Tennessee SB1009 establishes a recovery grant fund for small businesses affected by extenuating circumstances.

Tennessee SB1009 creates a small business recovery grant fund to aid eligible small businesses affected by unforeseeable events. Eligible businesses must be independently owned, operate in Tennessee, and have gross receipts of up to one million dollars. They must also demonstrate a substantial decline in revenue or operational disruption due to events like violent acts or construction disruptions. The fund, administered by the Department of Economic and Community Development, will cover costs such as payroll, rent, and utilities for up to six months.

Tennessee SB1009 establishes a recovery grant fund for small businesses affected by extenuating circumstances.

Tennessee SB1009 creates a small business recovery grant fund to aid eligible small businesses affected by unforeseeable events. Eligible businesses must be independently owned, operate in Tennessee, and have gross receipts of up to one million dollars. They must also demonstrate a substantial decline in revenue or operational disruption due to events like violent acts or construction disruptions. The fund, administered by the Department of Economic and Community Development, will cover costs such as payroll, rent, and utilities for up to six months.