April 13, 2020: Written 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.