FOR IMMEDIATE RELEASE
October 14, 2020
Governor Sisolak announces $20 million relief package for small businesses and non-profits
CARSON CITY, Nev. – Today, Governor Steve Sisolak announced details for a new $20 million grant program aimed at helping small businesses and non-profit organizations that have been impacted by the COVID-19 pandemic.
The Pandemic Emergency Technical Support (PETS) grant program makes $20 million in Coronavirus Relief Funds available to small businesses, non-profit organizations, arts and culture organizations, and local Chambers of Commerce to respond to the COVID-19 pandemic.
“Small businesses throughout Nevada have been among the hardest hit by COVID-19 and this new program will streamline the process to get relief funding out to folks who need it very quickly,” said Governor Sisolak. “If your organization has been hurt by the pandemic and you need help with operational costs or expenses to keep your customers safe, I urge you to apply. At a time when our small businesses have made such great sacrifices, it was my priority to ensure the State gets them the support they need and deserve.”
“Since the beginning of the pandemic, our office has been focused on making sure that small businesses are protected and that our economic recovery is as quick as possible,” said Treasurer Conine. “This Program will go a long way to keep Nevadans employed, small businesses open, and our State moving in the right direction.”
The Program is being administered collaboratively by the State Treasurer’s Office, the Governor’s Office of Economic Development, and the Department of Business and Industry. The application process will open on Monday, October 19, 2020 at 8 a.m. and will close on Monday, November 2, 2020 at 5 p.m.
Businesses and organizations who meet the following criteria are eligible to receive funding under the program:
· Have a physical location in State (includes home-based businesses);
· Been in operation prior to March 1, 2020;
· Have under 50 employees; and
· Have an annual gross revenue under $4 million;
Through a simplified application process, eligible entities can apply for up to $10,000 in emergency grant funding, which is not required to be paid back. Grant funds can be used to pay for a number of expenses such as: rent, inventory, payroll, utilities, personal protective equipment, and costs associated with retrofits.
The Program was designed to be flexible so that eligible businesses and non-profits can adequately respond to the COVID-19 pandemic and safely maintain their operations.
These grant program funds will be prioritized to help those businesses that have been hit the hardest and have made greatest sacrifices while continuing to serve their communities. This list includes, but is not limited to, disadvantaged businesses, non-profits, bars, pubs, taverns, breweries, distilleries, and vineyards.
More information about the PETS Program can be found in English and Spanish can be found HERE.
Businesses and non-profit organizations who have questions about this Program are encouraged to email firstname.lastname@example.org or call 1-800-336-1600.
Home Means Nevada, Inc
A non-profit entity established by the Department of Business and Industry
Press release contact: Teri Williams, Public Information Officer- email@example.com
For Immediate Release: September 24, 2020
Homeowner Assistance Portal Launched to Assist Nevada Homeowners Impacted by COVID-19 Pandemic
LAS VEGAS, NV - Home Means Nevada, Inc. (HMN), a state-affiliated nonprofit organization that administers certain functions of the Foreclosure Mediation Program, has launched a new, innovative tool for struggling Nevada homeowners as part of its ongoing COVID-19 response initiative. Utilizing the existing foreclosure mediation portal, HMN has added The Homeowner Connect (THOC), a one-stop resource for homeowners experiencing financial hardship related to the COVID-19 pandemic. THOC can be accessed through the HMN website - http://www.homemnv.org/ - or by utilizing the direct link below.
“We are pleased to have the opportunity to make THOC available for all Nevadans and appreciate the cooperation of the mortgage servicing community as we assist Nevada homeowners in dealing with the events related to the COVID-19 public health emergency and further our efforts to promote home retention in our state,” said HMN President Shannon Chambers.
THOC offers features and access to information for Nevada homeowners on the steps that can occur prior to a default and potential participation in the Foreclosure Mediation Program if the homeowner is eligible. Homeowners that are currently in a forbearance related to COVID-19, not making payments, unable to make payments, or in other situations can receive information on what their options might be from a HUD certified counselor.
Should mortgage relief and home retention programs become available and implemented at both the state and federal level in the future, the THOC portal will connect homeowners to the programs for which they are eligible.
The Homeowner Connect portal is located at https://thehomeownerconnect.org/nevada and provides the following features and benefits:
¤ A free self-service portal to assist and provide information to homeowners and consumers and allow participating mortgage servicers to assist and interact with homeowners and consumers exchange documents through the portal
¤ On-demand assistance provided by Housing and Urban Development (HUD)-certified non-profit housing counselors
¤ Participating mortgage servicers agree to Standards of Conduct for responsiveness and transparency
¤ One-stop shop for homeowners and consumers to access and obtain information on mortgage terminology and potential mortgage assistance programs
¤ Proactively addresses potentially unlawful and predatory practices through the security of a state-sponsored portal
¤ An end-to-end audit trail of documented interactions and potential loan transfers between homeowners and mortgage servicers
About Home Means Nevada, Inc.
Home Means Nevada, Inc. (“HMN”), a state-affiliated nonprofit organization, was established for the development and execution of homeowner assistance to address the challenges and needs of distressed homeowners in Nevada. HMN oversees portions of the Nevada’s Foreclosure Mediation Program as established with the passage of Senate Bill 490 of the 2017 Nevada Legislative Session. HMN is governed by a board of directors. Shannon Chambers was appointed as the President of Home Means Nevada, Inc. in 2017 and has also served as the Nevada Labor Commissioner since 2014.
About IndiSoft, LLC
Columbia, Maryland-based IndiSoft LLC develops collaborative technology solutions for the financial services industry. Its RxOffice platform the core framework for The Homeowner Connect, provides advanced workflow management and rich data management tools that enhance risk-based assessment and help companies meet regulatory requirements. RxOffice provides efficient, reliable, and scalable solutions for companies, including mortgage servicers, investors, insurers, and law firms to name a few, that want to remain compliant, effectively manage workflow and maintain a competitive edge. Connect: www.indisoft.us | Twitter: @IndiSoftllc.
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Nevada Commercial Rental Assistance Grant Program to Start Taking Applications on August 24, 2020
Carson City, NV — Today, the State Treasurer’s Office and the Governor’s Office of Economic Development announced that small businesses and non-profits will be able to apply for State’s commercial rental assistance program beginning on August 24, 2020.
The Nevada Commercial Rental Assistance Grant (CRAG) Program is using $20 million of Coronavirus Relief Funds to assist businesses and non-profit organizations that have experienced significant revenue declines due to the COVID-19 pandemic.
The Program will provide up to $10,000 in grants to eligible commercial tenants, which are not required to be paid back.
Landlords whose tenants participate in the CRAG Program will receive payments directly and must agree not to commence eviction proceedings against the tenant for 90 days following the receipt of payment.
To be eligible for the Program, applicants must meet the following criteria:
Businesses are encouraged to visit the Governor’s Office of Economic Development website to learn more and to find the application when it goes live.
The Program will begin accepting applications on Monday, August 24, 2020 at 8:00 a.m. PST. The application period will be open for one week, and will close on Monday, August 31, 2020 at 5:00 p.m. PST.
Once the application period closes, applications will be prioritized to support disadvantaged businesses along with businesses and non-profits with the greatest revenue losses during the COVID-19 pandemic.
The State anticipates that approximately 2,000-3,000 businesses will receive rental assistance through this grant Program.
For questions about the CRAG Program businesses are encouraged to visit the Governor’s Office of Economic Development.
COVID-19 DISASTER RESPONSE
Nevada COVID-19 Response
The Cares Act assists eligible businesses looking for payroll support to keep Americans working. The Cares Act
Are you struggling to figure out which small business financing is appropriate for you?
The programs and initiatives in the Coronavirus Aide, and Relief and Economic Security (CARES) Act that was recently passed by Congress are intended to assist business owners with whatever needs they are experiencing right now. The Nevada Small Business Development Center (Nevada SBDC) is your First Call for Business Recovery! For immediate assistance regarding SBA Disaster Loan options and current labor laws, please visit us at www.nevadasbdc.org or call us at 800-240-7094.
Quick FACTS on CARES Act
The U.S. Small Business Administration (U.S. SBA) has increased efforts to alleviate the hardship experienced by small businesses by offering a number of loan options, the U.S. SBA Economic Injury Disaster Loan (EIDL), the Paycheck Protection Program (PPP), and the U.S. SBA Debt Relief Program.
• Economic Injury Disaster Loan – EIDL This is the primary loan offered by the U.S. SBA, and allows qualifying entities to borrow up to $2 million at 3.75% interest for small businesses and 2.75% interest for non-profit organizations with terms up to 30 years. All Nevada counties have been declared eligible for EIDL. This loan also allows small businesses the opportunity for a 10k quick cash infusion advance. The 10k advance can be distributed 1-3 days after the completion of the EIDL and does not need to be paid back. The business owner is allowed to keep these funds regardless of the approval of the EIDL. The loan funds may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. EIDL is not intended to replace lost sales or profits, or for expansion.
• Paycheck Protection Program – PPP The Paycheck Protection Program provides small businesses with one .50% interest loan to pay up to 8 weeks of payroll costs (100% federally guaranteed through SBA local lenders). Payroll costs include all costs of an employee: salary or wages, commissions, bonuses, health insurance, retirement contributions, local and state payroll taxes, but cannot be used to compensate anyone in excess of an annualized salary of $100k per year, those residing outside US, or if already getting reimbursed for paid sick/family leave under the act passed two weeks ago. PPP funds can also be used to pay interest on mortgages, utilities and rent. The maximum loan size is 250% of average monthly payroll. This loan will be forgiven if staff and payroll are maintained. At least 75% of the forgiven amount must have been used for payroll.
*Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. Early application is encouraged because there is a funding cap and lenders will need time to process loans.
• Small Business Debt Relief Program Under this program, the U.S. SBA will cover all payments on existing non-disaster U.S. SBA loans, including principal, interest and fees for six months. This relief will also be available to borrowers who take out U.S. SBA loans within six months of March 27th, 2020.
Updated Labor Information for Small Businesses
As of 04/01/2020, the U.S. Department of Labor is providing an exemption from the emergency paid leave provisions of the Families First Coronavirus Response Act (FFCRA) for small businesses.
What you need to know:
• “Employers with fewer than 50 employees may claim an exemption from the emergency paid leave provisions of the Families First Coronavirus Response Act (FFCRA), and the exemption applies specifically to leave taken for reasons of child care and school closures related to COVID-19, according to a U.S. Department of Labor (DOL) guidance updated March 28.
• Small businesses with fewer than 50 employees, including religious and nonprofit organizations, are exempt from two aspects of the FFCRA’s provisions — (1) paid sick leave due to school closure, place of care closure or child care provider unavailability for COVID-19 related reasons; and (2) emergency paid leave under the Family and Medical Leave Act (FMLA) — when doing so would jeopardize the viability of the business, DOL said. An "authorized officer" of the business must determine whether it meets this criteria, according to the guidance.
Beware of SCAMS!
Please be wary of scammers during this time. The U.S. SBA will NOT ask for money to complete a loan application and will NOT ask for personal information over email. All personal information is collected through U.S. SBA’s secure online portal. When in doubt, contact U.S. SBA’s Disaster Office for confirmation of any requests you receive.
U.S. SBA Disaster Office phone: 1-800-659-2955
U.S. SBA Disaster Office email: firstname.lastname@example.org
Notice: Lapse in Appropriations
SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding.
Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
Manufacturing Retooling Repurposing for PPE
The Governor’s Office of Economic Development (GOED) and the state-designated Regional Development Authorities (RDAs) are assisting the Nevada COVID-19 Response, Relief and Recovery Task Force to secure needed medical supplies for the State’s battle against the COVID-19. The purpose of this survey is to provide manufacturers with the opportunity to support our Silver State’s medical needs with production capabilities, inventory, and/or repurposing/retooling of manufacturing processes to produce Nevada-specific health care in-demand products for fighting COVID-19.
By Aimee PicchiUpdated on: April 1, 2020 / 9:34 PM / MoneyWatchThe Treasury Department said late Wednesday that Americans on Social Security will not be required to file a "simple tax return" to receive a stimulus check from the U.S. government. The announcement reversed an earlier statement from the Internal Revenue Service that participants in the federal retirement program would need to file such a return to get the funds. The IRS directive would have impacted about 15 million people, including millions of seniors on Social Security, who aren't required to file tax returns, according to Chuck Marr, senior director of federal tax policy for the Center on Budget and Policy Priorities. Seniors who rely on Social Security for their sole source of income don't have to file tax returns. The Treasury's reversal comes after lawmakers including Senators Maggie Hassan of New Hampshire and Sherrod Brown of Ohio, both Democrats, expressed alarm over the guidance, saying in a letter on Wednesday to the IRS and Treasury that it will "place a significant burden on retired seniors and individuals who experience disabilities."
The IRS's guidance on Monday sought to provide more details about what Americans need to know about receiving a government check to help ease the massive blow from the virus on the economy, but also created concern and confusion with its statement that some seniors would have to file the "simple tax return."
Home Means Nevada, Inc. (HMN), a state-affiliated nonprofit organization that administers certain functions of the Foreclosure Mediation Program, has launched a new, innovative tool for struggling Nevada homeowners as part of its ongoing COVID-19 response initiative.
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