What Is The Maturity Date of a PPP Loan? | 5 Year PPP Loan Change Is NOT Automatic | PPP FAQ

Описание: The maturity date of the PPP loan to 5 years in NOT automatic. We discuss what you need to do to change your PPP loan from 2 years to 5 years.

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Maturity Date for PPP Loans

The maximum maturity for a PPP loan is 10 years. However, SBA set the maturity for a PPP loan at two years in the First Interim Final Rule.

The June 11 Rule alters the minimum maturity to five years for loans issued after June 5, 2020.

According to an SBA press release, borrowers with loans issued prior to June 5, 2020 may extend the maturity date of a PPP loan if the lender agrees.