Business Resource Questions and Answers
Are there any resources available to help businesses?
Clark County has grants available to small businesses impacted by Covid-19. Their Business Stabilization grant is a working capital grant for up to $10,000 For more Information please follow the link below.
The City of Henderson has a Small Business Recovery Grant available. For more information please follow the link below.
The City of North Las Vegas has a Small Business Stabilization Loan in partnership with Prestamos. For more information please follow the link below.
The Governor’s Office of Economic Development has a Commercial Rental Assistance Grant. For more information please follow the link below.
Please follow the link below to see an expanded list of grant opportunities from the Office of Grant Procurement, Coordination, and Management.
What is the new extended deadline for the Payment Protection Program (PPP) loans?
The deadline for applying for the PPP has been extended until August 8, 2020.
For more information please visit:
Is there any financial assistance still available to small businesses through the SBA?
SBA’s EIDL which is a loan “advance” that does not need to be paid back is still available.
For more information please visit.
Is there any information available on Nevada’s plan to reopen?
The Governor has released a roadmap to recovery plan that can be found below outlining strategies and goals moving forward.
Where can I find information and guidelines for reopening my business?
The Southern Nevada Health District has put together a page with resources to help businesses as we prepare to resume operations following the Governor’s roadmap to recovery.
Please find the link below.
Where can I get access to the Vegas Chamber?
The Vegas Chamber is currently offering a free short-term membership available for businesses with 50 employees or less.
See the link below for additional information.
What can my business do to plan and prepare for COVID-19?
Follow guidance as provided by the CDC. Please see the link below for more information.
My company is located in the RDA, is there anything that the City can do to help?
The City of Las Vegas is offering grants of up to $2,000 to businesses that are located within the City’s redevelopment area to secure their building.
For more information please visit the link below.
Have there been any changes to family and medical leave that may affect my business?
The Families First Coronavirus Response Act was passed which expands family and medical leave for specified reasons related to Covid-19.
Please see the Department of Labor’s website for additional details.
Will there be any federal assistance to small businesses who have to comply with the expanded family and medical leave legislation?
Eligible employers may be able to receive tax credits to cover additional family and medical leave expenses.
For more information, please see the IRS’ website for additional details.
Is there assistance for businesses that need to lay off workers or shut down?
Rapid Response assists employers that need to lay off employees or shut down their business.
Email: email@example.com for more information.
Is there a way that I am able to communicate the changes to my business to the community?
The Review Journal is offering complimentary listings (print and online) to help businesses communicate the changes to their business operations.
Is there somewhere I can direct my employees who were laid off to apply for unemployment?
It is recommended that people apply for unemployment via DETR’s online portal.
Is there anywhere that I can go to gain additional capital to help my business during this time?
The Small Business Administration is providing low interest long term loans up to $2 million to help provide capital to small businesses.
Facebook is providing businesses cash grants and ad credits to help during these challenging times.
The Federal Reserve has established a Main Street Lending program to support small to mid-sized businesses by providing them with 4-year loans for companies with up to 10,000 employees and less than $2.5 billion in revenue. Principal and interest payments will be deferred for one year. Eligible banks may originate main street loans.
Small and medium sized businesses with active google accounts from last year will receive an ad credit that can be used at anytime this year.
Is the City of Las Vegas doing anything to help businesses that have been forced to close?
A 60-day grace period for business license renewals with due dates of March 1 or April 1.
Options to close general or privileged licenses and no cost to reinstate them
A liquor license option to pay a reduced fee during the temporary closure
A gaming license option to pay a reduced fee during the temporary closure
An ongoing acceptance of applications during this time
My non-profit is working to assist in response to COVID-19, are there any additional resources that I can take advantage of?
The Nevada Community Foundation has established a COVID-19 Emergency Response Fund. For more information, please visit the link below.
Have there been any changes regarding tax deadlines due to COVID-19?
The IRS has extended the filing deadline and federal tax payment date to July 15th.
Are there any other places that I can look for updated information and resources?
Please see an additional resource list below.
My business is looking to telecommute, are there any resources that I can take advantage of?
Zoom and Microsoft are offering programs to help companies that are looking to telecommute.
Are any of the major banks doing anything to help their customers?
The major banks are offering different programs to help customers deal with the economic implications of COVID-19
Capital one: https://www.capitalone.com/coronavirus/
Wells Fargo: call 1-800-219-9739 to speak with someone about your options if you are experiencing hardship from the Coronavirus.
Have there been any updates regarding evictions?
The Governor has ordered a moratorium on both residential and commercial evictions for the duration of the state of emergency.
Have there been any updates for homeowners who may have trouble paying their mortgages due to this?
The FHA has implemented a 60 day moratorium on foreclosures and evictions for single-family homeowners with FHA insured mortgages.
If your mortgage is owned by Fannie Mae or Freddie Mac you may be able to delay making your monthly mortgage payment. Contact your mortgage servicer for more information. The contact information can be found listed on your monthly mortgage statement.
Per the CARES Act, borrowers with federally backed mortgages may request forbearance by submitting a request to their servicer. This must be granted for up to 180 days and may be extended for an additional 180 days if requested by the borrower.
Please see the link below for a list of lenders offering mortgage assistance.
Am I able to receive money as a result of the CARES act?
There will be a $1,200 payment to most individuals with an adjusted gross income up to $75,000 and $2,400 to married couples with an adjusted gross income up to $150,000. An additional $500 will be paid per child. The payment would scale down by income.
How does the CARES Act expand unemployment benefits?
Recipients will now receive an additional $600 per week for up to four months. Unemployment benefits have also been expanded to cover self-employed workers, contractors, and people with limited work history.
How can the CARES Act help my small business?
The Payroll Protection Program (PPP) provides loans for small businesses (less than 500 employees) for expenses from February 15, 2020 through June 30, 2020. Small businesses in the hospitality and food industry with multiple locations may also be eligible at the store level if each employs less than 500 workers. Costs related to payroll, mortgage interest, utilities, and rent may be forgiven if all employees are kept on payroll. This program will be available until June 30th,2020.
You can apply for this program through any federally insured depository institution, federally insured credit union, and farm credit system institution. Lenders may begin processing loan applications as soon as April 3, 2020. For a sample form, please follow the link. https://www.sba.gov/document/sba-form--paycheck-protection-program-ppp-sample-application-form
Emergency Economic Injury Grants provide a cash advance of up to $10,000 within three days of applying for an Economic Injury Disaster Loan. In order to receive this advance, you must apply for the Disaster Loan. The advance does not need to be repaid if used for payroll, debt payments, rent, or business obligations.
A 50% payroll tax credit is available for wages paid to certain employees during the COVID-19 crisis up to $10,000 for businesses that were disrupted during the virus related shutdown.
Are the local utilities doing anything during this time?
Utility companies in Nevada are suspending disconnections and shut-offs due to nonpayment to ease customer stress during the coronavirus pandemic. Southwest Gas, NV Energy and the Las Vegas Valley Water District each announced emergency policies for late and nonpayment in light of coronavirus.
Where can I find resources from other municipalities?