The PPP and Health Care Enhancement Act-What’s in Them?

The PPP and Health Care Enhancement Act-What’s in Them?


  • What is the Paycheck Protection Program?
  • Find out what the new PPP and HCE Act will fund and how much has been appropriated.
  • Learn more about what banking industry groups are saying about this round of funding.

Good news! President Trump has signed the Paycheck Protection Program and Health Care Enhancement Act (PPP & HCE Act)! This package, worth $484 billion, passed in both the Senate and the House the week of April 20, 2020. Now, Fiducial has highlights on what you need to know about these bills.


Following the passage of the $2.2 trillion CARES Act stimulus package at the end of March, one of the most talked about provisions was the Paycheck Protection Program (PPP). The CARES Act had earmarked $349 billion for PPP in an effort to help small businesses cover their payroll, benefits, utilities, and rent and mortgage payments.

However, it came as no surprise that these loans – forgivable if businesses met certain requirements – ran out very quickly, as small businesses flocked to banks to apply for relief. On paper, $349 billion sounded like a lot of money – but it was “destined to be oversubscribed from the start.”

To no one’s surprise, the public demanded more funding for the PPP. Consequently, this became a major factor in driving the creation of the latest bill.

PPP and HCE Act

What’s in this new package?

The PPP and HCE Act will fund:

  • $310 billion for the SBA’s Paycheck Protection Program
  • $60 billion for the SBA’s economic injury disaster loans and grants, including:

$50 billion for economic injury disaster loans. Each loan can be up to $2 million with interest rates not to exceed 4% and long-term repayment periods of up to 30 years.

○ And, $10 billion for grants of up to $10,000 that do not have to be repaid.

  • Additional funds provided to help the SBA to administer the PPP and HCE programs.
  • $100 billion in emergency supplemental appropriations. Seventy-five billion dollars of this will go to designated hospitals and health care providers and $25 billion for use in ramping up COVID-19 testing.

It’s important to note that banking industry groups have said that the money set aside to “replenish the emergency loan program for small businesses impacted by the coronavirus pandemic is likely already all spoken for.” And, due to the volume of applications for PPP already sent to the Small Business Administration, it is likely that “much, if not all, the new money will go to those already in the queue.”

We will keep you updated as additional details on this bill come to light. Look to Fiducial for news of any upcoming legislation under consideration as well. Have questions about how the PPP and HCE Act may affect you and your business? Call Fiducial at 1-866-FIDUCIAL or make an appointment at one of our office locations. Ready to book an appointment now? Click here. Know someone who might need our services? We love referrals!

For more small business COVID-19 resources, visit Fiducial’s Coronavirus Update Center to find information on SBA loans, tax updates, the Paycheck Protection Program, paid sick and family leave, and more.