Disaster Assistance Could Bring Relief to Nevada’s Small Businesses

Business owners can apply for the loans

March 17, 2020 - 2:48 pm
Disaster Assistance

As Nevada’s largest gaming employers look to the federal government for assistance as they try to navigate the coronavirus crisis, small business owners are getting a reprieve as well. 

After approving Gov. Steve Sisolak’s request for a disaster declaration, the U.S. Small Business Administration (SBA) announced on Tuesday that it would offer low-interest federal disaster loans to companies and private, nonprofit organizations in 16 Nevada counties and Carson City. 

The announcement came after the agency relaxed criteria for disaster relief. SBA Administrator Jovita Carranza says the loans can be used to, “pay fixed debts, payroll, accounts payable and other bills that can’t be paid” because of the ongoing COVID-19 pandemic. Loans come with an interest rate of 3.75 percent for small businesses and 2.75 percent for nonprofits, and the deadline to apply is December 17, 2020. 

Business owners can apply for the loans via the SBA website.