Legal Blog

The Latest Stimulus Action: President Signs Expansion Of Paycheck Protection Program

From the Offit Kurman CV-19 Business Response Team

hands of businessman opening envelope with paycheckOn Friday, the PAYCHECK PROTECTION PROGRAM AND HEALTH CARE ENHANCEMENT ACT was signed by the President and became law. Here is what the latest Act does:

  • Adds $210B to the Paycheck Protection Loan Program. The original $349B for that program was exhausted earlier this month and the additional funds are likely to be used up soon too.
  • Adds $60B to the Economic Injury Disaster Loan program.
  • Makes agricultural enterprises with not more than 500 employees eligible for the Economic Injury Disaster Loan program and emergency grants.
  • Expands by $30B the SBA loan guaranty program for “small” banks and for credit unions.
  • Devotes $75B to a Public Health and Social Services Emergency Fund that is designed to reimburse eligible health care providers for certain health care related expenses and lost revenue attributable to the coronavirus; these funds are also available for the construction of temporary structures.
  • Devotes an additional $25B to the Public Health and Social Services Emergency Fund for expenses to research, develop, validate, manufacture, purchase, administer and expand testing capacity for CV-19 testing, including expenses of manufacturing personal protective equipment.

To contact the Offit Kurman CV-19 Business Response Team, email Glenn Solomon at or 443-738-1522.



Picture of Glenn Solomon wear a black suit, white shirt, and a red | 443-738-1522

Glenn D. Solomon is a principal at Offit Kurman and has provided counsel to businesses and business owners for more than twenty-five years. He has extensive experience in the purchase and sale of businesses, structuring ownership agreements, and advising companies in financial distress.









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