LAS VEGAS, NV – Today, U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, hosted her first annual Small Business Resource Fair – held virtually this year -- to provide Nevada small businesses with information on how to access resources at the local, state, and federal level. During the event, Rosen highlighted federal resources she fought for that are available to support Nevada businesses – including EIDL loans for small businesses, direct aid to restaurants through the SBA’s Restaurant Revitalization Fund, and support for live entertainment venues.
“Nevada small businesses have faced economic challenges due to the pandemic,” said Senator Rosen. “As a member of the Senate Small Business Committee, providing relief to our small business community has been one of my top priorities. That’s why I was proud to host this Small Business Resource Fair, to help our business owners obtain access to the resources they need on their road to recovery. I will continue advocating for the needs of our small business community to ensure they have the tools to succeed.”
BACKGROUND: Event participants included:
- Joseph Amato, Director of Nevada's Small Business Administration District Office;
- Saul Ramos, Deputy Director of Nevada’s Small Business Administration District Office;
- Shaundell Newsome, Chairman of the Urban Chamber of Commerce;
- Sonny Vinuya, President and CEO of the Asian Chamber of Commerce;
- Peter Guzman, President of the Latin Chamber of Commerce;
- Carol Kolson, President and CEO of the Mesquite Chamber of Commerce;
- Sonia Joya, Director of Minority & Business Support for the Nevada Governor's Office of Economic Development;
- Mary Kerner, CEO of the Rural Nevada Development Corporation;
- Caroline McIntosh is a Rural Business Development Advisor with the Nevada Small Business Development Center in Ely;
- Ann Silver, CEO of the Reno + Sparks Chamber of Commerce;
- Mike Kazmierski, President and CEO of the Economic Development Authority of Western Nevada;
- Russ White, Executive Director of LAMBDA Chamber of Commerce.
There are more than 280,000 small businesses in Nevada, which make up 99.2% of Nevada businesses.
- 47,282 small businesses with fewer than 50 employees;
- More than 70,000 minority-owned small businesses;
- More than 20,000 Asian-owned small businesses;
- More than 23,000 veteran-owned small businesses – 1 in 8 small businesses in Nevada overall.
At the onset of the pandemic, Rosen’s team launched a bilingual small business portal with information for small businesses to access loan applications and Small Business Administration (SBA) resources.
Small businesses that are experiencing difficulties navigating federal assistance can also send their inquiries and questions to SmallBusiness@Rosen.Senate.gov, and a team of dedicated bilingual professionals will respond to provide assistance.
Senator Rosen has been a champion for small business relief programs to help save jobs in Nevada. Last month, Senator Rosen helped increase the cap on Economic Injury Disaster Loans (EIDL) for small businesses from $150,000 per business to $2 million per business, the result of a year-long legislative effort that included introducing bipartisan legislation, raising the issue in multiple Senate hearings and floor speeches, and working with the Biden Administration. These low-interest loans can be used to pay for small business operating expenses.
- $25 billion for direct aid to restaurants via a new Restaurant Revitalization Fund,
- $15 billion in new EIDL grants for small businesses, in line with the amount in Senator Rosen’s EIDL for Small Businesses Act, and
- $7.25 billion for the Paycheck Protection Program, including expanded eligibility.
In September 2020, Senator Rosen co-sponsored the RESTAURANTS Act (S. 4012), bipartisan legislation to create a multi-billion-dollar revitalization fund at the U.S. Department of the Treasury to provide grants to restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges, and other similar businesses to help with expenses such as payroll, benefits, mortgage, rent, utilities, maintenance, supplies, food, and debt obligations to suppliers. SBA’s new $28.6 billion Restaurant Revitalization Fund, authorized by the American Rescue Plan Act, is based on this legislation.
Also in September 2020, Senator Rosen co-sponsored the Save our Stages (SOS) Act (S. 4258), bipartisan legislation that would make U.S. Small Business Administration (SBA) grants available to eligible live venue operators, producers, promoters, or talent representatives to address the economic effects of the COVID-19 pandemic on certain live venues. Provisions from this legislation were eventually signed into law, becoming the Shuttered Venue Operators grant – providing direct relief for live venues in Nevada and across the country.