President Trump signed H.R.266, the Paycheck Protection Program and Health Care Enhancement Act (the “PPP/HCE Act”) this afternoon following passage of the bill by both houses of Congress. The PPP/HCE Act provides additional funding for small business loan and grant programs administered by the Small Business Administration (“SBA”) in response to the COVID-19 pandemic. Additionally, the SBA released new guidance on the eligibility of various businesses for PPP loans.
The PPP/HCE Act also includes additional funding for hospitals and coronavirus testing, an overview of which can be found here.
The PPP/HCE Act modifies and increases funding for the Paycheck Protection Program (“PPP”) and the SBA Economic Injury Disaster Loan (“EIDL”) program, detailed below.
Read the full article here.
Additional Questions? Contact a member of the Finance or Corporate Practice Groups at Haynes Boone.
