New Small Business Relief Plan Released

House Speaker Cameron Sexton joined with Governor Bill Lee and other state officials Tuesday to announce a new relief program for small businesses.

The program targets business sectors that were closed by state order for the longest period of time. Tennessee Business Relief Program will direct approximately $200 million in federal COVID-19 dollars to provide relief. State officials said some 28,000 businesses can qualify.

“Our small businesses drive our local and statewide economies, and their success is critical to our continued, swift economic recovery from the COVID-19 pandemic,” Sexton said. “I am pleased to join with Rep. Marsh, Rep. Love and members of the Financial Accountability Group to support all those businesses who have been adversely affected by these extraordinary circumstances through this program so they remain successful.”

Small businesses eligible categories include barber shops, beauty salons, nail salons, tatoo parlors, spas, and other personal care services, gyms and fitness centers, restaurants, bars, motels 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 and agents of events or artists as well as independent artists, writers, and performers are also eligible.

Relief amounts will be based on the annual gross sales of the business. The Tennessee Department of Revenue will administrate the program.