SBA changes rules to make small gaming businesses eligible for stimulus
Nevada officials are applauding the Small Business Administration’s decision reversing itself to allow gaming small businesses access to Paycheck Protection Program loans.
Previously, the SBA refused to allow gaming businesses that receive a third or more of their revenue from gaming to access the funding.
“Nevada’s gaming small business community is a vital part of our state’s economy and they deserve the same access to federal aid as any other legal business,” said Senators Catherine Cortez Masto and Jacky Rosen, both D-Nev., in a statement.
The two earlier sent a letter to the SBA asking the agency to allow all small gaming businesses to access loans arguing that is clearly the intent of the stimulus legislation.
The decision was also hailed by the American Gaming Association. AGA President Bill Miller said he was pleased with the decision recognizing that commercial and tribal gaming businesses need help to get through the pandemic.