April 24, 2020
The Paycheck Protection Program and Health Care Enhancement Act: Additional Funding Relief for Small Businesses and Nonprofit Organizations Impacted by COVID-19
This update provides an overview of the PPP and EIDL programs, including the expansion of funding.
On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act (PPP & HCE Act) was signed into law. The PPP & HCE Act increases the prior appropriations for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL), and includes targeted funding for hospitals and health care providers and for COVID-19 testing. These provisions supplement the emergency assistance implemented last month in the CARES Act, created to provide relief for individuals, families, businesses, and nonprofit organizations affected by the novel coronavirus pandemic. This update provides an overview of the PPP and EIDL programs, including the expansion of funding.
