6.4.2020 Update - T he Paycheck Protection Program (PPP) Flexibility Act, which makes major changes to PPP loan terms so they work better for franchise businesses, was passed in the House and Senate and is on its way to the President!. Learn how the health care law affects you at Healthcare.gov. What is an FTE? Thank you for visiting our PPP Loan Forgiveness Calculator! But some part-time employees work different hours, and they must be included in the calculation of the number of full-time employees. It took a while to get here, but the SBA has provided some additional PPP guidance for seasonal businesses to calculate the maximum loan amount for seasonal employers.. How Does the New Guidance Affect the Calculation of the Maximum Loan Amount? • FTEs are based on a 40 hour workweek (as set forth in the PPP Loan Forgiveness Application) A full-time employee is an individual who works an average of at least 40 hours per week. See your health insurance choices. Complete all … It is sometimes useful to know how many full-time and part-time employees are working in a business. Reminder: SBA.com® is not a lender. Please do not submit any documents to SBA.com®.. www.postschell.com Introduction • Post & Schell, PC’s FTE Calculator Tool is comprised of 3 “types” of excel tabs: FTE Introduction Loan Receipt Date Tab (Sunday through Saturday) Employee Worksheet • Highlighted cells on worksheets are to be completed by you. Now that you’ve been approved for your loan under the Paycheck Protection Program (PPP) and funds are being disbursed, it is now time to transition from getting your PPP loan amount to maximizing PPP loan forgiveness. This article was updated June 5, 2020 to reflect changes in the Paycheck Protection Program Flexibility Act of 2020.. The U.S. Small Business Administration (“SBA”) has released an updated PPP Loan Forgiveness Application (and related instructions) and a shorter EZ Form application for certain qualified borrowers and related instructions with respect to the Paycheck Protection Program (“PPP”). Guidance has not yet been provided with respect to defining an FTE. The official site of the Health Insurance Marketplace. • The CARES Act Sections 1102 and 1106 do not define FTEs. This topic and related workbook have been updated in a current post here as of 5/26/2020.. By Tommy Greer. Once you have completed the workbook, you will need to download and complete the U.S. Small Business Administration Form 3508 with the information generated, and submitted to your PPP lender. The term full-time equivalent, or FTE, is used in many contexts in employment situations.

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