Everything you need to know about relocating whether personal or starting a new business:

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SBA Loan Information


SBA Loan Information and Resources Page

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Assistance for Small Businesses

Assistance for American Workers and Families

Paid Leave Tax Credits

Employee Retention Tax Credit

Federal Reserve lending and liquidity for mid-sized organizations

Additional Resources

Unemployment Insurance

Pretamos Rolls out Spanish Webinars

Resources from the U.S. Chamber

Chamber Member Bank Information

 

 

 

SBA Announces Registration for National Small Business Week Virtual Conference September 22-24 (HERE)

As part of National Small Business Week, the U.S. Small Business Administration and cosponsors will host all virtual events September 22-24, 2020. This year’s National Small Business Week activities will include numerous educational panels providing retooling and innovative practices for entrepreneurs as our nation’s small businesses look to pivot and recover, contributing to a stronger economy. The event will recognize the national award winners, including the naming of the National Small Business Person of the Year.

 

New SBA Web Tool Helps with Market Research (HERE)

Small business owners and start-ups across the country can now take advantage of a new business tool to help them compete and grow. The free tool, called SizeUp, helps businesses identify new customers and compare their performance against other businesses in their industry with data collected from hundreds of private and public sources. 

Assistance for Small Businesses

Paycheck Protection Program (PPP):

The Paycheck Protection Program established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury.  The Paycheck Protection Program is providing small businesses with the resources they need to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead. On June 6, 2020, President Trump signed legislation providing more flexibility and relief for small businesses, including extending the covered period for loan forgiveness from 8 weeks after the date of loan disbursement to 24 weeks and lowering the requirements that 75% of a borrower’s loan proceeds must be used for payroll costs to 60%. More information can be found below:

Current law dictates that the Paycheck Protection Program (PPP) close at the end of August 8, 2020. As such, SBA is no longer accepting PPP applications from participating lenders.

Economic Injury Disaster Loans & Advance Program: In response to the Coronavirus (COVID-19) pandemic, small business owners and non-profit organizations in all U.S. states, Washington D.C., and territories are able to apply for an Economic Injury Disaster Loan (EIDL).  EIDL is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation to health care benefits, rent, utilities, and fixed debt payments.

SBA Express Bridge Loans: Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

SBA Debt Relief: As part of our coronavirus debt relief efforts, the SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans. More information can be found below:

 

Nevada Cares Act Overview Link

 

Assistance for American Workers and Families

American Workforce Policy Advisory Board – Call to Action: The American Workforce Policy Advisory Board has released a call-to-action to help the millions of workers who need assistance now, and build the resilient and agile workforce of the future powered by skilled American workers. Specific actions:

  • Expedite American workers’ return to employment and upward mobility by investing in career pathways and implementing skills-based hiring practices.
  • Remove obstacles to the modernization of American education and training to accelerate reskilling and facilitate innovation in workforce development.
  • Build the technological infrastructure necessary for the future of work.

Economic Impact Payments: The CARES Act provides for Economic Impact Payments to American households of up to $1,200 per adult for individuals whose income was less than $99,000 ( or $198,000 for joint filers) and $500 per child under 17 years old – or up to $3,400 for a family of four. More information can be found here.

Preserving Jobs for American Industry: The CARES Act offers meaningful financial support to American businesses and job creators so they can better support employees and be prepared to get back to business as soon as possible. More information can be found here.

Supporting Child Care: The CARES Act provided an additional $3.5 billion to the Child Care and Development Block Grant to support families with child care options during this public health crisis. Additional information and State-level information can be found here.

Dislocated Worker Grants: The U.S. Department of Labor is providing Dislocated Worker Grants to prevent, prepare for and respond to COVID-19. State-by-State data and additional details can be found here.

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Paid Leave Tax Credits

  • Employers with 500 or less employees are required to offer paid sick leave at the regular wage rate for instances where the employee is ill due to COVID-19 and at 2/3rds the wage rate for employees who must care for a family member due to COVID-19 including school and child care closures. Employers with 50 or less employees may be eligible for a waiver due to hardship.  These employers are eligible to receive a tax credit to cover the costs of the paid sick leave. For detailed information on accessing the tax credit and utilizing liquidity and deferment programs through the IRS in relationship to the credit please CLICK HERE

 

Employee Retention Tax Credit

  • The Treasury has issued a refundable tax credit of up to 50% of $10,000 in wages for all employers continuing to pay employees through the COVID-19 pandemic. Those receiving small business loans will not be eligible for this tax credit.
    For more information on eligibility CLICK HERE
    For more information on accessing the credit CLICK HERE

 

Federal Reserve lending and liquidity for mid-sized organizations

  • The Treasury will be creating a new fund in partnership with federally insured lenders which will be available to entities with between 500 and 10,000 employees. More information on this fund will be coming from the Treasury by April 6.

 

Additional Resources

  • The COVID-19 stimulus plan is still ongoing. More programs and financial assistance could become available on a daily basis. The above resources are by no means the limit to what may be available to your organizations and your employees. 
  • The best resource for keeping up-to-date on available financial assistance is through the Department of Treasury. CLICK HERE


Unemployment Insurance

  • There will be an additional $600 per week for unemployment checks available immediately. Each state administers unemployment in its own way. 
    • To find information on contacting your state unemployment office CLICK HERE 
    • For frequently asked questions on this issue – see the House Ways and Means FAQ page: CLICK HERE

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Pretamos Rolls out Spanish Webinars and COVID-19 Resources for Businesses

 

Resources from the U.S. Chamber 

www.uschamber.com/coronavirus

 

The U.S. Chamber continues to create, update, and evolve its various guides and resources to continue bringing you and your members the information you need during this difficult time. We encourage you to continue utilizing and sharing the following items as you see fit:

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Carson City Chamber Member Financial Instutitions: 

 

Bank of the West

phone: 775-687-2550

2976 N Carson Street

www.bankofthewest.com

Offering SBA Loans: Yes

Lobby: Monday - Friday 9:30 am - 4:00 pm

Drive-Up: Monday - Friday 9:30 am - 4:00 pm

 

 

City National Bank

phone: 775-885-1221

1811 E. College Parkway

www.cnb.com

Offering SBA Loans: Yes (*existing clients only at this time)

Lobby: Monday – Friday 10 am – 3 pm

Drive up: Monday – Friday 9 am – 5 pm

 

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First Independent Bank

phone: 775-682-4747

1818 E. College Parkway, Suite 100

www.firstindependentnv.com

Offering SBA Loans: Yes 

Lobby: Closed

Drive Up: Monday – Thursday 8:30 am – 5 pm; Friday 8:30 am - 5:30 pm

 

 

Greater Nevada Credit Union-Eagle Station

phone: 775-882-2060

The Greater Commercial Lending SBA PPP hotline number is (775) 886-1966

481 Eagle Station

www.gncu.org/Greater-Commercial-Lending/SBA-Paycheck-Protection-Program

Offering SBA Loans: Yes

Lobby: Monday - Friday: 10 am – 4 pm

 

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Greater Nevada Credit Union- N. Carson St

phone: 775-882-2060

 The Greater Commercial Lending SBA PPP hotline number is (775) 886-1966

4131 N. Carson St.

www.gncu.org/Greater-Commercial-Lending/SBA-Paycheck-Protection-Program

Offering SBA Loans: Yes

Lobby: Monday - Friday 10 am – 4 pm

Drive up: Monday - Friday: 10 am – 4 pm

 

 

Heritage Bank of Nevada

phone: 775-881-1111

4222 S. Carson St.

www.heritagebanknevada.com

Offering SBA Loans: Yes (*existing clients only at this time)

Lobby by Appointment Only

Drive up: Monday – Thursday 8:30 am – 5 pm; Friday 8:30 am – 6 pm

 

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Nevada, Inc. Pretamos CDFI, a wholly owned subsidiary of CPLC, Nevada, Inc

phone: 775-350-7780 

Edward Vento - Business Development Officer -  Direct Line: (775) 300-6193 

1050 E. William St. Ste. 402

Carson City NV, 89701

http://cplcnevada.org/Programs/EconomicDev

 

 

Nevada State Bank - South Carson Branch

phone: 775-687-1707

4267 S Carson St

www.nsbank.com

Offering SBA Loans: Yes - available to fund PPP loans.

Lobby by appointment only  

Drive Up Hours Monday – Friday 10 am - 4 pm; Saturday 10 am – 2 pm

 

 

Nevada State Bank Business Center

phone: 775-884-5500

1525 College Parkway

www.nsbank.com

Offering SBA Loans: Yes - available to fund PPP loans.

Lobby by appointment only 

Drive Up Hours Monday – Friday 10 am - 4 pm

 

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Plumas Bank

phone: 775-885-1200

1101 N. Carson St.

www.plumasbank.com

Offering SBA Loans: Yes

Lobby by appointment only

Drive up Hours Monday - Friday 9 am – 5 pm

 

 

United Federal Credit Union - Carson Branch

phone: 775-329-6673 x 6030

1350 E. Williams St.

Unitedfcu.com

Offering SBA Loans: Yes (*existing clients only at this time)

Lobby by appointment only

Drive up hours Monday - Friday 8:30 am – 6 pm; Saturday 9 am – 1 pm

 

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Wells Fargo - East Carson

phone: 775-885-1145

1550 E. Williams St.

https://update.wf.com/coronavirus/paycheckprotectionprogram/

Offering SBA Loans: No longer accept new loan applications under the government's Paycheck Protection Program

Lobby limited teller transactions available, and bankers by appointment

Drive up Monday - Friday 9:30 am - 4:00 pm; Saturday 9:00 am – 12 pm

 

 

Wells Fargo - Main

phone: 775-886-4240

2424 S. Carson St.

https://update.wf.com/coronavirus/paycheckprotectionprogram/

Offering SBA Loans: No longer accept new loan applications under the government's Paycheck Protection Program

Drive up only Monday - Friday 9:30 am - 4:00 pm; Saturday 9:00 am – 12 pm

 

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