Expanding relief for small businesses struggling because of the response to the COVID-19 pandemic, Tennessee announced $50 million in new small business grants Wednesday.
Ten percent of the funds are earmarked for businesses owned by women, minorities, veterans and disabled people.
Grants up to $30,000 will be available to reimburse small businesses and nonprofits for eligible expenses incurred between May 1 and Aug. 31, 2020 related to the pandemic. Expenses eligible for reimbursement include costs to enable social distancing, personal protective equipment purchases, contactless equipment expenses, payroll expenses and mortgage interest.
“Small businesses are the backbone of our economy and supporting them through these difficult times has been one of the core missions of the Financial Stimulus Accountability Group,” said Gov. Bill Lee, noting the program will seek to provide aid to businesses not eligible for previous federal funding.
An online application