COVID-19 Stimulus Package: What is Means for Veterinary Professionals April 3, 2020

COVID-19 Stimulus Package: What is Means for Veterinary Professionals

Two extensive packages of legislation enacted in the past few weeks in response to the COVID-19 pandemic include many provisions that may be helpful to veterinarians, and the American Veterinary Medical Association (AVMA) is developing resources to help veterinarians learn more about the expanded benefits and programs now available to them.

Veterinarians and veterinary health care professionals working in small business environments can benefit from several new or expanded benefits established in the Families First Coronavirus Response Act and Coronavirus Aid, Relief and Economic Security Act (CARES Act). This includes:

  • emergency medical leave
  • paid sick leave
  • expanded unemployment insurance
  • suspension of federal student loan payments and interest accrual
  • tax credits for small businesses
  • new loan programs to assist small businesses, independent contractors and the self-employed

who are coping with the financial impacts of COVID-19.

Federal agencies are moving quickly to implement the COVID-19 stimulus measures. The Treasury Department says lenders will be able to begin processing applications for forgivable small-business loans through the Paycheck Protection Program as early as this Friday, April 3, with approval possible the day of application. The Small Business Administration (SBA) has posted a sample loan application to help potential applicants.

To help veterinarians understand and access the new benefits and relief measures available to them, the AVMA has developed several resources available on AVMA’s website, with more in development. This includes:

All of these are available on the AVMA’s COVID-19 webpage along with a wide range of other practical resources to help veterinarians and veterinary practices navigate the coronavirus pandemic.

The AVMA anticipates more clarification on these measures in the days and weeks ahead, and will be updating its resources as soon as possible with the latest information to help the profession through this difficult time.


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