SBA / Treasury FAQ – 56. How does the 500-employee limit for First Draw PPP Loans and the 300-employee limit for Second Draw PPP Loans apply to a public broadcasting station if a college...operates or holds the license for the station...?

Compliance > CARES Act
Q:  How does the 500-employee limit for First Draw PPP Loans and the 300-employee limit for Second Draw PPP Loans apply to a public broadcasting station if a college or university operates or holds the license for the station and the station is not a separate legal entity?
 
A:   Subsection B.1.g.vi of the consolidated interim final rule implementing updates to the PPP, 86 FR 3692 (Jan. 14, 2021), and subsection c.4 of the interim final rule for Second Draw PPP Loans, 86 FR 3712 (Jan. 14. 2021), apply the 500- and 300-employee limits, respectively, based on the number of employees “per location” of the public broadcasting station. This limit on the number of employees per location applies to the public broadcasting station itself and does not include other employees of a college or university that operates or holds the license for the station.
 
 
This Q&A was based on information contained from the Treasury Department’s January 29, 2021, version of “Paycheck Protection Program Loans, Frequently Asked Questions,” which has been updated from time to time.  This CARES Act / SBA / PPP related issuance may be found here:  https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf
 

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