‘It’s such a burden lifted:’ Business owners could be eligible for PPP loan forgiveness

Business owners could be eligible for PPP loan forgiveness

JACKSONVILLE, Fla. — Action News Jax’s Courtney Cole spoke to Kelvin Blue, a Registered Public Account & Tax Resolution Specialist with Centerpoint Tax Services, about what it takes for business owners to be eligible for PPP loan forgiveness.

The Coronavirus Aid, Relief and Economic Security (CARES) Act is the largest and most significant federal emergency aid bill in U.S. history.

It set aside $659 billion dollars for relief for small businesses to be administered by the Small Business Administration (SBA) in the form of the PPP.

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To qualify for the Paycheck Protection Program Forgiveness (up to $10 million), you must have been approved for the loan before Aug. 8.

For more facts and questions about PPP loan forgiveness click on the following link: https://www.sba.gov/document/support-frequently-asked-questions-ppp-loan-forgiveness.