Frisco medical practice furloughs 50 more staffers after being rejected for small business loan
Bent Tree Family Physicians, a longtime medical practice in Frisco and North Dallas, has furloughed another 50 employees after a small business loan failed to materialize as expected.
“They told me, ‘The money’s all gone,’” said Dr. Guy Culpepper, who founded Bent Tree in 1987 and has helped serve over 25,000 patients.
The practice is continuing to operate, he said, because five physicians are working without pay and a skeleton crew is helping answer phones.
Culpepper applied for a loan under the government’s paycheck protection program, which is intended to help small businesses retain their employees. Companies can borrow about two months of payroll and expenses, and have the loans forgiven if they hold on to their workers.
Read more: https://www.dallasnews.com/business/health-care/2020/04/20/frisco-medical-practice-furloughs-50-more-staffers-after-being-rejected-for-small-business-loan/