Demystifying the CARES Act Webinar - April 3, 2020 CARES Act Webinar – BD 4.3.2020 | Page 17

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:
• not less than 6 months (this includes principal,
interest, and fees).
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