Webinar: How Full Time Equivalents (FTEs) Impact PPP Loan Forgiveness
November 2, 2020
The Paycheck Protection Program (PPP) was designed to help small businesses maintain their workforce. But what if the PPP funds weren’t enough? How can a reduction in your full-time equivalent employees cause a reduction in the amount of loan forgiveness you receive?
Aprio’s expert panelists answer these questions as they break down the complexities of FTEs and their impact on the forgiveness of your PPP loan.
In this webinar, we cover:
- How to calculate FTEs
- Safe harbors
- Reduction exceptions
- Impact on loan forgiveness
- Documentation requirements
Aprio’s PPP loan expert panelists include:
- Justin Elanjian, Partner, Assurance Services
- Tommy Lee, Partner-in-Charge, Retail, Franchise & Hospitality
Contact an Aprio Advisor for PPP loan forgiveness support or reach out to Aprio’s PPP loan forgiveness team.
Disclaimer for services provided relative to SBA programs and the CARES Act
Aprio’s goal is to provide the most up to date information, along with our insights and current understanding of these programs and regulations to help you navigate your business response to COVID-19.
The rules regarding SBA programs are constantly being refined and clarified by the SBA and other agencies In certain instances, the guidance being provided by the agencies and/or the financial institutions is in direct conflict with other competing guidance, regulations and/or existing laws.
Due to the evolving nature of the situation and the lack of final published rules, Aprio cannot guarantee that additional changes or updates won’t be needed or forthcoming and the original advice given by Aprio may be affected by the evolving nature of the situation.
You need to evaluate and draw your own conclusions and determine your Company’s best approach relative to participation within these programs based on your Company’s specific circumstances, cash flow forecast and business strategy.
In situations where resources are provided by third parties, those services should be covered under a separate agreement directly with that service provider. Aprio is not responsible for the actions of any other third party.
Aprio encourages you to contact your legal counsel to address the legal implications of the impact of the CARES Act and specifically your participation in any of the SBA programs.
About the Author
Justin Elanjian, CPA, is the Partner-in-Charge of Aprio’s Paycheck Protection Program (PPP) & Employee Retention Credit (ERC) Services. As a national PPP expert, prominent speaker and strategic business advisor, Justin helps both lenders and borrowers navigate the complexities of the PPP. He also helps his clients realize benefits from other stimulus package programs, such as the ERC, and is committed to strengthening his clients’ balance sheets and helping them achieve what’s next. Justin also leads a team of more than 50 professionals who share his passion for helping businesses maximize the federal COVID relief programs.