COVID-19 Termed Employees Report for PPP Loan

This article provides an overview of and instructions on how to download the new Termed Employees report that can be used to obtain termination data, which is required in applications for the SBA's Paycheck Protection Program.

OVERVIEW

Congress recently passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in an effort to provide immediate financial relief to businesses and individuals. In response, the Small Business Administration (SBA) has allowed businesses to apply for a one-time loan, called the Paycheck Protection Program (PPP). The loan application requests you to report on the number of terminations your company has had over a certain period of time. 

Namely has created a new report to assist you with this portion of the application process. This report will allow you to view all employees who have been terminated over a particular date range and can be used to supplement your PPP loan application.
 

STAY UP TO DATE:

Always stay up to date with COVID-19: Consolidated Appropriations Act Updates for 2021.

 

INSTRUCTIONS FOR RUNNING THE REPORT

In Namely Payroll, go to Reports > Date Range, and select the date range that would apply for your organization’s loan application. Then, download the SBA Loan - Termed Employees report, which is available under both Microsoft Excel Reports and CSV Reports, using the date range that applies to your organization.