Relief program for Nevada small businesses picks up funding

A state program that provides COVID-19 relief funds to small businesses and nonprofits got another funding boost Tuesday.

The Board of Examiners, a panel comprising Gov. Steve Sisolak, Attorney General Aaron Ford and Secretary of State Barbara Cegavske, on Tuesday approved putting an additional $31 million in federal COVID-19 relief funds into the Pandemic Emergency Technical Support Grant, bringing the total funding to $51 million available to eligible small businesses and nonprofits.

The governor’s office previously had announced $20 million in additional funds.

The program uses federal money from the CARES Act administered through the state treasurer’s office, the Governor’s Office of Economic Development and the Department of Business and Industry. Nevada received about $836 million from the CARES Act, which was passed in March.

The state has approved about $30 million worth of funding, Treasurer Zach Conine said in an interview Tuesday, adding that the state is continuing to look for more companies that can receive the grant dollars.

Conine said the program has been “by far” the state’s most effective in getting the relief dollars into the hands of businesses and in terms of the application process.

The new money should help hundreds of small businesses and nonprofits, if not more, Conine said. But as long as the pandemic continues to affect the economy, there will always be a need for more money, and he said he hopes Congress approves additional relief dollars for states.

“There is infinite need and finite resources, but we’re doing our best to get that money out to the businesses that need it,” Conine said. “I just wish we had more from the federal government so we could help everyone.”