NORTH LAS VEGAS (KLAS) — Native companies are persevering with to wrestle due to the COVID-19 pandemic, however assistance is on the market.
That assist consists of the North Las Vegas Small Enterprise Stabilization Forgivable Mortgage Program, which has loads of funds nonetheless out there. With this particular aid grant, small companies in North Las Vegas can stand up to $25,000.
8 Information Now spoke to at least one enterprise who says it has been an enormous assist.
John Wickett is difficult at work. He’s a managing member of the North Las Vegas-based subcontracting enterprise Excessive Sierra Insulation, and their group is placing insulation on the roof of an enormous warehouse proper now.
“We simply began this,” Wickett stated.
However for months, COVID halted building tasks, inflicting income to drop by almost $100,000.
“That’s put us right into a scenario the place we’ve been money poor,” Wickett shared.
Fortunately, issues are turning a nook. Wickett says his firm bought $25,000 in CARES Act funding from the Metropolis of North Las Vegas and Prestamos, a neighborhood improvement monetary establishment, by the North Las Vegas Small Enterprise Stabilization Forgivable Mortgage Program.
Wickett says the cash helps pay for a lot of necessities.
“Truck funds, insurance coverage funds, tools, issues like that, that we want with the intention to function every day,” he famous.
Prestamos Vice President Teresa Miranda says this system has helped greater than 60 companies since July. She is encouraging eligible companies to use, particularly as a result of she says there may be nonetheless round $400,000 left in out there funds.
“We positively need to welcome individuals to come back to us,” Miranda stated.
There’s a forgiveness interval for the loans — and this system helps companies with advertising and marketing and operations, which might be difficult within the age of the coronavirus.
“The entire intent of this system will not be solely to supply the capital, but in addition for us to work with them by this pandemic,” Miranda famous.
As Wickett continues his work, due to the grant, he needs others to get the identical help he and his firm obtained.
“It positively helped us, and I really feel prefer it might assist any enterprise proprietor,” Wickett stated.
With a purpose to qualify for the funding, you should:
– Show that your enterprise was impacted by the COVID-19 pandemic
– Present that your enterprise had a 30 p.c loss in income
– And, submit documentation that your enterprise is positioned inside the Metropolis of North Las Vegas.
For extra data and to start the applying course of, click here.