Grant Program To Help Nevada Small Businesses Impacted By Pandemic
Source: Las Vegas Sun, by John Sadler
Small Nevada businesses hurt by the coronavirus pandemic can get up to $10,000 to help cover operating expenses under a state grant program announced today.
The $20 million program, bankrolled by federal coronavirus relief funds, is expected to aid up to 3,000 applicants.
Because the money will be distributed as a grant, it will not have to be repaid.
Nevada bars, pubs, taverns, breweries and distilleries, especially hard hit by the pandemic, will be prioritized for funding, Gov. Steve Sisolak said.
“Throughout this pandemic, our small businesses have weathered the storm with patience, grace and a keen sense of creativity and ingenuity,” Sisolak said.
Other prioritized businesses include those owned by women, minorities, veterans or those with a disability.
For-profit businesses with fewer than 50 employees and annual gross revenue less than $4 million qualify for the program.
They must have a physical location in Nevada, have an active business license prior to March, be in good standing with the state and be able to demonstrate financial hardship related to the pandemic. Home-based businesses can apply.
Nonprofits, chambers of commerce and arts and cultural organizations do not have to meet employee or revenue guidelines.
Publicly traded businesses, as well as those illegal under federal law, such as marijuana dispensaries, do not qualify.
Arts and cultural organizations and chambers of commerce serving more than 10 businesses can receive up to $20,000.
Grant money can be used to cover expenses including payroll, rent, utility bills, inventory, protective equipment and virus safety modifications such as adding sneeze guards.
The application period runs from 8 a.m. Monday to 5 p.m. Nov. 6. Applications will be available on the Governor’s Office of Economic Development website.
Grants are expected to go out two weeks after the application period closes, State Treasurer Zach Conine said.
“Small businesses are the lifeblood of our economy, and small businesses will be the backbone of our recovery,” Conine said.
Filed Under: Nevada Watch