News Release: Tennessee Business Relief Program
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-
Tattoo parlors, spas, and other personal care services
Gyms and fitness centers
Hotels and other travel accommodations
Theaters, auditoriums, performing arts centers and similar facilities
Museums, zoos, and other similar attractions
Bowling centers and arcades
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)-
Home furnishing stores
Jewelry, luggage, and leather goods stores
Sporting goods, hobby, and musical instrument 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.