Henderson, Nev. – The state’s $4.1 million Capital Readiness Program, designed to boost small‑business growth across Southern Nevada, still has a large portion of its funds unclaimed as the deadline to spend the money draws near.
Local entrepreneurs struggle to find the money
Core Martial Arts owner Annie Kang‑Drachen, who has run her studio for 12 years, says learning how to tap state resources has felt like a “business boot camp.” She praised the program for teaching her the fundamentals of capital acquisition, but admitted many fellow entrepreneurs simply do not know the grants exist.
“I get to see the shyest kid come in… three years later, I’m looking at them like, is that the same girl that worked in the door?” Kang‑Drachen said, highlighting how her studio not only builds confidence but also serves as a stepping‑stone for future business owners.
Program details and remaining funds
According to program director Chris Shelton, the Capital Readiness Program offers reimbursable grants that must be spent by the end of next year or be forfeited. “Our whole model with the Capital Readiness program is startup, stay up and scale up,” he explained.
Shelton noted that only 26 businesses have participated so far, leaving millions of dollars still available. He urged more owners to apply, emphasizing that the money is free and intended to create jobs and strengthen the local economy.
Why the money sits idle
Many small‑business owners are unaware of the program’s existence. Shelton described his outreach efforts as a “drowning” of information, hoping to flood the market with the news that “we have so much money to give away, and it’s free. Why would you not take advantage of this?”
For Kang‑Drachen, the grant represented both opportunity and responsibility. “Scary, because now you’re responsible, not only for your membership base, right? But now you’re responsible for employees, right? But it’s also very exciting,” she said.
Impact on the community
When small businesses expand, they create jobs and train the next generation of entrepreneurs. Kang‑Drachen is already mentoring employees with the goal of helping them eventually open their own operations, a move that could further amplify the program’s ripple effect throughout Southern Nevada.
Local officials and economic development leaders continue to promote the Capital Readiness Program as a key tool for revitalizing the region’s economy, especially as the state seeks to diversify beyond tourism and gaming.
How to apply
Business owners interested in the grant can contact the Nevada Department of Economic Development or visit the program’s website for application guidelines. The deadline for spending the allocated funds is the end of next year, after which any unspent dollars will be returned to the state treasury.
With the deadline looming, the message from state officials is clear: small‑business owners should act now to secure the funding that could power the next wave of growth in Southern Nevada.
Original reporting: News 3 KSNV Las Vegas (local) — read the source article.
