PPP Loan Forgiveness

Taxwizards22 Jul, 2020Business

The lender has 60 days from receipt of the completed application to issue a decision to SBA. If only a portion of the loan is forgiven, or if the forgiveness request is denied, any remaining balance due on the loan must be repaid by the borrower on or before the two-year maturity of the loan (SBA-2020-0032, III, 2 & 3).