Paycheck Protection Program and Healthcare Enhancement Act Signed into Law
On April 24th, President Trump signed into law the Paycheck Protection Program and Healthcare Enhancement Act, which replenishes the original Paycheck Protection Program (PPP) funds appropriated under the CARES Act with an additional $321 billion. The U.S. Department of Treasury and the Small Business Association have also issued new rules/clarifications on who is eligible for these funds.
Please refer to these two overviews provided by the following law firms:
Enactment of the Paycheck Protection Program AND Healthcare Enhancement Act and Further Interpretive Guidance on The Economic Uncertainty Certification And PPP EligibilityApril 24, 2020By: Nirav Bhatt & Bijal Vira; SheppardMullin
White & Williams, LLP
Private Equity and Other Businesses Need Not Apply: SBA Issues Fourth Paycheck Protection Program Interim Final RuleApril 28, 2020By: Ryan J. Udell and Adam J. Chelminiak; White & Williams, LLP