Sec. 201. Periods for loan forgiveness and application submission
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Section 1106 of the CARES Act ( 15 U.S.C. 9005 ) is amended— in subsection (a), by striking paragraph
(3)and inserting the following: the term covered period means the period beginning on the date of the origination of a covered loan and ending on a date selected by the eligible recipient of the covered loan that— is not earlier than the date that is 8 weeks after such date of origination; and is not later than the date that is 24 weeks after such date of origination; ; in subsection (d), by striking December 31, 2020 each place it appears and inserting September 30, 2021 ; and by striking subsection
(l)and inserting the following: An eligible recipient may apply for forgiveness under this section with respect to a covered loan any time after the covered period applicable to the covered loan ends if— proceeds from the covered loan have been spent; and the eligible recipient is in compliance with subsections
(e)and (f). . The amendments made by subsection
(a)shall be effective as if included in the CARES Act ( Public Law 116–136 ) and shall apply to any loan made pursuant to section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) or section 1109 of the CARES Act ( 15 U.S.C. 9008 ).
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Sec. 201
Periods for loan forgiveness and application submission
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