The PPP loan forgiveness process is going to be a cluster

Our firm helped one of the big banks process these. To be fair, the protocol was process the loans and we'll figure it all out later. What were they supposed to do, people needed the money

As of now, our bank won't allow us to submit for Loan forgiveness simply because they know that the rules will change 100x before it's over.
Similar to how it was to originally get the PPP money.

Use the money for payroll , employee healthcare insurance and utilities...you should be solid.

That’s what we did. Five pay periods. Two group health insurance payments. Money gone and loan forgiven.

But the amount of payroll forgiveness is still capped at $15,385 per employee - - whether over 8 weeks or 24 weeks.

Regardless, even if some of it's not forgiven, it's at 1% for 5 years.

There will be exceptions like my company. We were probably over staffed and our sales still have not recovered (we're doing about 40% of our 2019 sales). We found ourselves doing everything we could to hold onto good employees even when the work didn't justify it. Had 2 occasions last year where we were hiring 1 person for a job and really liked 2 candidates so we just hired them both.

Our issue will be we cannot justify bringing back 100% of our staff due to the decreased sales. At most, we are looking at 87% of prior staff. We are currently sitting at 80% and have everyone working 34-37 hours a week and just paying them 40.

It's a little more difficult in a blue collar environment. There is only so much the shop hand in Shipping & Receiving can do outside of shipping & Receiving. The floor can only be swept so many times, inventory can only be reorganized so many times....

Plus, it kills morale when you have skilled workers constantly doing menial tasks, just to work the clock.