Gov. Steve Sisolak announced that Nevada is one of the first states in the country to receive statewide approval for U.S. Small Business Administration (SBA) low-interest federal loans for small businesses suffering substantial economic injury as a result of COVID-19. Gov. Sisolak requested the Administrator of the SBA to implement the declaration with the foresight of being able to provide financial assistance to small businesses that are being negatively impacted by COVID-19.
The disaster declaration makes SBA assistance available in the primary Nevada counties of Clark, Douglas, Elko, Nye and Washoe as well as the neighboring counties of Churchill, Esmeralda, Eureka, Humboldt, Lander, Lincoln, Lyon, Mineral, Pershing, Storey, White Pine and Carson City. Neighboring counties in Arizona, California, Idaho, Oregon, and Utah are also eligible for assistance.
“Our small businesses are the lifeblood of our economy, and I am doing everything in my power to help them and their employees who are supporting families at home,” said Governor Sisolak. “Thank you to the SBA for recognizing that small businesses throughout our State need help paying fixed debts, meeting payroll, and paying other bills. I hope to continue working with the SBA and our federal delegation to ensure our citizens get all the assistance and resources they need to get through this challenging time.”
Small businesses, private non-profit organizations, small agricultural cooperatives, and small aquaculture enterprises that have been financially impacted may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses.
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus. The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 17, 2020.
For more information about available SBA resources and services, please visit: SBA.gov/coronavirus [sba.gov].