NCMIC Funds More Than $4 Million in PPP Loans
We became a PPP lender to help DCs in need.
Posted in Coronavirus on Tuesday, June 16, 2020
After becoming a PPP lender in early June, NCMIC Group, Inc., has funded more than $4 million in loans to chiropractors.
The Paycheck Protection Program was founded to provide loans to help small businesses cover expenses during the COVID-19 crisis. However, reserves were quickly depleted, and many small business owners, including chiropractors, were unable to obtain the funding they needed.
As NCMIC heard from concerned chiropractors nationwide, the company saw the opportunity to step in and help policyholders, non-policyholders, and the chiropractic industry as a whole. After being vetted, the company received Small Business Administration approval to facilitate a number of PPP loans and has provided more than $4 million in assistance thus far.
“NCMIC has been an answer to months of prayers, time, and energy,” says Dr. Becky Fischer, whose loan was funded in early June. “I still can't believe it.”
“We know many practices are experiencing challenging times right now — the loans we're funding are often the reason DCs are able to keep their doors open or continue paying their staff,” said Tony Dickinson, President, NCMIC Finance Corporation. “We're grateful to have this opportunity to help the doctors and the industry we're passionate about serving.”
“Loyalty to the profession has been engrained in this company since we were founded,” said NCMIC President Wayne Wolfson, D.C. “We will keep doing the right thing for chiropractors, whatever the world brings.”