Loan forgiveness application assistance available for small businesses
Published 12:59 pm Monday, June 29, 2020
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JOHNSON CITY — The Tennessee Small Business Development Center (TSBDC) at East Tennessee State University has announced a partnership with Blackburn, Childers and Steagall, CPAs to provide free assistance with loan forgiveness applications for the Payroll Protection Program (PPP).
Established by the CARES Act, the PPP provides assistance for small businesses to pay up to 2.5 months of payroll costs and benefits. Funds can also be used to pay interest on mortgages, rent and utilities. The program is implemented by the U.S. Small Business Administration (SBA) with support from the Department of the Treasury.
This local partnership was created through a unique funding opportunity from the SBA. Supplemental grant funding through the CARES Act allows the TSBDC at ETSU to provide business assistance to those impacted by the COVID-19 pandemic.
“This is truly a stressful time for business owners and our goal is to help provide peace of mind that these forgiveness applications are being prepared by qualified experts,” said Mark Bays, director for the TSBDC at ETSU. “I am truly excited for this opportunity and partnership to assist COVID-19 impacted businesses in our service area.”
All current TSBDC at ETSU clients that have received a PPP loan are eligible for free assistance from Blackburn, Childers and Steagall, CPAs. Any business in the TSBDC at ETSU service region may register as a client at no charge to become eligible for loan forgiveness application assistance.
“BCS sees this as a great opportunity to help small businesses in our region that may not have the resources internally or externally to fully take advantage of the loan forgiveness opportunities provided through the Paycheck Protection Program,” said Tommy Greer, CPA at BCS. “We can’t think of a better partner than the Tennessee Small Business Development Center at East Tennessee State University to have a positive impact on as many small businesses as possible in our region. We truly believe when one small business wins in our area, we all win.”
For more information or to seek assistance, contact Mark Bays at 423-439-8505 or tshipley@tsbdc.org.
