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LETS GET DOWN TO BUSINESS.

Question :
We’ve got more than 50 staff, but less than 50 are full-time. Are we eligible for the loan?

Question submitted 01/05/20 @ 01:06pm
Industry: COVID-19 Funding & Support
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  • This is ‘specific’ criteria question that needs to be worked through. I would say ‘equivalent 50 full time employees’ – if in doubt, keep an eye on these pages https://covid19.govt.nz/businesses-and-employees/businesses-and-services/

    I expect this is a case of poor wording in one part of the Govt’s press release. The criteria refers to 50 or fewer full-time equivalent employees (‘FTEs’) but the entitlement details refer to an equivalent full-time employee. On the basis this also means FTE then, for example, 5 people working at 80% of full-time hours are each an 0.8 FTE. Combined, they equate to 4 FTEs for the purpose of calculating the amount of the loan entitlement.

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