“Maximizing Forgiveness” Part II: Calculating Full Time Equivalency

May 27, 2020 HoganTaylor

Maximizing Forgiveness Part II

UPDATE: On June 5, 2020 the president signed into law the Paycheck Protection Flexibility Act (Flex Act). The Flex Act makes significant changes to the Paycheck Protection Program (PPP), giving borrowers more time to use the funds received, more time to repay amounts not forgiven, and lower limits on how the funds are required to be spent.

Click here to read our summary of the key points of the Flex Act.

Join us for Part II of "Maximizing Forgiveness," the second in a 5-part series of webinars to address five key areas of the Loan Forgiveness Application and Instructions (LFA) under the Paycheck Protection Program (PPP).

Part II of our “Maximizing Forgiveness” webinar series is an in-depth look at the concept of full time equivalency within the PPP loan forgiveness process.

In this program we'll cover the following objectives:

  • Introduce the concept of Full Time Equivalency
  • Highlight Places in the PPP Forgiveness Application that Require FTE Calculations
  • In-Depth Look at Mechanics of the FTE Calculations
  • Other Considerations

The presenter for this half hour webinar is Clay Glasgow, HoganTaylor Advisory Partner._

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About the "Maximizing Forgiveness" Webinar Series

Each program in our "Maximizing Forgiveness" webinar series addresses a major area of the PPP Loan Forgiveness process. By dividing the subject matter into separate sessions, we will be able cover each area in appropriate detail, allow attendees to attend those sessions of most interest to them, and limit the content of each session to a digestible amount of information.

Below is a list of upcoming sessions and its projected air date:

More information about the additional programs in this series will be publicized as it becomes available. To receive invitations to these programs via email, please subscribe to our COVID-19 thought leadership.

How HoganTaylor Can Help

HoganTaylor has assembled a team to monitor developments in financial assistance available to businesses hurt by the COVID-19 pandemic. We have been working to understand the legislation and guidance being issued to support the various programs available to affected businesses so that we can provide relevant and timely advice to our clients. As information becomes available, we will continue to recommend specific actions to take to effectively access these programs.

If you need assistance in evaluating your company’s PPP loan certifications or in drafting documentation to support the evaluation and conclusions surrounding your certifications, please contact a HoganTaylor advisor at SBALoans@hogantaylor.com.

INFORMATIONAL PURPOSE ONLY. This content is for informational purposes only. This content does not constitute professional advice and should not be relied upon by you or any third party, including to operate or promote your business, secure financing or capital in any form, obtain any regulatory or governmental approvals, or otherwise be used in connection with procuring services or other benefits from any entity. Before making any decision or taking any action, you should consult with professional advisors.

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