The time the bank disburses the PPP finance. The “covered period” stops on any date selected by debtor that is caused through the cycle (i) inexperienced the big date that is 8 weeks following the go out of spending and (ii) close in the go out that is 24 months as soon as the go steady of expense. PPP financing earned (acquired an SBA funding amounts) just before June 5, 2020 has a required maturity of 2 years. PPP finance earned (was given an SBA money amounts) on or after June 5, 2020 need a required maturity of five years. However, a borrower and financial institution may consent to amend a PPP financing originated prior to June 5, 2020 to reflect a 5-year maturity. No fee for prepayment.