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Asked a question 3 years ago

-Small Business Retention Loans (Paycheck Protection Program and Loan Forgiveness) - Is this the $350B funding referred to in the Stimulus bill? Do all employees on payroll need to continue to work or do they need to be on furlough, I believe they need to be working even if working from home, please confirm. Does this cover contractors on payroll too, I believe it does, please confirm. Does this cover contractors and employees on payroll only up to $100K annual compensation? So are certain contractors and employees amounts over $100K still included in the loan amount, but amounts over $100K are just not eligible for forgiveness? I saw the amount forgiven would be reduced in proportion to any reduction in employees retained compared to the prior year and to the reduction in pay of any employee beyond 25% of her prior year compensation - would you please explain/clarify how this works?

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