Officials announce $50 million in small business relief funds
NASHVILLE, Tenn. — State officials say a new grant for small businesses suffering during the COVID-19 pandemic is now available.
Gov. Bill Lee, along with the Financial Stimulus Accountability Group, announced an initial $50 million in Coronavirus Relief Funds for the Supplemental Employer Recovery Grant.
The grant will include specific support for businesses that are minority-owned, women-owned, veteran-owned or disabled persons-owned, according to a news release from the Governor’s Office.
“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. Lee. “The SERG program will provide further relief to small businesses, especially those who may not have been able to access previous federal and state relief funds.”
Both businesses and non-profits can apply for the grant from October 7 to December 29, according to the release. The state says the grant will be offered on a first come, first serve basis until funds run out.