Paycheck Protection Program (PPP) Enhancement Act

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.

Key Enhancements

•   $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.

The California Accounting team has the expertise your business needs
to successfully apply for both PPP and EIDL loan programs.

California Accounting is also capable of preparing PPP Forgiveness Reporting
which will provide detailed information that may be used to validate eligibility
for PPP loan forgiveness, including each employee who was on the
payroll during the period and what was paid to them.

Our CPAs, tax professionals and accountants can assist you with all the
required documentation and calculations for these applications.

Please reach out at 916.721.4357 or email us at Info@CaliforniaAccounting.com

Check out our COVID-19 Resource Center for Important Updates: Learn More Here.