Nevada adds $20M to program to aid small businesses, nonprofits
Nevada is doubling funds for a state grant program for small businesses and nonprofits after thousands applied on the first day.
Gov. Steve Sisolak said Wednesday that Nevada will add $20 million to the Pandemic Emergency Technical Support Grant. The state moved up its deadline to submit an application to 5 p.m. Thursday.
When the program went online at 8 a.m. Monday, the state received 1,500 applications within the first 15 minutes, according to the Governor’s Office of Economic Development. By 4 p.m. Monday, more than 5,800 applications had been started and 3,761 applications were submitted.
“I am pleased to see so many small businesses throughout Nevada taking advantage of this new, streamlined program to get access to relief funding and help stimulate our economy during this crisis,” Sisolak said in a statement. “I remain committed to ensuring the State help small businesses get the support they need and deserve at this time.”
Today, I'm excited to join @NVTreasurer & @DiversifyNevada in announcing an additional infusion of $20 million in to the Pandemic Emergency Technical Support (PETS) grant program! Since Monday, the program has seen a tremendous response from small
businesses & non-profits…— Governor Sisolak (@GovSisolak) October 21, 2020
Business leaders applauded the state’s decision to pour more funds into the program.
Randi Thompson, the state director of the National Federation of Independent Business, said Wednesday’s announcement “is welcome news for many Nevada businesses that continue to struggle to survive during this pandemic.”
The $40 million program uses federal COVID-19 relief funding that will be administered through the Nevada Treasurer’s Office, the Governor’s Office of Economic Development and the Department of Business and Industry. Nonprofit organizations are also eligible to apply.
Because the payouts are grants, business owners do not need to repay the funds. Businesses can expect payment throughout November, according to the state treasurer’s office and the Governor’s Office of Economic Development.
“We are working to quickly approve and process applications to get money into the hands of Nevada small businesses as soon as possible,” state Treasurer Zach Conine said in a statement.
Contact Jonathan Ng at jng@reviewjournal.com. Follow @ByJonathanNg on Twitter.