News Release: Tennessee Business Relief Program

COVID-19 Programs Economic Chamber News Release

Governor Lee announced a new relief program for Tennessee businesses affected by the COVID-19 pandemic. The Tennessee Business Relief Program will direct approximately $200 million in federal Coronavirus Relief Funds through the Department of Revenue directly to small businesses that qualify. 

 

The Tennessee Business Relief Program amounts awarded will be based on the annual gross sales of the business. More details will be posted on the Department of Revenue’s website in the coming days. We will keep you updated in the Weekly Wrap Up and the COVID-19 section of our website

 

Roughly 28,000 Tennessee businesses are expected to qualify, with more than 73% of those businesses earning annual gross sales of $500,000 or less.

 

The following types of small businesses are eligible under the program-

 

Barber shops

Beauty shops

Nail salons

Tattoo parlors, spas, and other personal care services

Gyms and fitness centers

Restaurants

Bars

Hotels and other travel accommodations

Theaters, auditoriums, performing arts centers and similar facilities

Museums, zoos, and other similar attractions

Amusement parks

Bowling centers and arcades

Marinas

Amusement, sports and recreational industries

Promoters of performing arts, sports, and similar events

Agents and managers of artists, athletes, and entertainers

Independent artists, writers, and performers

 

In addition, the following small businesses are eligible if their sales were reduced by at least 25%, as shown on their April sales tax returns (filed in May)-

 

Furniture stores

Home furnishing stores

Clothing stores

Shoe stores

Jewelry, luggage, and leather goods stores

Sporting goods, hobby, and musical instrument stores

Book stores

Department stores

Office supply, stationery and gift stores

Used merchandise stores

Other miscellaneous stores

 

We will keep you updated on developing details on this. We ask that if you apply for these funds you let us know so we can track our members that receive and don’t receive these funds, in our work for equity in the recovery.

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