Forgivable loans targeted at small rural Nevada businesses

Small businesses in rural Nevada that have innovative ideas or are in need of financial assistance are being encouraged to apply for funding from a $500,000 grant.

The Governor’s Office of Economic Development awarded half a million dollars in CARES Act funding for the program, which is being targeted at rural communities outside of the state’s major metro areas, according to GOED spokesman Greg Bortolin.

“This one is aimed at rural businesses outside of Clark County, the City of Reno and the City of Sparks,” Bortolin said. “The city manager in Wells is actually helping to administer the grant.”

Applicants must have less than $2 million in annual sales and also have been impacted by COVID-19. Interested businesses can apply for the funds, which come in the form of forgivable loans up to $25,000, through the Rural Business Assistance Program. 

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