April 6, 2020 - NFP CARES Act Webinar CARES Act Webinar - NFP - Final | Page 8

PAYCHECK PROTECTION PROGRAM (PPP)
LOAN DEFERMENT/FORGIVENESS
The Cares Act states that a presumption of
hardship will exist if the business applies for
the SBA or PPP loan.
The Act requires lenders to provide complete
payment deferment relief for impacted
borrowers with covered loans for 6 months
following the date of disbursement of the loan,
although interest will accrue
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