FAQ #40 Helps Restaurants with
Rehiring and PPP Loan Forgiveness

As regulators continue to evaluate the requirements for loan forgiveness of the Paycheck Protection Program (PPP), there have been some wins for restauranteurs. On May 5, 2020, the U.S. Department of Treasury (Treasury) provided updated information via their Frequently Asked Questions (FAQ) document to assist those experiencing difficulty in getting furloughed or laid-off employees to return to work.

As noted in FAQ #40, Treasury will not reduce a borrower's forgiveness due to an unfilled position as a result of a former employee declining re-employment. However, restaurateurs must be prudent in obtaining written documentation of the rehire employment offer and document if the offer was declined. For further guidance on this matter and how it impacts your full-time equivalent employee (FTEE) calculation, visit us online.

GBQ Webinar:
PPP Updates, Myths
and Scrutiny 

On May 6th, members of our COVID-19 response team provided continued guidance on several PPP loan matters, including your responsibility and risk as a recipient. We're pleased to provide you with access to the webinar recording.

Going Concern Assessments Amid COVID-19 

Is your company struggling during the ongoing COVID-19 pandemic? You are not alone. Learn how to evaluate your company’s long-term viability and, if substantial doubts exist, how it will impact your financial reporting.

Maximizing PPP
Debt Forgiveness FAQs

Whether you submitted your PPP application or have been approved, you should be developing a plan to spend the funds in a way that maximizes debt forgiveness. To assist you in these efforts, we're pleased to share answers to these FAQs.

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