Paycheck Protection Program: Loan Forgiveness Application ...
• includes all applicable reductions due to decreases in the number of full-time equivalent employees and salary/hourly wage reductions; • includes payroll costs equal to at least 60% of the forgiveness amount; • for any owner-employee (with an ownership stake of 5% or more) or self-employed individual/general partner,
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business.chase.comFull-Time Equivalency (FTE) FTE is a numerical calculation for determining . employee headcount. When requesting Forgiveness, the Borrower may elect to use 1.0 for employees who work 40 hours or more per week and 0.5 for employees who work less than 40 hours per week. The FTE calculation may be different than simply counting the number of ...