Deadline fast-approaching for TN Business Relief Funds

Payments range from $2,500 to $30,000

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Time is running out to certify for relief payments from the Tennessee Business Relief Program. Federal Coronavirus Relief Funds have been set aside to assist Tennessee small businesses impacted by the COVID-19 crisis. The deadline to certify for a relief payment is Sept. 25, 2020.

Payments range from $2,500 to $30,000, depending on the amount of the business’ gross sales.

“The various forms of relief that have come available throughout the pandemic have been critical to the stability of many Upper Cumberland businesses,” said Megan Choate, UCDD’s director of lending and economic development. “We are thankful for the state’s realization of local needs and designation of the TN Business Relief Program to further assist eligible businesses during this time.”

In June, Gov. Bill Lee announced the use of federal Coronavirus Relief Funds to assist Tennessee small businesses affected by the pandemic. Gov. Lee has directed the Tennessee Department of Revenue to issue business relief payments through the state’s business relief program to small businesses for costs incurred as a result of mandatory business closures. An expansion to the Tennessee Business Relief Program was announced last month and included additional eligible business types.

Tennessee’s Department of Revenue has proactively identified potentially eligible businesses using information available in the state’s tax system and began notifying businesses last month. Businesses who have received a notification are to certify their business information on the TNTAP website. Once a business completes its certification and the department verifies eligibility, a relief payment will be issued.

If you previously submitted a certification form and received notification that your business was ineligible, there is no need to resubmit your information. If the department can confirm your eligibility under the expanded Tennessee Business Relief Program, you will automatically receive a relief payment as well as notice of this determination.

For assistance or more information about other available resources, please contact the Upper Cumberland Development District at (931) 432-4111 or the UC Small Business Development Center at (931) 520-6081.

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