Skip to main content
Asked a question 2 years ago

If my staff are currently laid off and I apply for the CARES Act loan to cover their wages that assumes I would be hiring them back. What if they don’t want to come back? They might be making more on unemployment than working here. What happens to the forgiveness of my loan then? How do we apply for 8 weeks of wages, etc. if our state is closed to non-essential businesses? Are we able to keep the loan money and hire staff back when the state opens again? What are the restrictions to receiving the loan forgiveness? I’ve heard we have to keep staff employed until a particular week. Is there a provision if the employee is fired due to cause? Does this give the staff a free pass on performance because we want to get the loan forgiveness? If I apply for the CARES loan to cover the wages I did not lay off, rent and utilities, am I still able to not pay the payroll taxes and get credit on health insurance payments? Essentially, do the terms of the EFMLA and CARES acts work concurrently? Please explain more about the EFLMA act and how it applies to us if we already have staff laid off. Are all laid off staff due to Covid-19 exempt from EFLMA?

Where am I?

In Multifunding SBA CoronaVirus Support you can ask and answer questions and share your experience with others!

No answers yet.