The National Chiropractic Mutual Insurance Company, which became a Paycheck Protection Program (PPP) lender after learning many chiropractors were struggling to get loans via other channels, ultimately funded nearly $5 million in loans through the program, which originally expired on June 30, 2020, but subsequently was extended until Aug. 8.
"From the beginning, our mission has been to help DCs and the profession in any way we can," said Mike McCoy, CEO of NCMIC. "When COVID-19 forced many practices to pause, we knew it would cause hardship not just for our policyholders, but for the chiropractic profession. By becoming a PPP lender, we were able to fund nearly $5 million to help hundreds and hundreds of DCs. In some cases, that funding was the reason practices were able to avoid closing for good. Knowing that we could make that difference for doctors, for staff, for patients, and for the families of all of those people – how could we live with ourselves if we didn't? It's a matter of compassion and doing the right thing.
"As a company and as individual people we're all just thrilled and grateful that we were able to step in and support chiropractors when they needed us most."
To learn more about how NCMIC stepped up on behalf of the chiropractic profession by becoming a PPP lender, read "A Lifetime to Help DCs Survive the Pandemic" in our August issue.
