The Governor’s Office of Economic Development (GOED) will have a new small business grant program to help with the impacts of COVID-19. Because the previous program, the Commercial Rental Assistance Grant (CRAG) program, was so restrictive only $8.5 million of the $20 million available was able to be awarded to applicants.
The new program, the Nevada COVID-19 Emergency Small Business Recovery Grant Program is far less restrictive. Eligible expenses will include payroll, rent, utility bills, inventory, personal protective equipment, supplies for cleaning and sanitation, and expenses related to retrofitting in order to comply with social distancing and other health guidelines.
Business eligible to apply include:
- Nevada small businesses (up to 50 employees), including sole proprietorships, independent contractors and those that are self-employed and home-based businesses.
- Non-profit organizations – all 501(c) – including Chambers of Commerce
- For profit and non-profit arts and culture organizations
Businesses and other non-profits can receive up to $10,000 for any eligible expense and Chambers of Commerce, depending on the number of businesses they serve, can receive up to $20,000. Arts and Culture organizations can receive up to $20,000.
To be eligible to receive grant funding under the program, a business must have experienced a hardship due to COVID-19; have a physical location in Nevada; have an active business license as of March 1, 2020; be in good standing with the State; and have an annual gross revenue under $4 million. Non-profits, Chambers and arts and culture organizations will not have an employee requirement.
Publicly traded companies and their subsidiaries as well as businesses illegal under federal law are ineligible.
Completed applications will be prioritized as follows:
- Disadvantaged Business Enterprises
- Arts & Culture Organizations
- Other businesses
- Other non-profits
The application portal will be found on the GOED website – look for it sometime in October. Applicants will be required to complete a simple application form and upload required documentation directly in the form.
Source: Meeting Packet (pp. 34-40) from the September 25, 2020 Interim Finance Committee Meeting (https://www.leg.state.nv.us/App/InterimCommittee/REL/Document/16431)