Photo of Suzanne M. Johnson

Suzanne M. Johnson is a senior counsel in the Corporate Finance Practice Group of Dykema. Her practice is focused on automotive, information technology, and mergers and acquisitions. Ms. Johnson’s current practice is dedicated to a large automaker, counseling on commercial transactions and strategic relationships, cloud services and connected vehicle technologies. She also provides legal support for the automaker’s world-wide service arrangements.

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