Articles

How Employees Who Don’t Want to Return to Work Impact Your PPP Loan 


June 15, 2020

As contractors begin to open or return to staffing at pre-pandemic levels, they may find employees are resisting coming back to work. According to a recent study, 54% of U.S. employees are worried about exposure to Covid-19 at their job. In addition, with the extra $600 that an employee can collect under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, an employee can collect $1,000 a week or more of unemployment benefits. This may be more than their regular pay, adding another disincentive to returning to the job.

Unfortunately, employees refusing to come back to work can impact the amount of a Payroll Protection Program (“PPP”) loan that is forgiven. To maximize the amount of the loan forgiven, the employer must meet three requirements. Read More >

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