This week, both chambers of Congress passed and President Trump signed into law The Paycheck Protection and Health Care Enhancement Act, which allocates an additional $321 billion for Paycheck Protection Program (PPP) loans and an additional $60 billion for the Economic Injury Disaster Loan program. New applications can be submitted starting on Monday, April 27, 2020 at 10:30am. Any borrower that applied for a PPP loan prior to the issuance of this guidance and repays the loan in full by May 7, 2020 will be deemed by SBA to have made the required certification in good faith
> Read our legal counsel's alert.
Set aside in the $321 billion of additional funds approved for the PPP is $60 billion for small- to medium-sized banks and other financial institutions. The legislation also includes an additional $75 billion for the Public Health and Social Services Emergency Fund.
Additional Resources:
SBA Paycheck Protection Program
April 24 -President Donald J. Trump signed a $484 billion COVID-19 relief package, the fourth passed by Congress, that provides $370 billion for small businesses and replenishes the Paycheck Protection Program. View AAOS Summary
April 22 - The Department of Health and Human Services awarded nearly $165 million to combat the COVID-19 pandemic in rural communities. Read the HHS press release, Check out AAOS Guidance
