Businesses who can’t make their rent payments due to the Covid-19 pandemic – Here’s a good way to do it..
Applications for the CRAG Program will open on Monday, August 24 at 8am PST
About the Grant
Funding of up to $10,000 may be available to cover lease payments that have or will become due during the COVID-19 Pandemic. Applicants are not required to be in arrears on rent. Eligible businesses and non-profits entities that have prioritized paying rent over other expenses during the COVID-19 Pandemic are encouraged to apply.
Fund awards will be based on actual cost of rent and any applicable charges due under a lease (not to include payments for property taxes and utility payments), as well as the percentage of lost revenue as a result of the COVID-19 Pandemic.
Payments will be made directly to a landlord or leasing company to cover payments due under a commercial lease. Applicants are encouraged to talk with their landlords early in the process to confirm their willingness to participate.
The CRAG Program will be administered through the State’s vendor, National Development Council (NDC).
Grant application will be accepted from August 24th to August 31st, 2020. After the application period is closed, NDC will review applications and contact eligible applicants.
To view detailed information about Commercial Rental Assistance Program (CRAG), click here
To qualify for the CRAG Program, an Applicant must meet ALL of the following criteria:
• Be a for-profit business or a non-profit organization with Nevada as its principal place of business;
• Must have all required State and local business licenses (all must be active and in good standing);
• Be in operation with 50 or fewer full-time employees;
• Have been in operation in Nevada for at least 6-months prior to March 1, 2020;
• Demonstrate at least a 30% loss of gross monthly revenue after March 1, 2020 as a direct result of the COVID-19 pandemic;
• Have a physical commercial location (no home-based businesses) with a current, active lease on commercial property in the state of Nevada;
• Must not have previously received more than $5,000 in cumulative COVID-19 gift or grant funds on that could have been used to cover rental payments (such as from the Clark County Small Business Rental Assistance Grant or the Paycheck Protection Program); and
• Must not have any outstanding federal, state or county tax liens.
Businesses illegal under federal law and home-based businesses are not eligible to receive CRAG funding.
Required Information and Documentation
All applicants will be required to verify their eligibility for CRAG through the following documents:
• Current lease/rental agreement;
• Documentation of most recent lease/rental payment;
• Landlord contact information;
• Landlord Acknowledgement (must be notarized);
• W-9 Request for taxpayer Identification Number and Certification Copy of active business license(s) OR certificate of Incorporation in Nevada as nonprofit- 501(c)(3), or 501(c)(7);
• Nevada State Business License and copies of all local licenses;
• W-2 or payroll schedule;
• Partnership agreement / Articles of Incorporation or other relevant organization documents
• Hardship Statement (including 2020 financials):
o Summary of business operations prior to C0VID-19 and impact of COVID-19 pandemic on business operations, including 2020 financials
o Profit & Loss statement for 4-week period within 12 months of application date (period will determine baseline for revenue loss calculation)
o Profit & Loss statement for the 4-week period of revenue loss (after March 1, 2020)
• Copy of photo I.D.
• Certification of Funding Source
• Certification of Prioritization Eligibility (if applicable)
• Any other required documents to facilitate funding
Grant applications will be accepted on August 24th at 8am PST and closed on August 31st at 5pm PST. After the application period closes, State vendor NDC will begin reaching out to applicants that have successfully completed the application. Applicants will be required to provide NDC with documents within 1 week (7 days) of NDC’s initial contact requesting documents. NDC will review applications in order of priority as described below.
After receiving of all required documents, applicants will be notified if they’ve been approved or denied. Once an applicant is deemed eligible and approved for funding, NDC will contact applicant landlord directly to verify information, sign grant agreement and send payment.
The CRAG Program will make payments directly to a landlord. Applicants are encouraged to talk with their landlords early in the process to confirm their willingness to participate. By participating in the CRAG Program, landlords must agree to hold off on commencing eviction proceedings for 90-days following receipt of grant funds or, as applicable, cancel any pending evictions against applicant.
Program staff will contact landlords directly for the following documents after tenant eligibility is verified:
• ACH Direct Deposit Form
• Landlord Grant Agreement
• Any other required documents to facilitate funding
Prioritization of Applications:
To the extent funding is available, completed applications will be prioritized in the following order:
• Disadvantaged Business Enterprises*, or non-profit entities who have lost 50% or more in revenues from previous year;
• Business who have lost 50% or more in revenues from previous year;
• Disadvantaged Business Enterprises, or non-profit entities who have lost less than 50%, but more than 40% in revenues from previous year;
• Business who have lost less than 50% but more than 40% in revenues from previous year;
• Disadvantaged Business Enterprises, or non-profit entities who have lost between 40% and 30% in revenues from previous year;
• Business who have lost between 40% and 30% in revenues from previous year.
*To view definition of Disadvantaged Business Enterprise click here.
APPLY FOR GRANT
Before you apply for the Commercial Rental Assistance Grant (CRAG) make sure that you read all of the eligibility requirements and grant information. A request for a grant is not a guarantee of funding.
Link for the application will be available on August 24th, at 8 am PDT.