(Michael McGrady) – Small businesses across Clark County, Nev., are now able to apply for thousands of dollars in new financial support from the county government.
The county said the program is in response to Las Vegas Valley businesses that have experienced a significant economic downturn caused by the COVID-19 pandemic.
Clark County’s Small Business Stabilization Grant will allow local businesses to receive grants of $5,000 or $10,000 each.
“Thousands of small businesses here and across the country are barely hanging on,” County Commission Chair Marilyn Kirkpatrick said in a statement. “This program is an investment in our community that will keep businesses open and people working.”
“Empty storefronts and unemployed workers are terrible for neighborhoods and tragic for the affected families,” Commissioner Michael Naft added. “By supporting small businesses when they need it most, we can ease their financial strain and help save the jobs that support thousands of families in Southern Nevada.”
The maximum award for the grant depends on businesses’ number of employees. Under its specific funding structure, the grants don’t need to be repaid. The funds can be used for working capital to cover needs for general business expenditures such as location rent, utilities, inventory, and even payroll.
Businesses have access to other programs like the Small Business Rental Assistance grant or the Small Business Protective Retrofit grant. The retrofit grant, for example, offers businesses in need the opportunity to receive up to $5,000 in reimbursement for facility modifications, the purchase of personal protective equipment (PPE) for employees, the purchase of virus screening tools, and the purchase of updated and COVID-19 related training materials.
The county also distributed over $2 million to more than 500 businesses through a small business grant program, which was disbursed earlier this summer. The funding came from the Coronavirus Aid, Relief, and Economic Security (CARES) Act that passed earlier this year.