Lynchburg small businesses may automatically qualify for federal COVID-19 relief dollars

To learn more about the types of Lynchburg small businesses that automatically qualify for federal Coronavirus Relief dollars, visits the links at the end of the article. {File Photo}

Attention small business owners: Governor Lee this week announced $200 million in federal Coronavirus Relief Funds through the Department of Revenue. And the best news, there’s no need to apply. Awards will be made directly to small business based on their annual gross sales.

Examples of Lynchburg business that may automatically qualify are beauty shops, restaurants, hotels, attractions like museums, and artists. Additionally, retail stores that had their sales reduced by at least 25 percent, as shown on their April sales tax returns, will also qualify.

“The COVID-19 pandemic has created immense economic pain across our state and especially among small businesses that faced temporary closure,” said Governor Lee. “As we responsibly steward our federal stimulus money we have worked to quickly prioritize our small businesses and I thank the work of the Financial Stimulus Accountability Group for their partnership in this.”

Roughly 28,000 Tennessee businesses are expected to qualify, with more than 73 percent of those businesses earning annual gross sales of $500,000 or less.

To read the complete press release, click here. To learn more about business qualifications, visit the Department of Revenue’s website. •

{The Lynchburg Times is the only independently owned and operated newspaper in Lynchburg. We cover Metro Moore County government, Jack Daniel’s Distillery, Nearest Green Distillery, Tims Ford State Park, Motlow State Community College, Moore County High School, Moore County Middle School, Lynchburg Elementary, Raider Sports, plus regional and state news.}

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