Dykema Gossett PLLC

Dykema Labor & Employment Law Blog

Posts by Alexis J. Schostak

Contributors

Photo of Dykema Labor & Employment Law Blog Alexis J. Schostak
Member
aschostak@dykema.com
248-203-0598
View Bio

Showing 1 post by Alexis J. Schostak.

Paycheck Protection Program Loan Forgiveness Not Impacted by Employees Who Won’t Return to Work, If Properly Documented

As borrowers use their loan proceeds from the Paycheck Protection Program (PPP) to continue or restore payroll and call back laid-off employees, they may encounter reluctance or refusal by employees to return to work, which could impede borrower’s ability to obtain full forgiveness on their PPP loan. Borrowers looking toward full forgiveness of the loan amount must maintain a staffing level[1] during the eight-week period following the funding of the loan at the level maintained during a comparative period preceding the loan, as described in Section 1106(d)(2) of the CARES Act.[2] Read More ›