and payments for sick and family leave provided under the Families First Coronavirus Response Act. Additionally, independent contractors are not included in payroll costs.
  • When should you apply? If your financial institution is currently offering PPP loan applications, apply immediately. Applications were to open starting today, April 3, 2020, but some lenders are not accepting them yet. Please also note that some of the loan process details are still being worked out with many banks, so processing may be delayed. If you work directly with someone at the bank, ask them to let you know what’s happening ASAP. Loans can be issued as late as June 30th provided there are still funds available.
  • What do I need to apply? You will need:
    • Payroll expense verification documents, including:
      • IRS Form 944 for 2019
      • IRS Form 941 for most recent quarter reported
      • Payroll Summary Report detailing individual employee payroll data for 2019
      • Detail of employee payroll benefits including vacation, allowance for dismissal, group healthcare benefits, retirement benefits, etc.
      • Certification that all employees live within the United States. If any do not, provide a detailed list with corresponding salaries of all employees outside the United States.
    • 2019 financial statements or 2019 federal tax return
    • Articles of incorporation or organization of each borrowing entity
    • Bylaws or operating agreement of each borrowing entity
    • Driver’s licenses from all owners with ownership of at least 20%
    • Most recent mortgage statement or rent/lease agreement
    • Most recent utility bills (electric, gas, water, telephone)
  • When can I expect to see money from this? At this point, it’s impossible to say, since none of the loans have been processed yet. However, it is expected to take at least three weeks. Practically every small business in the U.S. is applying for these loans, and it’s very likely that will create a glut that lenders will be working through for some time. Do also understand that currently this program has a limited amount of funds ($349 billion) and loans are made on a first-come first-served basis. Once the money is used up, no additional loans can be made (unless Congress authorizes more funding). So do not delay in applying.
  • How is this loan forgiven? Up to 100% of the loan can be forgiven if the money is spent within the first eight weeks on at least 75% on payroll costs and 25% on payments for interest on mortgage payments, rent and utilities. Any payments on interest or rent must be for obligations that started before February 15, 2020. Additionally, the forgivable amount can be reduced if you reduce employee wages below 24% or have fewer full-time employees when compared to the same period last year or during January and February of this year.
  • What are the loan terms? For loan funds that are not forgiven, the terms are for 2 years at 1% with no payments due for the first six months (although interest still accrues).

This is an unprecedented time for medical spa owners, and it is hugely important that they receive the most accurate, timely information available. We at AmSpa are uniquely positioned to provide that for you. This industry is incredibly resilient, but we’re facing a challenge unlike any we’ve ever seen. Help is on the way, but it’s not here yet. Hang in there, if you can. We’re all in this together, and we’ll do anything we can to help medical aesthetic practices through this phenomenally difficult time.


US Treasury Paycheck Protection Program FAQ
US Chamber of Commerce PPP Loan Guidance Sheet
Sample Rent Abatement Letter (Members Only)

Do you have any specific questions or challenges you need help with?
Contact us, and we'll do our best to provide assistance.

AmSpa Resources

Podcasts

Re-opening Toolkit for Medical Spas
Recorded: Thursday, April 30, 2020

In this special episode of Medical Spa Insider, join Alex Thiersch and panelists Christie Hutchinson, QCC Healthcare Consultants; Brad Adatto, Michael Byrd and Renee Coover, ByrdAdatto as they go over what medical spas need to begin the process of reopening their businesses.

Read AmSpa's re-opening checklist here.

Download AmSpa's re-opening toolkit here.
Weekly PPP Update: Program Refunded, Loan Forgiveness Details, and Beginning to Re-open
Recorded: Monday, April 27, 2020

This week's update on the Paycheck Protection Program discusses recent program updates. Additionally, the panelists talk about the program being refunded, provide some guidance on loan forgiveness, and touch on the states that are beginning to re-open for business.
Panelists:
  • Alex Thiersch, JD, CEO and Founder, American Med Spa Association
  • Patrick O'Brien, JD, Legal Coordinator, American Med Spa Association
  • Michael Byrd, JD, Partner, ByrdAdatto
  • Brad Adatto, JD, Partner, ByrdAdatto
  • Ben Hernandez, Partner, Skytale Group
How Do You Show Leadership in Crisis?
Recorded: Thursday, April 23, 2020

Beto Casellas, CEO of CareCredit, and Bill Reiner, chief security officer of Synchrony Financial, talk about the coronavirus outbreak and what it takes to lead a company during uncertain times. How do you react to crisis? What steps do you take to communicate with your team? What can you do to keep everyone safe, both now and as states begin to come out of shelter-in-place?
Additional PPP and COVID-19 Updates for April 21, 2020
Recorded: Tuesday, April 21, 2020

The CARES Stimulus bill and its PPP program is a fluid situation. This podcast will cover the new updates with the program since last week and will provide insight how to get the most support possible from the CARES Stimulus bill for your medical spa. Are people getting funds? What should you do now that funding has run out?
PPP Progress and Other COVID-19 Updates
Recorded: Wednesday, April 15, 2020

The CARES Stimulus bill and its PPP program is a fluid situation. This podcast will cover the new updates with the program since last week and will provide insight how to get the most support possible from the CARES Stimulus bill for your medical spa.
The CARES Stimulus and Med Spas, MSOs, and Independent Contractors
Recorded: Wednesday, April 8, 2020

Recording of a Live Q&A About What You Need to Know With:
  • Alex R. Thiersch, JD, Founder and CEO, AmSpa
  • Patrick O'Brien, JD, Legal Coordinator, AmSpa
  • Ben Hernandez, Partner, Skytale Group
  • Jessica Nunn, Partner, Skytale Group
  • Michael Byrd, Founder and Partner, ByrdAdatto
  • Brad Adatto, Founder and Partner, ByrdAdatto
Generating Income When Closed Due to Coronavirus
Recorded: Monday, April 6, 2020

Board-certified dermatologist Leslie Baumann, MD, talks about how online skin care helps her bring in revenue in a world of social distancing, and how her online software company—Skin Type Solutions—can help other practices do the same.
A Conversation With Allergan
Recorded: Monday, March 30, 2020

Tune in for an update on how Allergan is dealing with this crisis from a general standpoint, how Allergan is helping its small business clients, and advice for folks who are nervous about bills and inventory. Alex Thiersch, AmSpa Founder and CEO chats with Carrie Strom, SVP, US Medical Aesthetics and Brent Foster, Associate Vice President, Allergan Practice Consulting Group about topics like:
  • What insights does Allergan have about the impact of the virus on the aesthetics market?
  • What is Allergan doing today to help customers?
  • What plans does Allergan have to stimulate the market once we can reopen?
  • Do you think interest for aesthetics procedures will still be strong post-COVID-19?
How To Get Relief From Stress and Anxiety During This Difficult Time
Recorded: Friday, March 27, 2020

Learn practical ways to get relief from stress and anxiety during this difficult time. Wendy Collier will offer things you can do each day to give you a break from feeling worried so you can be your more positive self. This includes a powerful daily practice you can do first thing each morning that will make a BIG difference in your entire day. Wendy will also share 5 ways you can manage any fears that come up so you can tackle the challenges that are in front of you, much more effectively and productively.

Business Strategies to Cope with COVID-19
Recorded: Wednesday, March 25, 2020

The slowing economy and uncertainty is topic #1 in recent days. This discussion will highlight what we have control over at this volatile time. Learn strategies that provide you a baseline of information of how you can stay in action when and if appropriate for you.
  • Finance: Determining Cash Flow – Prioritize What You Have to and Can Skip Paying
  • Finance: Negotiating with Vendors to Extend Your Terms and Get You Through
  • Team: Transparency, Training, and Being a Good Source of Information and a Leader During a Crisis
  • Virtual Tele Medicine and Video Conferencing: Using Systems to Allow You to See Patients for Consults, Pre-operative Visits and Post-operative Visits
  • Train on Technical: Recommendation and Selling Skills during Possible Closure
  • Putting a Virtual Special Sales Event Together to Create Cash Flow Now
  • Advanced Gift Card Sales and Package Incentives Online
  • Consider a Concierge Travel Service
Presenter: Bryan Durocher, Durocher Enterprises For the sample letter Bryan mentions, along with links to other resources, click here to download.
Managing Cash Flow Amid the COVID-19 Crisis
Recorded: Tuesday, March 24, 2020

Jessica Nunn, partner of Skytale Group, will be on live with Alex to discuss some ideas for managing and preserving cash flow in this difficult time.

COVID-19 and Your Medical Spa: Not Business as Usual
Recorded: Friday, March 20, 2020

Learn how some of the industry's leaders are handling the situation surrounding COVID-19 at their own businesses. Nicole Chiaramonte, owner of Synergy MedAesthetics, Kennewick, Washington; Marria Pooya, managing partner of Greenwich Medical Spa; Bryan Munshower, co-owner of Beauty Marx in Doylestown, Pennsylvania; and Ben Chew, owner/administrator of Illume Aesthetics, Ashland, Oregon, join us to discuss what they're doing to address the issues that are emerging.

Coronavirus and Your Medical Spa: Medical and Business Perspectives
Recorded Tuesday, March 17, 2020

Dr. Robin Patel, the director of the Infectious Diseases Research Laboratory at the Mayo Clinic and the president of the American Society for Microbiology, helps answer the questions you have regarding the virus itself and its spread. Additionally, Kim Chambers, HR Generalist from Cognos HR, helps answer the questions you have regarding how the coronavirus will affect your business.

Webinars

Using Social Media Effectively During the COVID-19 Crisis
Recorded April 2, 2020

In this webinar, Aly Boeckh and Michela Bailey will provide attendees with a social media survival kit during the COVID-19 pandemic. They will share tips on how to stay relevant on Instagram; what content to share, memes and quotes to try out; the basics of Tik Tok; how to do IG Live; how to use empathy in captioning; and many more tips and tricks that will help you stand out amongst the saturation in the social media world today.
Presenters:
Aly Boeckh, Senior Social Media and Brand Marketing Coordinator, AmSpa
Michela Baily, Social Media and Marketing Assistant, AmSpa
Business Funding Through the CARES Act: What Your Business Can Do Right Now
Recorded April 1, 2020

Alex Thiersch, JD, CEO and founder of AmSpa and Patrick O'Brien, Legal Coordinator for AmSpa, will run through the requirements of getting a loan and what you need to start preparing, including:
  • Who qualifies;
  • How much they can get;
  • What documentation they’ll need;
  • What the process is like;
  • And more.
Business as Un-Usual: Convert your Medical Spa to a Remote Business with Telehealth
Recorded: March 31, 2020

As the coronavirus forces aesthetic businesses across the nation close the doors to their physical locations, a group of forward-thinking medical spas are adapting to this new reality by leveraging telehealth to proactively maintain remote touchpoints with their patients. Avoid the costly mistake of shutting down your entire business during this time of uncertainty by understanding the difference between virtual consultations and true telehealth.
Presenter: Ronald Khadaran, Senior Vice President, Marketing, Symplast
COVID-19 and its Effect on Retirement and Investment Accounts
Recorded: March 26, 2020

This AmSpa live broadcast will discuss the recent market volatility surrounding the international COVID-19 pandemic, as well as how the stock market has historically performed during the onset of other infectious diseases.
Presenter: John Fisher, CFP, Vice President, Wealth Management, GCG Financial, LLC
How Do Small Businesses Handle Employment Issues During the COVID-19 Outbreak?
Recorded: Thursday, March 19, 2020, 11am Central Time

In this webinar recording, Renee Coover, JD, partner with ByrdAdatto, addresses concerns that small businesses are facing across the country as the COVID-19 outbreak fundamentally changes the way we work and the economic landscape. Renee provides guidance on wage and hour considerations; how to handle sick or potentially sick employees; employee travel restrictions; telecommuting and alternative means of providing services to clients; vacation, PTO and sick leave policies for small employers; employee leaves and the intersect of the ADA, FMLA, and NLRA; The Families First Coronavirus Response Act, HR 6201; and changes in working conditions in response to this global outbreak.
Coronavirus—What It Means for Your Business
Recorded: March 10, 2020

In this free webinar, you will learn what you need to do to ready your medical spa for an outbreak—how to prepare your employees, address regulatory concerns and create a viable plan of action. Regardless of what happens next with the Coronavirus outbreak, your medical spa should take the time to evaluate its preparedness and make adjustments where needed.

Blogs

New PPP Rules Define Start of Forgiveness Period
April 30, 2020
Read Here
Can Your Employees Decline Re-employment in Favor of Unemployment Benefits?
April 24, 2020
Read Here
New Funding for PPP and EIDL Loans
April 23, 2020
Read Here
COVID-19 Insurance Frequently Asked Questions
April 23, 2020
Read Here
Get Ready to Roll With AmSpa’s Re-opening Toolkit for Medical Spas
April 22, 2020
Read Here
Texas Medical Board Issues Emergency Rule Relating to Executive Order GA 15
April 22, 2020
Read Here
Does New Texas Executive Order Let Med Spas Re-open?
April 21, 2020
Read Here
Letter From the CEO: When Will It Be Time to Re-open?
April 20, 2020
Read Here
More Detail On New Unemployment Programs
April 17, 2020
Read Here
ALERT: SBA Relief Loans Run Out of Money
April 16, 2020
Read Here
URGENT: Information on CARES Act Business Loans and Programs
April 2, 2020
Read Here
The CARES Act: Retirement Plan Provisions
April 2, 2020
Read Here
CARES Act Update: Loans, Tax Relief and Other Information
April 1, 2020
Read Here
Medical Spas are Struggling and Need to Prepare Now to Apply for Monetary Aid
March 31, 2020
Read Here
I Can’t Work Right Now—What Can I Do?
March 30, 2020
Read Here
Concierge Medicine in a Time of Crisis
March 27, 2020
Read Here
AmSpa Issues Results of COVID-19 Medical Spa Financial Status Survey
March 27, 2020
Read Here
No Longer Elective: States Lay Down the Law
March 26, 2020
Read Here
5 Things We Can All Do Right Now to Make Things a Little Easier
March 25, 2020
Read Here
Doctors Without Clinics: The Overnight Rise of Telemedicine to Combat COVID-19
March 25, 2020
Read Here
What to Do Right Now: Essential Business Strategy & Tactics During Challenging Times
March 24, 2020
Read Here
States Adjust Unemployment Requirements in Face of COVID-19
March 20, 2020
Read Here
Letter from the CEO: It’s Time for All Medical Spas to Close
March 19, 2020
Read Here
The Pandemic, Elective Surgical Care and Informed Consent
March 19, 2020
Read Here
A Look at the Federal COVID-19 Relief Bills
Updated March 19, 2020
Read Here
How the SBA Can Help Your Medical Spa During the COVID-19 Outbreak
March 18, 2020
Read Here
UPDATE: What Your Medical Spa Needs to Know About the Coronavirus Part 2
March 12, 2020
Read Here
What Your Medical Spa Needs to Know About Coronavirus
February 26, 2020
Read Here

Re-opening Resources

FAQ for Re-opening During COVID-19
Click Here
AmSpa's Re-opening Toolkit
Click Here
State and Local COVID-19 Status Information
Click Here
State-by-State Library of Executive Orders
Click Here
OSHA Guide to Preparing Workplaces for COVID-19
Click Here
Pandemic Preparedness in the Workplace and the Americans with Disabilities Act
Click Here
When Can I Re-open?
Read Here
Re-opening Checklist
Read Here

State and Local Resources

Additional state and local resources are constantly being released, and we'll do our best to continually research additional options as they become available.
California
Los Angeles City Small Business Emergency Microloan Program
In light of the sweeping impact the COVID-19 pandemic is having on our small business community, the City of Los Angeles has responded swiftly and decisively to support our local, community businesses. The newly established Small Business Emergency Microloan Program now provides financing needed to strengthen small business enterprises in this time of acute need that have been affected by the COVID-19 outbreak.
Read Here
San Francisco Assistance & Guidance for Businesses and Workers Impacted by COVID-19
This page contains resources for San Francisco employers and employees concerning the COVID-19 outbreak. This is a rapidly evolving situation, and this page will be updated as more information is made available.
Read Here
Connecticut
Connecticut Recovery Bridge Loan Program
Under the Connecticut Recovery Bridge Loan program, a qualifying business or nonprofit organization can apply for a no-interest loan of up to $75,000 or three months of operating expenses (whichever is lesser).
Read Here
Colorado
Denver Announces Initial Economic Relief Package for Businesses, Employees
The City and County of Denver is committed to identifying, developing and implementing local programs, including financial and wrap-around services, to support Denver business owners and their employees affected by the city’s public health response to COVID-19. The city is creating an initial relief fund of $4 million to support small businesses during this time.
Read Here
Florida
Florida Small Business Emergency Bridge Loan Program
The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19.
These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.

Read Here
Illinois
Chicago Small Business Resiliency Fund
As a response to this challenge, the City is establishing a $100 million Chicago Small Business Resiliency Fund, which will help to provide small businesses with emergency cash flow during this immediate health crisis. Funds will be provided to eligible businesses as low-interest loans that can be repaid over a term of up to five years.
Read Here
Iowa
Iowa Small Business Relief Fund
On Monday, March 23, Governor Reynolds announced a new Iowa Small Business Relief Program that will provide financial assistance to small businesses and tax deferrals to any Iowa businesses that have been economically impacted by the COVID-19 pandemic. Application deadline is Tuesday, March 31, at 12 p.m.
Read Here
Maryland
Maryland COVID-19 Emergency Relief Fund Programs for Businesses
Maryland has authorized $130 million in loan and grant funding for small businesses and manufacturers that have been negatively impacted by the Coronavirus (COVID-19). This emergency assistance provides interim relief and proceeds that can be used to pay cash operating expenses including payroll, suppliers, rent, fixed debt payments and other mission critical cash operating costs.
Read Here
COVID-19 Layoff Aversion Fund - Workforce Development and Adult Learning
Governor Larry Hogan and the Maryland Department of Labor have launched the new COVID-19 Layoff Aversion Fund, which is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. The award (up to $50,000 per applicant), will be a quick deployable benefit and customizable to the specific needs of your business to minimize the need for layoffs.
Read Here
Massachusetts
Massachusetts COVID-19 Loan Fund
A loan fund of $10 million has been created to provide financial relief to Massachusetts businesses that have been affected by COVID-19.
Read Here
Michigan
Resources for Michigan Businesses During COVID-19
The Michigan Small Business Relief Program will provide up to $20 million in support for small businesses negatively impacted by COVID-19. The funding is divided between $10 million in small business grants and $10 million in small business loans to support businesses facing drastic reductions in cash flow and the continued support of their workforce. Funds for the program are expected to be available no later than April 1, 2020.
Read Here
New York
NYC Small Business Continuity Loan Fund
To help small businesses deal with the impact of COVID-19, the City has launched the NYC Small Business Continuity Loan Fund to companies as they face decreased revenue. Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero interest loans of up to $75,000 to help retain employees and ensure business continuity. The loan can be deployed for a variety of uses, including working capital, inventory, or other investments.
Read Here
NYC Employee Retention Grant Program
To help small businesses deal with the impact of COVID-19, the City has launched the Employee Retention Grant Program to help retain employees as businesses face decreased revenue. This program is available to New York City businesses with one to four employees that can demonstrate at least a 25% decrease in revenue as a result of COVID-19. Eligible businesses will receive a grant covering up to 40% of their payroll for two months. Businesses can access up to $27,000.
Read Here
Pennsylvania
COVID-19 Working Capital Access Program (CWCA)
The COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak.
Read Here
Philadelphia COVID-19 Small Business Relief Fund
Providing some small businesses impacted by the COVID-19 pandemic with immediate relief through a mix of grants and loans.
Read Here
Utah
Salt Lake City’s Emergency Loan Program
The purpose of this loan program is to provide financial relief to small businesses that will most likely see a downturn in business due to an unforeseen emergency. The program is intended to help businesses keep their employees and stay afloat during a time of economic hardship. It is meant to bridge the gap for what may be a shortened financial hardship period.
Read Here
Washington DC
DC Small Business Recovery Microgrants
Mayor Bowser and the Council of the District of Columbia are investing $25 million in the COVID-19 Recovery Effort and the DC Small Business Recovery Microgrants Program, which will be housed in the Office of the Deputy Mayor for Planning and Economic Development. Pursuant to the “COVID-19 Response Emergency Amendment Act of 2020” effective March 17, 2020 (D.C. Act 23-247), the DC Small Business Recovery Microgrants Program will offer grants to small, local businesses, independent contractors, self-employed individuals, and nonprofits to meet their short-term financial needs. The grant can cover employee wages and benefits (including fringe benefits associated with employment, such as health insurance), accounts payable, fixed costs, inventory, rent, and utilities.
Read Here
Wisconsin
Small Business 20/20
The Wisconsin Economic Development Corporation launched Small Business 20/20—a $5 million grant program that will give companies with less than 20 employees up to $20,000.
Read Here
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 Chicago, IL 60661

Phone: 312-981-0993

Fax: 888-827-8860

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AmSpa provides legal, compliance, and business resources for medical spas and medical aesthetic practices.

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