49. Question: What is the maturity date of a PPP loan? Answer: If a PPP loan received an SBA loan number on or after June 5, 2020, the loan has a five-year maturity. If a PPP loan received an SBA loan number before June 5, 2020, the loan has a two-year maturity, unless the borrower and lender mutually agree to extend the term of the loan to five years. The promissory note for the PPP loan will state the term of the loan.
In the rules it does allow you to speak with your lender to increase your loan term length. This change does not come automatic if your PPP loan was processed before June 5, 2020. It's best if you are planning on paying the PPP back to ask for the increased term.
FAQ Research based learning
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Is the Unemployment grant EIDL advance a duplication of benefits for the Paycheck Protection Program?
PPP Forgiveness Application SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application.
PPP Topic; TIPS FOR SUBMITTING EFFECTIVE COMMENTS ON FEDERAL REGULATIONS. And your list of Paycheck Protection Program rules you might want to voice your opinion over.
Can I us my US Treasury and SBA PPP loan with my SBA EDIL without merging the two loans as it shows in the borrowers form?
EIDL: Do landlords with no employees, not LLC, file 1040, Schedule E, qualify for EIDL loan and advance?
We have completed our Geotechnical soil analysis and have 3D home design plans completed. Now we need...
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