$2.55 million available in second round of Reno COVID grants program
RENO, Nev. — The city of Reno reopened the Small Business Economic Assistance Program — which doles out funds to local businesses impacted by the COVID-19 pandemic — today to applicants who did not receive funding in the first round.
According to an Oct. 6 press release from the city, the application period re-opened Oct. 13 and closes 5 p.m. Friday, Oct. 27, unless extended.
The program prioritizes small personal service businesses, with an emphasis on businesses that have had to close due to previous or current governor directives and declarations.
This program is funded by the city with funds received from the federal CARES Act. Awards will be a maximum of $20,000 and must be associated with costs related to the pandemic, such as PPE purchases; revenue reductions due to mandated closures or social-distancing requirements; and safety measures or “other expenses reasonably needed to maintain operations.”
To be eligible a business must at a minimum: have an active city of Reno business license; have 20 or less full-time equivalent employees; and “be committed to upholding all of the recommendations and/or comply with any mandates for reopening from the State of Nevada and/or the Washoe County Health District,” according to the city.
Some additional restrictions apply. For information, visit Reno.gov/COVID19.
Businesses that received financial assistance in the first round of funding earlier this year are not eligible.
According to the city, the first round amounted to $1.4 million in grants to 137 businesses, which will receive awards ranging from $870 to $20,000.
The next round of funding will total up to $2.55 million, based on demand and fund availability.
On Sept. 8, Reno startup Hibear launched a Kickstarter with a funding goal of $10,000. Within 45 minutes, the company surpassed it. Now, it’s up to almost $100,000 and more than 1,250 financial backers.