Staffing Firms Eligibility for PPP Loans

By Martin L. Borosko, Esq.

ELIGIBILITY Are staffing firms eligible to participate in the CARES Act SBA PPP program? Yes, provided they meet one of the two eligibility tests. The first test focuses on the number of employees that the potential borrower has – i.e. a staffing firm with 500 or fewer employees is eligible to participate in the PPP program. The definition of employee includes a staffing firm’s part time employees and temporary employees. SBA has not defined part time employee and thus, the presumption is that all part time employees regardless of the duration of their part time employment count in determining eligibility. Read more

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FAQ #31:   THE PPP PANDORA’S BOX 

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed by President Trump. The CARES Act created a new Small Business Administration (“SBA”) loan program kn

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