Job Retained definition
Job Retained means a permanent, full-time employee position that is in existence as of the date of the loan application. The Applicant commits in writing to retain this position until maturity of the loan.
Job Retained means, as represented by a qualified active low-income community business or impact qualified active low-income community business located within this State, a position filled by an employee of the qualified active low-income community business or impact qualified active low-income community business, as applicable, if the employee meets the requirements of subparagraphs (1), (2) and (3) of paragraph (a), the employee was hired by the
Job Retained means those existing filled positions that are funded by the American Recovery and Reinvestment Act of 2009 (Recovery Act). This definition covers only positions established in the United States and outlying areas (see definition in FAR 2.101). The term does not include indirect jobs or induced jobs. The definition applies to Prime Contractor positions and First-tier Subcontractor positions where the Subcontract is $25,000 or more. The number shall be expressed as “full-time equivalent” (FTE), calculated quarterly as all hours worked and funded by the Recovery Act divided by the total number of hours in a full-time schedule, as defined by the Contractor (or First-tier Subcontractor). For instance, two full-time employees and one part-time employee working half days would be reported as 2.5 FTE in each calendar quarter.