Nevada’s small businesses and nonprofits can now apply for rental assistance much like the state’s residents have. The Nevada Commercial Rental Assistance Grant (CRAG) Program has made $20 million of Coronavirus Relief Funds available for those organizations that have seen their revenues decline due to the COVID-19 pandemic.
The State Treasurer’s Office and the Governor’s Office of Economic Development announced the program today and said it will officially launch Aug. 24. They estimate the funding will cover rental assistance for 2,000 to 3,000 businesses.
Grants up to $10,000 will be provided to eligible commercial tenants, paid directly to landlords, and are not required to be paid back. Landlords receiving funds from the CRAG program must agree not to commence eviction proceedings against the tenant for 90 days following the receipt of payment.
To be eligible for the Program, applicants must meet the following criteria:
- Be a licensed for-profit business or a non-profit organization with Nevada as its principal place of business.
- Have 50 or fewer full-time employees.
- Have been in operation for at least six months prior to March 1, 2020.
- Demonstrate at least a 30 percent loss of gross monthly revenue after March 1, 2020 as a direct result of COVID-19.
- Have a physical commercial location with a current, active lease on commercial property in Nevada.
- Must not have previously received more than $5,000 in funds from the Paycheck Protection Program or other COVID-19 rental assistance programs.
- Must not have any outstanding tax liens.
The Program will begin accepting applications on Monday, Aug. 24, 2020 at 8 a.m. PST. The application period will be open for one week, and will close on Monday, Aug. 31, 2020 at 5 p.m. PST.
According to a statement from the Treasurer’s Office, applications will be prioritized to support disadvantaged businesses along with businesses and nonprofits with the greatest revenue losses during the COVID-19 pandemic.
For questions about the CRAG Program or to find the application for when the system launches, visit the Governor’s Office of Economic Development website.
