On June 2, 2020, Governor Bill Lee announced the use of federal Coronavirus Relief Funds to assist Tennessee small businesses impacted by the COVID-19 crisis. Governor Lee has directed the Tennessee Department of Revenue to issue business relief payments through the Tennessee Business Relief Program to small businesses for costs incurred as a result of mandatory business closures. The deadline to certify for a relief payment was September 30, 2020.
Frequently Asked Questions
No, qualifying payments under the Tennessee Business Relief Program do not have to be repaid.
The amount of the business relief payment will be based on the annual gross sales of the business. Please see the table below:
|Annual Gross Sales||Payment Amount|
|$1 - $100,000||$2,500|
|$100,001 - $500,000||$5,000|
|$500,001 - $1,000,000||$10,000|
|$1,000,001 - $5,000,000||$20,000|
|$5,000,001 - $10,000,000||$30,000|
Once the certification form has been completed and a business’ eligibility is confirmed, the department will issue a business relief payment. Payments will be made by direct deposit if the business has previously provided bank account information and authorized the Department to save that information. Otherwise, payments will be made by check. After September 25th, all payments will be made by check.
Any funds received from the Tennessee Business Relief Program should be used to respond to the financial disruption resulting from COVID-19 and its effects on your business. Funds must not be used for payment of tax liabilities to a government agency. Businesses must also keep records regarding how the funds are spent.
By accepting funds, businesses acknowledge and agree that they are subject to potential audit or other verification by the State of Tennessee concerning the qualification for and use of these funds. Funds are subject to recapture by the State of Tennessee if payment requirements are not met.