Treasury Awards $4M to Nevada for Small Business Growth and Hiring

11 Sep, 2024

Treasury Awards $4M to Nevada for Small Business Growth and Hiring

The U.S. Department of the Treasury has awarded more than $4 million to Nevada through the State Small Business Credit Initiative (SSBCI) to help small businesses in key sectors grow and hire. This funding, part of the Biden-Harris Administration's economic agenda, aims to connect underserved and very small businesses to critical financing for industries like electric vehicle manufacturing, semiconductor production, clean energy, and construction.

By partnering with the Nevada Small Business Development Center, Nevada's Governor’s Office of Economic Development will provide technical assistance to high-growth potential companies and Main Street businesses. These services will support rural, tribal, and startup businesses, enabling them to access legal and financial advisory services needed for loan applications. The funding also focuses on expanding Nevada’s clean energy and advanced manufacturing sectors, which are key to the state’s economic future.

Nevada’s inclusion in this initiative will help create jobs and fuel growth in critical industries, positioning the state as a leader in the clean energy economy. This award reflects the commitment to building an inclusive economy that supports entrepreneurship and promotes sustainable growth throughout Nevada.