Originally Posted by
CAirBear
Not 100% sure, but they might only be able to furlough 10% of workforce if they take these loans? It’s hard to get a clear answer. Hopefully someone else can chime in.
From the Q&A on the Treasury website:
PROGRAM REQUIREMENTS AND RESTRICTIONS
6. Are there any requirements placed on borrowers? To receive a loan, a borrower must agree that: • It will maintain employment levels as of March 24, 2020 to the extent practicable, and in any case not reduce its employment levels by more than 10 percent from the levels on such date, at least until September 30, 2020.
So the workforce reduction restriction seems to expire the same date as for the grants.