On May 18, 2020, the Small Business Administration (SBA) released a new interim final rule addressing the confusion raised by the SBA’s FAQ 44 on how PPP applicants are to count employees of foreign and U.S. affiliates for purposes of determining eligibility against the 500 or fewer employee size standard provided for in the CARES Act.
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The SBA Changes the PPP Eligibility Ground Rules – Providing New Calculation of Employee Count for Affiliates With Questions Remaining on Applicable Headcount for Applicants
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