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We Accepted Our PPP Funds, So What Now? An Updated Guide to Loan Forgiveness

FTE decrease Exemptions: Any decrease as a result of the following will perhaps not lessen the debtor’s loan forgiveness: 1) a debtor that laid off a member of staff agreed to rehire the exact same worker for the exact same salary/wages and exact same wide range of hours, however the worker declined the offer (the debtor will need to have made the offer in good faith plus in writing and the worker’s rejection of the offer needs to be documented by the debtor while the debtor must notify the relevant state jobless workplace of these worker’s refused offer of employment within thirty days of these worker’s rejection of this offer), 2) a worker ended up being fired for cause or voluntarily resigned through the Covered Period (or alternate Payroll Covered Period), or 3) a member of staff voluntarily asked for and received a decrease in his / her hours.