WASHINGTON, D.C. – Today, U.S. Senators Jacky Rosen (D-NV) and Catherine Cortez Masto (D-NV) released the following statement highlighting that Nevada’s small businesses are now able to apply for the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan Program. Senators Rosen and Cortez Masto invite Nevada small businesses interested in applying to complete an application to go to the SBA website.
“Nevada’s small businesses are the engine that power our economy and we must do everything we can to ensure they have the tools to weather this storm,” said the Senators. “These loans can provide vital economic support to small businesses and private, non-profit organizations by providing working capital to overcome the temporary loss of revenue as a result of COVID-19. The wellbeing of Nevada families and the economic stability of our business community are our top priorities. We will continue working closely with state and federal officials to maintain the safety, security, and health of Nevada residents and the more than 250,000 small businesses that call Nevada home.”
BACKGROUND: SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for a small business and private, non-profit organizations. SBA’s Economic Injury Disaster Loans can be used to cover payroll, purchase inventory, pay debt, or other expenses if a business has no access to credit elsewhere. Visit www.SBA.gov/coronavirus for more information and www.SBA.gov/disaster to apply for a loan.
Additional SBA resources and information for businesses dealing with the impacts of COVID-19 can be found here. The SBA Nevada District Offices in Las Vegas and Carson City are also a great source of support and counseling for small businesses and can be reached here.
Two weeks ago, the Senators voted to pass an $8.3 billion emergency coronavirus funding package that included $1 billion in loan subsidies that would support $7 billion in low-interest loans for small businesses impacted by financial losses as a result of the coronavirus outbreak.