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Whether or not you have accurately spent your Payment Protection Program loan funds will determine if your loan qualifies for partial or full forgiveness. As a small business owner, you are trying to figure out exactly how you can get your entire amount forgiven. We’ve come up with some tips and steps for you to take to seek forgiveness for your PPP loan.

Use the Funds for Eligible Expenses

Have you been tracking your spend? Your PPP loan can only be forgiven in its entirety if you spend the funds on eligible expenses. Eligible expenses include: payroll, utilities, rent and mortgage expenses, commissions, employee benefits etc. Eligible expenses are those that incurred after the first payment was dispersed by your lender. 75% of the funds must have been spent on payroll cost. While the remaining 25% can be spent on non-payroll costs such as; interest on mortgages, rent and utilities dated before February 15, 2020. Payments to independent contractors are not included in payroll costs.

Documentation is Key

Having your documentation is crucial to seeking forgiveness for your PPP loan. Your lender might have additional requirements regarding documentation but for the most part you should be documenting: number of full-time employees, pay rates, payroll reports, tax filings, rent or utility payments. Also document the dates where you received funds from the loan, each time you spent loan funds and interest.

Maintain Staffing

The purpose of the Payment Protect Program was to keep your employees working during this time of uncertainty. When you apply for loan forgiveness, your number of employees will be included in the equation. The CARES Act will consider the average of full-time equivalent employees you kept on payroll during the covered period. The SBA will reduce you PPP loan forgiveness based on the average of full-time equivalent employee reduction.

Speak to Your Banker

During this pandemic, it has been vital to maintain your relationship with your banker. Take the time to talk with your lender and discuss the requirements for seeking forgiveness for your PPP loan. Be sure to ask for certain what documentation you will need to present when applying for loan forgiveness. 

Apply for PPP Loan Forgiveness

The SBA recently released the Loan Forgiveness Application. You fill out the application and submit it to your lender. When submitting your application, you must provide the required documentation. As stated above your lender may require additional document but per the SBA guidelines you are required to submit; payroll reports, pay rates, payroll tax filings, receipts, rent or mortgage agreements, bank statements and bookkeeping records.

As a small business owner, it is important to utilize your resources and build and leverage your relationships. If you don’t have a banker or was unable to secure PPP funding for your business Contact us. We want to help connect you to the resources you may need.

For more information regarding seeking forgives for your PPP loan, please visit the SBA website. To follow changes and updates, please visit the Treasury website.

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Kevin Love

Kevin Love is a passionate ecosystem builder and strategic program leader with over a decade of experience in community development, workforce activation, and public-private partnerships. In his role as Senior Program Manager at (NBIC), Kevin leads initiatives that drive inclusive economic growth, regional expansion, and sustainable support systems for entrepreneurs across Middle Tennessee and beyond. 

Prior to joining NBIC, Kevin held senior leadership roles in Chattanooga, where he launched workforce development programs and digital equity initiatives that served thousands across the region. His work focused on engaging underrepresented communities, supporting diverse founders, and creating new pipelines for innovation and employment. Kevin has also collaborated with city governments, higher education institutions, and national networks to deliver measurable impact through strategic programming and relationship building. 

A proud graduate of Leadership Chattanooga, Forbes under 30 and Chatter’s 20 Under 40, Kevin brings a deep commitment to service and a reputation for thoughtful execution. His leadership style blends creativity, collaboration, and a relentless focus on outcomes. Kevin is also an advocate for equitable access to resources, and he continues to build bridges across public, private, and nonprofit sectors to ensure lasting opportunities for all. 

Originally from Tennessee, Kevin is now spearheading NBIC’s regional relationship strategy, reconnecting with partners in Huntsville, Birmingham, and Louisville to expand the center’s reach and impact. He’s thrilled to be part of a mission-driven team at NBIC and looks forward to helping entrepreneurs thrive. 

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Abigail DaSilva
Abigail DaSilva is the marketing coordinator at NBIC, channeling her passion and creativity to support the organization’s mission of leveling the playing field for entrepreneurs. A proud graduate of Tennessee State University, Abigail holds a degree in design, which fuels her artistic sensibilities and impeccable eye for aesthetics. Before joining NBIC, Abigail embarked on her own entrepreneurial journey alongside her brother, where she spearheaded the sales and marketing efforts of their own venture. This experience honed her skills in strategic promotion, customer engagement, and marketing media. Abigail has played a crucial role in the company, transforming their media marketing strategies, specifically towards a more video-driven approach. Recognizing the power of visual storytelling, she has created compelling content and innovative campaigns that have amplified NBIC’s reach and engagement, strengthening their online presence and impact. Outside of her professional endeavors, Abigail is an avid art buff, frequently visiting museums and exploring immersive experiences that combine technology and creativity. She also has a deep love for travel, shopping, and anything that allows her to utilize her creative mind. With her unwavering commitment and broad range of experience, Abigail is a valuable asset to NBIC. She remains eager to push boundaries, elevate engagement, and empower entrepreneurs through her exceptional marketing expertise.
Anne-Marie Tanner
Anne-Marie Tanner is the Programs Coordinator at NBIC. With a Master’s degree in strategic marketing from Midway University and a Bachelor’s degree in design from University of Kentucky, she brings a unique blend of business experience and creativity to her work. Prior to joining NBIC in March of 2023, Anne-Marie worked as a small business and startup consultant, where she gained valuable experience in guiding entrepreneurs through the challenges and opportunities of launching and growing their businesses. Her expertise in strategic planning and her ability to quickly grasp new concepts makes her a strong asset to the NBIC team. As the Programs Coordinator at NBIC, Anne-Marie manages multiple components, including Foundations, E-Myth, Framework, and Groundwork. Anne-Marie values collaboration and strives to align her work with the vision and expectations of her colleagues. Beyond her professional career, Anne-Marie has a wide range of hobbies and passions. She is an accomplished Olympic weight-lifter. Additionally, with her husband, she started a medical clinic in Martin, TN, a brewery and events center in Paris, TN, and an airbnb property. Their goal is not only to build successful businesses, but also to provide economic stability and job opportunities to as many people as possible. With her extensive background in business, her entrepreneurial spirit, and her commitment to personal growth, Anne-Marie Tanner is an extremely valuable asset to NBIC. Her diverse skill set and positive mindset make her a catalyst for success, both for herself and the new businesses she assists.
Saturnie Antoine
Saturnie Antoine has been a part of NBIC since November 2021, serving as the R.I.S.E. UP Program Manager. She holds a Bachelor’s degree and has obtained a professional certification in coaching skills. With a diverse background in corporate work spanning over 15 years, Saturnie has worked in various sectors. As the R.I.S.E. UP Program Manager, Saturnie oversees the entire program. Her responsibilities include structuring the curriculum, sourcing speakers, and organizing the launch campaign. Additionally, Saturnie provides personalized professional coaching to the program participants, offering guidance and support to help them scale their businesses to $1 million plus level. Since the commencement of the program in March 2023, under Saturnie’s leadership, R.I.S.E. UP has witnessed numerous accomplishments and successes. Additionally, the program’s focus on emotional intelligence has helped participants navigate internal challenges and overcome obstacles inhibiting their growth. Outside of work, Saturnie values personal time spent with her family and loved ones. Her true passion lies in her role as a professional coach, where she finds fulfillment in assisting women on their journey towards personal and professional growth. Saturnie’s commitment to her clients and her extensive experience, coupled with her excellent coaching skills, allows her to provide comprehensive support to program participants, enabling them to achieve their goals and reach new heights. Under Saturnie’s leadership, the R.I.S.E. UP Program continues to flourish and make a lasting impact on the lives of female entrepreneurs.
Leroy Cunningham
Leroy Cunningham currently occupies the role of Community and Capacity Building Manager at NBIC. He holds a major degree in Business Administration from Carroll University in Waukesha, Wisconsin, along with minor degrees in Accounting and Economics. Leroy’s prior engagement with business development consulting brings great strength to the NBIC team. He has worked at three of the largest market capitalization companies in the world – Emerson Electric, General Electric, and Berkshire Hathaway. In his current role as the Community and Capacity Building Manager at NBIC, Leroy wears many hats. One of his primary objectives at NBIC is to increase the number of small minority-, women-, and veteran-owned businesses qualified to undertake contracts from prime contractors and government entities. By fostering relationships with community partners and engaging with prime contractors and government entities, Leroy works tirelessly to bridge the gap and provide opportunities for these businesses to flourish. Additionally, Leroy dedicates his time to consulting with business owners, providing them with valuable insights and guidance. By helping businesses at their current stage and empowering them to reach their goals, Leroy greatly contributes to the growth and success of NBIC’s clients. Outside of work, Leroy indulges in his love for reading, sports, and travel. With his vast knowledge, dedication, and passion for community empowerment, Leroy is committed to making a meaningful impact at NBIC. His wealth of certifications and global business experience lends a unique perspective and expertise to NBIC’s initiatives, which will undoubtedly drive the organization forward.
Octavia Wilson-Simmons
Octavia Wilson-Simmons brings more than 20 years of diverse industry experience to her role at NBIC, where she drives operational excellence, grant compliance, and technological innovation. She began her career in the oil and gas sector in 2000 as a Contract Analyst, where she developed expertise in contract negotiation, trading operations, and stakeholder management.

Over the course of her career, Octavia expanded her skills across account management, operational optimization, and project coordination, gaining cross-industry experience that includes consulting and healthcare. Her transition into consulting in 2021 further honed her ability to streamline logistics and operations for business growth, while her work in healthcare deepened her customer-first approach and adaptability.

Since joining NBIC in 2022, Octavia has been a driving force behind key operational improvements, data-driven decision-making, and program support initiatives that empower small businesses to scale. She leverages platforms such as Zendesk, Looker, and Salesforce to optimize workflows, strengthen stakeholder engagement, and enhance service delivery for entrepreneurs.

Passionate about creating efficient systems and sustainable impact, Octavia’s expertise in operations management, compliance, technology integration, and strategic support ensures NBIC’s entrepreneurs have the foundation needed for long-term success.