COVID-19 related loans

[Cynchbeast]

I am unclear when repayments must begin for a new COVID-19 related loan.  In other discussions:

Per EBECatty said, the Act says '"In the case of a qualified individual with an outstanding loan (on or after the date of the enactment of this ACT)" which SUGGESTS that this applies to even new loans (since they would be outstanding after 03/27/20).

• Is this specifically addressed, or just one person's interpretation?
• When writing a new loan, when do we make the first payment due -  Same as normal, 1 year later, or perhaps some other date (at participant's choosing?) up to a year later?

[Bird]

I believe it applies to new loans and would write them as usual - payments due as normal as far as setting it up but with the understanding that those payments may be deferred and the whole thing reamortized later.