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do not submit a loan forgiveness application to Bank within 10 months after the end of your loan forgiveness covered period, you must begin paying principal and interest after that period, which in any event must be no later than October 31, 2021. Payment Schedule. At the end of the deferment period, your note will be repayable as follows: [instructions to bank: select repayment schedule]09/10/2020 · In summary, as a PPP borrower, you will not be required to begin repayment of loans until you are either granted partial forgiveness or 10 months plus 24 weeks from your loan date passes, whatever comes first. Of course, if full forgiveness is granted on the PPP loan, no repayment will be required, including on the accrued ‘‘loan forgiveness covered period’’ is the period beginning on the date the lender disburses the PPP loan and ending on any date selected by the borrower that occurs during the period (i) beginning on the date that is 8 wee