Small business relief available in rural Nevada
Funding for entrepreneurs and business owners in rural Nevada is available through a program launched in the Silver State.
The Nevada Governor’s Office of Economic Development awarded a Community Development Block Grant CARES Act funds to the city of Wells and the Audacity Institute in Nevada totaling $500,000 for small business relief in rural Nevada impacted by COVID-19.
With the funds, Audacity has launched its Rural Business Assistance Program and is now accepting applications for entities in business currently and people with a business idea. Through the RuBa program, small businesses based in rural Nevada, and entrepreneurs looking to get started, could receive up to $25,000 in funding. Also, if recipients of the funds complete a nine-month-long online training and mentorship program, the loan is 100% forgivable.
“The RuBA program was designed to provide funding and support for business owners and those with amazing ideas,” said Danielle Rees from the Audacity Institute. “Audacity will provide mentoring and business training with peer support from a cohort of other Nevada rural business owners. The virtual training will require just a three-hour commitment per month over the nine-month program.”
GOED awarded the block grant CARES Act funding to the city of Wells, where the Audacity Institute will administer the program that will help launch, grow and provide COVID-19 relief to small business in the rural part of the state. Applicants can not be based in Clark County or Reno or Sparks to be eligible.
This isn’t the only federal funding rural Nevada has seen with federal support.
“Nevada received more than $14 million in CDBG-CV funding for rural communities to benefit low- and moderate-income persons,” said Patty Herzog, GOED director of rural economic and community development. “The city of Wells and the Audacity Institute have developed a program that will support small businesses impacted by COVID and help provide permanent jobs and essential support for entrepreneurs in rural Nevada.
“An estimated 800,000 small businesses permanently closed nationwide during COVID-19. According to the U.S. Small Business Administration Office of Advocacy, small businesses are the backbone of Nevada’s economy, accounting for 99 percent of all businesses statewide and employing about 42 percent of the state’s workforce.”
Jolene Supp, Wells City Manager, said, “Training for small business owners is so badly needed. They have the dream and the desire. Training and mentorship will ensure long-term sustainability and success for small business, downtown and city tax bases.”
Greater Nevada Credit Union also contributed $25,000 toward Audacity’s outreach to rural businesses and other business owners from undeserved populations.
“We strive to help Nevadans live greater,” said Danny DeLaRosa, chief development officer at GNCU. “In supporting outreach to rural county businesses, we can assist more entrepreneurs of diverse backgrounds in making valuable impacts in their communities.”
The Audacity Institute has been on a rural tour promoting the new program. Representatives from Audacity made a stop in Tonopah along its path.
“On our rural tour last week we met dozens of businesses that are not visible on main street – garage tinkerers, home-based canners and quilters, and students building apps,” said Kelly Northridge from the Audacity Institute. “We believe that great ideas come from anywhere and encourage all small business owners and those with ideas to apply.”
How to qualify
■ Applicants must have a business or business idea with less than $2 million in annual sales.
■ Applicants must be based in rural Nevada, outside of Reno, Sparks and Clark County.
■ Must be impacted by COVID-19.
The application period opened on Monday and closes on Sept. 3 at 11:59 p.m. Applications are available in English and Spanish and can be accessed at www.RubaNV.com
Funding information can be found at https://audacityinstitute.org/funding
Applicants can get application assistance in both Spanish and English at 775-470-7789 or info@audacityinstitute.org
