- Repaired interest rate of 1% per year
- Five-year identity
- Unsecured and no individual guaranties needed
- Susceptible to practical SBA promissory mention words
If the PPP financing disbursement day are Before , your loan title try couple of years, unless you and you may TD Lender collectively commit to change the term so you can 5 years.
How to personalize my personal PPP financing? People who would like to tailor its PPP financing identity away from dos decades in order to five years (Bullet 1 individuals) must earliest sign up for and you may discovered a great forgiveness choice throughout the SBA. Immediately following a great forgiveness decision might have been received, borrowers would be to get in touch with its PPP chip to change the remaining harmony of one’s PPP financing. (more…)
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