500 Employee Eligibility

Do I count both full-time and part-time employees to determine if I am under the 500 employee maximum threshold?

For the purposes of loan eligibility, yes. For the purposes of loan forgiveness, no. The CARES Act defines the term employee to include “individuals employed on a full-time, part-time, or other basis.”

By contrast, for purposes of loan forgiveness, the CARES Act uses the standard of “full time equivalent employees” to determine the extent to which the loan forgiveness amount will be reduced in the event of workforce reductions.