The US Small Business Administration released additional guidance on September 30, 2020 clarifying the deferral period for payments on all Payroll Protection Program (PPP) loans.  The original promissory note indicated a six-month deferral for payments on the principal, interest and fees on all PPP loans, but the Flexibility Act of 2020 extended the deferral period to either the date the SBA remits the borrowers loan forgiveness amount to the lender or if the borrower does no apply for loan forgiveness, 10 months after the end of the borrowers loan forgiveness period.   All lenders are required to notify their borrowers that this extension will automatically apply to their loans and there will be no further adjustment to the original promissory note.