Rosen, Cortez Masto Help Secure Nearly $113 Million in Funding to Support Nevada’s Small Businesses

The Senators Helped Secure This Funding Through The American Rescue Plan

WASHINGTON, DC – Today, U.S. Senators Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, and Catherine Cortez Masto (D-NV) applauded news that Nevada’s State Small Business Credit Initiative will receive nearly $113 million in funding from the American Rescue Plan that they helped pass. This will help Nevada operate five small business support programs, including the continuation of its collateral support and venture capital programs, and three new loan participation programs.

“Small businesses are at the heart of our economy in Nevada, making up more than 99 percent of the state’s businesses,” said Senator Rosen. “This historic investment I helped secure will ensure that Nevada’s small businesses have access to the capital needed to grow and thrive in our state, especially as our economy rebounds from the economic effects of the pandemic.” 

“Funding I secured in the American Rescue Plan is coming to Nevada to strengthen our innovative small business sector and create good-paying jobs,” said Senator Cortez Masto. “This funding will help Nevada’s economy continue to grow, and I’ll continue working to support all our small businesses.”

Senators Rosen and Cortez Masto have actively worked to protect and promote small businesses in Nevada and across our nation. Recently, Senator Rosen introduced bipartisan legislation that would require the Small Business Administration to create a centralized website for all federal, state, and local licensing and business permit information and materials for small businesses. Rosen also recently visited a Reno-based defense startup as part of her role as Senate Chair of Congressional Startup Day, a bipartisan event held each year that recognizes the innovation and entrepreneurship of startups across the country.