SBA Extends PPP Repayment DateMay 14, 2020
The Treasury Department and the SBA released FAQ #47 extending the time to repay a PPP loan from May 14, 2020 to May 18, 2020. Borrowers with loan amounts in excess of $2 million and who repay PPP loans in full by May 18 will be deemed by SBA to have made the required certification concerning the necessity of the loan request in good faith. The stated purpose of the extension is to give borrowers an opportunity to review and consider FAQ #46. Additional information on FAQ #46 can be found here.
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