The Nevada Small Business Development Center has released annual client-verified economic outcomes for the 2020 federal fiscal year. Having assisted 2,855 clients with $45.4 million in capital, and helping 159 start businesses, the organization, shared that the total jobs supported and created totaled 11,049 – all during a global pandemic that rocked the landscape of small businesses.
As part of the technical services provided above, the Nevada SBDC assisted 1,341 clients with COVID-19 disaster-related counseling and training, and helped secure $22.8 million in disaster-related capital funding from sources like the Small Business Administration’s Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) from March through September, 2020.
That capital funding was instrumental in helping to support and sustain 10,124 Nevada jobs through the worst economic downturn in the state’s 156-year history. Small businesses account for 98% of all businesses in Nevada, and support approximately half of all jobs.
In addition to helping businesses secure financial assistance, the Nevada SBDC also compiled a ‘Business Resiliency Toolkit’, a list of federal, state, and regional resources and 21 industry-specific tip sheets to guide small businesses through the rules and guidelines that changed throughout the pandemic. The Nevada SBDC’s Business Environmental Program helped create 23 industry-specific “Re-opening" tip-sheets. Nevada SBDC also assisted the Governor’s Task Force and Business Emergency Operations Council distribute 4,000 free “Stay Safe, Stay Open” masks to small businesses throughout Nevada, reducing personal protective equipment costs and helping to keep small businesses functioning.
The Nevada SBDC, founded in 1985, has 14 offices across the state and assists Nevada entrepreneurs with starting, growing, or closing their business. Request no-cost, confidential business advising on the Nevada SBDC website, or call 1-800-240-7094.