; and (3) by adding at the end the following new subsection: (l) Application to certain eligible recipients An eligible recipient that received a covered loan before the date of enactment of this subsection may elect for the covered period applicable to such covered loan to end on the date that is 8 weeks after the date of the origination of such covered loan. . (c) Extension of deferral period Section 7(a)(36)(M) of the Small Business Act ( 15 U.S.C. 636(a)(36)(M) ) is amended— (1) in clause (ii)(II), by striking for a period of not less than 6 months, including payment of principal, interest, and fees, and not more than 1 year. and inserting the following: , including payment of principal, interest, and fees, until the date on which the amount of forgiveness determined under section 1106 of the CARES Act is remitted to the lender. ; (2) in clause (iii), by striking for a period of not less than 6 months, including payment of principal, interest, and fees, and not more than 1 year. and inserting the following: , including payment of principal, interest, and fees, until the date on which the amount of forgiveness determined under section 1106 of the CARES Act is remitted to the lender. ; and (3) by adding at the end the following new clause: (v) Rule of construction If an eligible recipient fails to apply for forgiveness of a covered loan within 10 months after the last day of the covered period defined in section 1106(a) of the CARES Act, such eligible recipient shall make payments of principal, interest, and fees on such covered loan beginning on the day that is not earlier than the date that is 10 months after the last day of such covered period. . (d) Effective date