General Inquiries

PPP - minimum staffing level?

  • 1.  PPP - minimum staffing level?

    Posted 05-21-2020 14:16
    Our company owner was told by a management consultant that the PPP program requires us to keep our staffing level at 75% of pre-Coronavirus levels. I understand that our staffing level will affect our loan forgiveness proportionately, but have never seen the 75% requirement anywhere.

    Do any of you know where this came from and if it is true? We have tried to avoid reductions in force but at this point we don't have anyplace else to put them and are facing some layoffs.

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    Michele McGrath
    Controller
    Silverline Construction
    Gardena CA
    (424) 344-7908
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