NASHVILLE, Tenn. (WKRN) — Governor Bill Lee announced a new relief program for Tennessee businesses impacted by COVID-19.
It seems every week brings a new challenge for us every year and that held true in this last week the profound protest of recent days gripped the nation and our attention my heart is with those who are hurting and with those who are bravely and peacefully speaking out against injustices in this country. Some have hijacked peaceful protest and I say this we will not tolerate violence against our people or property in Tennessee. Violence doesn’t represent our state it tears at the fabric of who we are and it prevents us from learning from one another.Governor Bill Lee
Lee said the Tennessee Business Relief Program will set aside $200 million in federal coronavirus relief funds through of Department of Revenue to small businesses that qualify.
The COVID-19 pandemic has created immense economic pain across our state and especially among small businesses that faced temporary closure. As we responsibly steward our federal stimulus money we have worked to quickly prioritize our small businesses and I thank the work of the Financial Stimulus Accountability Group for their partnership in this.Governor Bill Lee
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 program will award 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.