July 23, 2020
When do we need to choose between an eight-week or 24-week period?
Posted by Armanino Financial Advisory Team
There is no rush to make this decision. Borrowers have 10 months after the last day of the loan Covered Period to submit the application for forgiveness, and only on the application itself do they need to declare their choice. Banks do not require any advance notice or approval of this election.