- Fixed interest rate of just one% per year
- Five-year title
- Unsecured and no personal guaranties requisite
- Subject to important SBA promissory notice terms and conditions
In case your PPP mortgage disbursement go out are Just before , your loan label was 2 yrs, if you don’t and you may TD Financial mutually commit to alter the identity so you’re able to five years.
How to modify my PPP mortgage? People who want to tailor its PPP financing identity out-of 2 decades in order to five years (Bullet step 1 consumers) need certainly to first submit an application for and found a great forgiveness choice regarding SBA. Immediately after an effective forgiveness choice has been gotten, consumers is get in touch with its PPP processor chip to change the remaining harmony of one’s PPP financing.
