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jlaurend | 5 years ago

The legislation being enacted's main goal is to keep people employed. The PPP (payment protection plan) is directed at small businesses (< 500 employees) and can be forgiven if it's used toward payroll, rent, etc. In order for the loan to be forgiven, in the 8 weeks following taking the loan out, your employee headcount "cannot decline from average monthly levels during 2019 or during the past 12 months" [1]

Now, the larger company / industry bailouts -- those seem less well-defined. I haven't seen the latest on those but I'm sure the government would _like_ to tie them to employment as much as possible but we'll have to wait to see.

[1] https://smartasset.com/financial-advisor/paycheck-protection...

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