PPP Safe Harbor Repayment Date Extended to May 14th

By and
May 6, 2020

In FAQ #43, Treasury announced it has extended the PPP loan repayment safe harbor to May 14, 2020 (from the original May 7, 2020 deadline). This extension is presumably in recognition of the fact that additional guidance is necessary regarding the borrower’s certification that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” FAQ #43 states the SBA intends to issue additional guidance prior to May 14th.

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