SBA Clarifies Deferral Period for PPP Loan Payments
The Small Business Administration has released guidance clarifying that lenders must recognize the previously established extended deferral period for payments on the principal, interest and fees on all Paycheck Protection Program loans, even if the executed promissory note indicates only a six-month deferral.
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** This information is provided for general educational purposes only. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.