Paycheck Protection Program (PPP) Enhancement Act
(As of April 23, 2020)
Paycheck Protection Program (PPP) and Health Care Enhancement Act
On April 23rd – Congress signed the $484 billion PPP and Health Care Enhancement Act, which President Trump is expected to sign later today or tomorrow April 24th. This additional funding is for immediate coronavirus relief to individuals, businesses, non-profits and the Health Care industry throughout the U.S. This adds to the $2 trillion that was signed into law by President Trump nearly (4) weeks ago on March 27th.
• $320 billion of additional PPP Funding
• $10 billion of additional EIDL Grants
• $50 billion of additional EIDL Loans
Our team highly encourages ALL small businesses that did not receive approval during the first tranche of funding, to make sure to apply as soon as local banks begin accepting applications again. If you have your application and required supporting documents prepared ahead of time, it may not hurt to ask your local bank if they are able to accept your application now.