As one of the fastest-growing U.S. cities of the past decade, Las Vegas is experiencing a shortage of doctors to serve its expansive population. The Clark County Medical Society, made up of medical students and professionals, is dedicated to teaching and training doctors to serve southern Nevada.
With four employees, the COVID-19 pandemic hit the organization hard. All of the organization’s events and face-to-face interactions were cancelled, and many of its physician members were forced to shut down their practices. Medical students – the lifeblood of the organization – were also sent home from one of the region’s three medical schools.
Facing an uncertain future, the Clark County Medical Society wanted to cover its payroll and overhead expenses until it could get back on solid financial footing. Executive Director Denise Selleck knew that physicians could get PPP loans and wondered if they were an option for the nonprofit. Through a national group of association executives, the organization found CRF and applied for a PPP loan.
The PPP loan arrived just in time; Selleck and her board had just been discussing budget cuts in light of having canceled their annual fundraising dinner when she got the word about their PPP loan being approved. The entire board “whooped it up” upon hearing the news.
CRF walked Selleck and her team through every step of the process, from application through disbursement, and plans to apply for loan forgiveness. The organization used the loan to make payroll and pay overhead costs during the pandemic. Today, with a new medical school opening at University of Nevada – Las Vegas, the Society is planning an even bigger presence in the region thanks to the PPP loan.