After becoming a PPP lender in early June, NCMIC Group Inc. has funded more than $1 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 $1 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.”
The company will continue to fund loans until the program closes on June 30, 2020.
DCs who have not yet applied and still need assistance are encouraged to verify eligibility and submit an application as soon as possible.
“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 ingrained in this company since we were founded,” said NCMIC President Wayne Wolfson, DC. “We will keep doing the right thing for chiropractors, whatever the world brings.”
About NCMIC Group Inc.
NCMIC was formed in 1946 by a group of doctors of chiropractic with the express purpose of offering malpractice insurance to DCs when no one else would. Delivering on its promise, ‘We Take Care of Our Own,® NCMIC has grown to become the largest provider of chiropractic malpractice insurance in the nation and has expanded its offerings to include business and personal insurance, equipment loans, credit card processing, business credit cards and premium financing. With more than 70 years’ experience and an “A” (Excellent) rating from industry analyst A.M. Best, NCMIC is a company that DCs can rely on today and in the years to come.