Small businesses use funding to regroup from pandemic closures

Local News

LAS VEGAS (KLAS) — Small businesses are regrouping from months of closures, laying off employees and declining sales.

These are problems all too familiar for boutique owner Angela Rene, who specializes in fashions for curvy women.

“It was devastating, it really, really was,” Rene said. “So now we are able to regroup but it definitely was a struggle.”

During a recent “Monday’s with Monica” interview, Rene learned about money for entrepreneurs.

“You can get an SBA loan for working capital to acquire or expand a business and they will make your payments for the first three months or till the end of September or till the funds run out,” said Craig Kirkland of Nevada State Bank. “They are also waiving their traditional fees which can be as high as 2.7% of the loan amount.”

Information from the small business corporation can help owners make smart decisions.

“It’s important to network and connect with your local chambers to hear about things and resources that are made available to you,” Kirkland said. “To be out there networking, talking and learning. Invest in yourself by learning. There is a lot of information available online and through nonprofit resources.”

Right before pandemic restrictions, Rene moved into a new location in Fashion Show Mall near Louis Vuttion and Neiman Marcus.

As Las Vegas reopens, she looks forward to more foot traffic.

Rene plans to take advantage of the small business funding, saying it will give her peace of mind, preventing her boutique from failure.

“This type of funding would give me that security that I can have that nest egg for my business,” Rene said. “So, any unexpected challenges that come up I’d be able to secure my business and know that I’m stable.”

Kirkland says if you do not know what you qualify for, reach out to your local chamber of commerce.

If you are the owner of a small business in need of help, CLICK HERE.

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