July 23, 2020
If it takes me 12 weeks to expend all my loan funds, do I have to measure my FTEs over 24 weeks? Or can I match the FTE calculations against the time it takes to use all the funds?
Posted by Armanino Financial Advisory Team
The average FTE calculation will apply to the entire 24-week Covered Period, unless you file your forgiveness application before the end of the 24 weeks. This is a complicated answer, and more guidance may be forthcoming.