Updated Payroll Protection Program FAQs Released: Grace Period Extended to May 18, 2020
The SBA and Treasury updated their FAQs on the Paycheck Protection Program.
The FAQs clarify that any borrower that, together with its affiliates, received PPP loans with an original principal amount of less than $2 million will be deemed to have made the required certification concerning the necessity of the loan request in good faith.
The FAQs clarify for borrowers with loans greater than $2 million that are deemed by SBA to lack the requisite necessity, the borrower may repay the loan without penalty.
The SBA extended the repayment date for the safe harbor to May 18, 2020.
Executive Orders Protecting Workers from Unsafe Working Conditions and Loosening Restrictions on Business Operations
Governor Walz signed Executive Order 20-54 on May 13, 2020 "Protecting Workers from Unsafe Working Conditions and Retaliation During the COVID-19 Peacetime Emergency" and outlines protections for workers including how a worker can protest unsafe working conditions and receive unemployment compensation.
“Pursuant to Minnesota Statutes 2019, section 268.095, any worker who quits their employment because the employer has failed to correct an adverse work condition related to the pandemic which would compel an average, reasonable worker to quit, if the worker has complained to the employer about such adverse work condition and has given the employer a reasonable opportunity to correct such adverse work condition, to no avail, or has been retaliatorily terminated from their employment as a result of exercising the worker rights described in paragraphs 1 through 4 of this Executive Order, shall not lose unemployment insurance benefits eligibility under existing law and Executive Order 20-05. Examples of an adverse work condition include an employer’s failure to develop or implement a COVID-19 Preparedness Plan, as required by applicable Executive Orders, or failure to adequately implement Minnesota OSHA Standards or MDH and CDC Guidelines in the workplace related to COVID-19.”
Governor Walz signed Executive Order 20-56on May 13, 2020 that loosened restrictions on businesses operating in Minnesota and foreshadowed further loosening on June 1, 2020.
If you have employees who need assistance with stress, financial, or familial issues refer them to HealthPartners Employee Assistance Program at 866-326-7194 or text US HEAP and your question to 919-324-5523 or log on to hpeap.com (website password “ptsmn”).