Tennessee small businesses are now eligible for disaster assistance loans through the U.S. Small Business Administration (SBA).
Click HERE for information on the application process or APPLY through the SBA website.
The SBA’s Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. These loans are slated to be available by April 3. Learn more HERE or APPLY today.
Gov. Bill Lee has directed the Tennessee Department of Revenue to issue Economic Relief Payments to assist small businesses with the costs incurred as a result of mandatory business closures and significant revenue drop in April due to COVID-19. Learn more HERE.
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The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration. Learn More.
The Export-Import Bank of the United States (EXIM) is announcing relief provisions for exporters and financial institutions located throughout the United States that may have been affected by COVID-19. If you have encountered any shipment problems, payment difficulties, liquidity problems or other business interruptions that require other flexible arrangements from EXIM in addition to the ones outlined HERE, EXIM stands ready to work with you in partnership to overcome these issues. Learn More.
Resilience in a Box is based on best practices and designed by the U.S. Chamber of Commerce, in partnership with UPS, to educate newcomers on business resilience. Small businesses are both highly vulnerable and can be without adequate resources to focus on preparedness actions. These resources will guide companies toward addressing preparedness issues while building in flexibility to handle potential business interruptions. Learn More.
The Tennessee Department Of Labor has developed a new FAQ page with contact information and resources for employers, employees and those who are self-employed. Learn more.