Access to Capital Event

 

The Capital Connections Access To Capital event is aimed at connecting small business owners with investors, lenders, business counselors, and resources. This event will include a panel on available resources for small businesses, and three breakout sessions on traditional & non-traditional lending, creditworthiness, crowdfunding, and angel & equity investments. There will also be a networking portion where small business owners can meet one-on-one with accountants, bankers, business counselors, and other business professionals to make initial connections that may lead to funding.

To register for this event, please visit the link here.

 

Battle Born Growth Microloan Program

The microloan program provides simple and affordable loans, up to $250k, to small businesses across Nevada. Applicants will be matched with lenders who meet their needs and who are able to serve their small businesses. Additionally, a dedicated Technical Assistance Program provided in partnership with the Nevada Small Business Development Center (SBDC) will be available to assist with credit counseling, financial statements, general business guidance, and many other requested services.

WHO THE PROGRAM IS FOR

This program is not a grant. These are competively priced loans and will need to be paid back in full with interest. The program is open to all Nevada small businesses with 100 or fewer full-time employees and less than $5 million in annual revenue. Credit and eligibility restrictions will apply, however the preapplication is a no cost and no obligation opportunity for all business owners to see if they are a fit for one of the lenders in the program.

The main focus of this program is to reach small businesses across the state. Our nonprofit lending partners have a long history of serving minority and women owned businesses along with businesses in rural communities so we encourage all eligible business owners to apply. The program is backed by the federal State Small Business Credit Initiative (SSBCI), a federal program designed to support small businesses.

 

HOW IT WORKS

The program’s platform matches borrowers with Nevada lenders offering loans of up to $250k. The program works with mission-driven lenders that provide funding across Nevada, called community development financial institutions (CDFIs), to aid small businesses. We will have lenders who serve all types of businesses in all corners of the state. Business owners will fill out the simple pre-application form, match with a provider, and work directly with that lender to assess loan readiness and creditworthiness. The program also provides access to free business support resources for interested business owners.

Visit the website here for more information.

Taxpayers and tax pros should learn about these common tax scams

While scammers work hard during tax season to try to steal money, personal information and data, they also stay busy the rest of the year. Taxpayers and tax professionals should remain alert and aware of these common scams, schemes and cons to avoid losing money, personal information or client data.

Social media: Fraudulent form filing and bad advice
Social media can circulate inaccurate or misleading tax information, and the IRS has recently seen schemes that encourage people to submit false, inaccurate information in hopes of getting a refund or taking advantage of a credit, such as the Employee Retention Credit. Taxpayers should always remember that if something sounds too good to be true, it probably is.

Online Account help from third-party scammers
Swindlers pose as a “helpful” third party and offer to help create a taxpayer’s IRS Online Account at IRS.gov. The scammers making these offers are trying to steal a taxpayer’s personal information. Taxpayers should access their account directly through IRS.gov.

Phishing and spearphishing
Taxpayers and tax professionals should be alert to fake communications posing as legitimate organizations in the tax and financial community, including the IRS and the states. These messages arrive in the form of an unsolicited text or email to lure victims into providing valuable personal and financial information that can lead to identity theft.

Spearphishing is a tailored phishing attempt targeting a specific organization or business. Tax professionals need to be very careful about spearphishing because of the risk of a data breach. A successful spearphishing attack can ultimately steal client data and the tax preparer’s identity, allowing the thief to file fraudulent returns.

Unscrupulous tax return preparers
Most tax preparers provide outstanding and professional service. However, people should be careful of shady tax professionals and watch for common warning signs, including charging a fee based on the size of the refund. A major red flag or bad sign is when the tax preparer is unwilling to sign the dotted line. Avoid these “ghost” preparers, who will prepare a tax return but refuse to sign or include their IRS Preparer Tax Identification Number as required by law. Taxpayers should never sign a blank or incomplete return.

Offer in compromise mills
Offers in compromise are an important program to help people who can’t pay to settle their federal tax debts. But “offer in compromise mills” can aggressively promote offers in compromise in misleading ways to people who clearly don’t meet the qualifications, often costing taxpayers thousands of dollars. A taxpayer can check their eligibility for free using the IRS Offer in Compromise Pre-Qualifier tool.

LV Baking Company Brings The Freshest Bread in the Vegas Valley

Have you ever taken the time to notice that 95% of all bread you eat in Vegas has preservatives? It’s true. Most have processed sugar, bleached flour and aren’t all made fresh
daily.

LV Baking Company is one of the few bakeries in the entire Vegas Valley that proves this statement wrong. They offer bread with no preservatives, no bleached flour and is baked fresh
on site everyday. For more than 15 years, they have been baking fresh, natural bread in the heart of ChinaTown, not only providing warm pastries, but also incredible traditional and custom
cakes, award winning chocolates (they won best chocolatier 3 years in a row) and more. With a retail store that allows residents to taste their offerings straight out of the oven, and a wholesale branch that provides their baked goods to casinos on the Vegas Strip including MGM Grand, Aria, Mandalay Bay, Mirage, The Venetian and the Wynn, more people are getting a feel of what real fresh bread tastes like.

 

Originally known as “L’elysee Bakery,” Chef Cory Baker bought the bakery in 2019, renaming the bakery “Las Vegas Baking Company” and never imagining what was to come when a global
pandemic hit shortly after. Their savory and valuable offerings to Vegas residents helped them stay afloat during the pandemic and after 3 years, they are now finally entering the era of growth as more people venture out for quality goods.

NV Grow forms part of their growth by serving as Clark County Technical and Economic Assistance Program (TEAP) subject matter experts providing paid-for consultants and a financial advisor that will not only help them reach a new level of success but also help more Vegas residents find this gem of a bakery that leaves you never going back to old, processed bread.

Located at 3431 S. Jones Blvd #110, Las Vegas, Nevada 89146, Las Vegas Baking Company and their fresh bread and chocolates are really worth the drive.

SSBCI Venture Capital Program Seeks Institutional Co-Investors

GOED launches Venture Capital Program strengthening capital access for local startups

CARSON CITY, Nev. Nevada is seeking to attract additional venture and seed capital from institutional investors, such as Special Purpose Vehicles (SPVs), to invest alongside Battle Born Growth Venture’s deals. This new Venture Capital Program is now operating under the federal State Small Business Credit Initiative (SSBCI) program and overseen by the Governor’s Office of Economic Development (GOED).

“The SSBCI Program provides Nevada with the opportunity to attract substantially more local and out-of-state investment capital that will strengthen our startup businesses and Nevada startup founders are highly encouraged to apply,” said Governor Joe Lombardo.

Battle Born Growth Venture utilizes a unique application process which will result in a higher-level investment in minority entrepreneurs than with standard Venture Capital.

“We are taking advantage of data captured over the past decade to inform this process” said Nicola Kerslake who founded Newbean Capital, a female owned Reno-based registered investment advisor that has performed the role as the SSBCI program’s investment manager since inception of the predecessor program in 2014. “Our current investment portfolio shows that half of funds have gone to minority or women-led startups, so the process is working, and we are particularly seeking applications from startups of traditionally disadvantaged and underserved communities.”

As with all other SSBCI programs, the Battle Born Growth Venture also requires private sector co-investments.

“We strongly encourage any institutional seed and venture capital fund to reach out to us to explore co-investment options,” said Karsten Heise Senior Director of Strategic Programs and Innovation at the Nevada Governor’s Office of Economic Development. “One major objective of this program is to put Nevada startups on the map and spur investment fund interests from out-of-state thereby attracting vital seed and venture capital to Nevada to strengthen our local startup ecosystems. Key to the success of this program will be getting capital to Nevada startups from nationally operating institutional seed- and venture capital funds.”

Last October, Nevada’s SSBCI Program application was approved for up to $112.9 million and Nevada has received its initial tranche. GOED acts as program manager and oversees a total of five component programs. Initially, Battle Born Growth Venture has been allocated a total of $36 million.

Unlike traditional venture capital funds, any Nevada startup can apply through the program’s website at battlebornventure.com. Interested applicants are further encouraged to confirm that they will meet the program’s criteria by visiting battlebornventure.com/are-we-a-fit.

One additional feature of the venture capital program’s structure is the partnership with two Nevada accelerators for deal-flow generation. Battle Born Growth Venture co-invests in cohort startups of nationally ranked gener8tor and local Nevada StartUpNV. So far, the program has co-invested with gener8tor in cohort companies Loop Software, Vistro, GrantCycle (formerly Atlas Solutions), Clotheslyne, Prosper and Sage Medical as well as with StartUpNV’s SeeID, Let’s Rolo, Revonate, and Terbine.

“The first gener8tor cohort last fall has proven to be a big success,” said Jared Byer, Managing Director of gener8tor’s Reno-Tahoe accelerator. “Two of our companies reached their fundraising goals within a couple of months after the program ended and a third should be finalized by April. The funds will be used to scale their businesses operations in Nevada, hire additional staff and open more locations in the state.”

The upcoming cohort programs will take place this fall in both Reno and Las Vegas, and any startup company is encouraged to apply. Reno is currently accepting applications via its website www.gener8tor.com/investment-accelerators/reno-tahoe.

“StartUpNV saw great potential with these four companies, so we were excited to support them with co-investing alongside SSBCI, a program that no doubt will significantly enhance our state’s ability to grow our startup ecosystem and enable entrepreneurs to achieve their goals,” said Jeff Saling, executive director of StartUpNV.

StartUpNV is operating an ongoing non-cohort-based accelerator via its website https://startupnv.org/.

About the Governor’s Office of Economic Development

Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development.

About the State Small Business Credit Initiative

On March 11, 2021, President Biden signed The American Rescue Plan Act, which reauthorized and funded the State Small Business Credit Initiative (SSBCI). The new version of the SSBCI program provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic. The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. The Governor’s Office of Economic Development (GOED) oversees the Nevada SSBCI Program. It is operated by Nevada Battle Born Growth Escalator, Inc. a corporation for public benefit and 501(c)(3) non-profit created by GOED in 2016.

CSN Blackstone LaunchPad Entrepreneurship Center Launches Monthly Education Series

Starting in March of 2023 community education takes centerstage at the College of Southern Nevada Blackstone Launchpad Entrepreneurship Center. This center is where a number of free educational workshops are now being offered for anyone in the community.

The first class was taught by Patranya Bhoolsuwan, a 3-time Emmy Award winning journalist and founder of media consulting agency, Patranya Media LLC. Her class “Media Training 101” is a 2-hour workshop that covers the following a variety of topics from understanding the media industry to public speaking coaching and storytelling tips for businesses and nonprofits. Registration to this class was full and attendees represent a wide variety of professionals including small business owners, registered nurse, nonprofit leaders, realtors and communications officers from The Regional Transportation Commission of Southern Nevada (RTC)

“Working as a journalist for many years, I know the importance of effective communication skills,” said Bhoolsuwan. “Now that I run my own media consulting agency, I help my clients tell their stories in a clear and compelling way. I am thankful that the CSN Blackstone LaunchPad Entrepreneurship Center is making this learning opportunity available for the community”.

Here are some of the testimonials from the students who attended the first media training class:

“Thank you so much for teaching us the basics of media interviews. I truly need help in speaking in front of a group, organization and of course media interviews. With my new position, I will need to prepare a speech and that is also hard for me to put together, but in time like you said preparation, research and the more you get up and speak, it gets easier”.

  • Sally Balecha, NaFFAA Desert Mountain Region President

“Content of the class was perfect. I learned more than I expected. It was very informative and worth coming to”.

  • Boyzie Milner, Owner Buldogis Gourmet Hot Dogs

“The length of the class was perfect. It was great to meet classmates from different business fields. Thanks again”.

  • Mi Sun Han, Owner Buldogis Gourmet Hot Dogs

“I love how we covered many different topics in a short amount of time. As a realtor, I needed to practice speaking in public and using the media to promote my listings. I learned a lot in this class, especially in better understanding how the media works”.

  • Celina Go, Realtor

This educational initiative is also powered by the College of Southern Nevada (CSN) and Blackstone LaunchPad. CSN’s Blackstone LaunchPad group fosters a culture of innovative entrepreneurship within the Las Vegas Community by developing events and programs that help a diverse student population acquire the expertise necessary to create and sustain a successful business.

Floral Architect, Mylo Lopez, Launches Refugee Resettlement Non-Profit, Land to Land

 

When renown floral architect Mylo Lopez received a call from a friend in Russia asking for help as they were preparing to flee the country due to the war, she knew that there were more families like them in need. They were ordered to join a war against Ukraine and if denied to do so, would be exiled or tortured, so they decided to flee as they couldn’t imagine killing friends they had in Ukraine. For Mylo, the situation hit home as she lived and taught in Russia and Ukraine for 3 years and saw it as an opportunity to take action. She called on more hospitality industry leaders and partners to join the cause and the nonprofit Tierra a Tierra, better known as Land to Land, was born. In February of 2023, Land to Land was officially launched with a beautiful event full of refugee stories, community members and outstanding floral design by Mylofleur. With help from NV Grow, Land to Land is growing and reaching more families in order to increase the impact.

The organization Land to Land focuses on helping refugees from war torn countries, including Russians, Ukrainians, Syrians and more, have a safe transition to a new home by providing crucial information, guidance, and services like food, shelter and travel assistance. With more than 8 million Ukrainians and Russians escaping their countries due to the war, according to UNHCR, the non-profit works on assisting as many refugees as possible and showing the impact Vegas can have on the global crisis. Land to Land will also be partnering with MyloFleur, a floral design company owned by Mylo, to provide refugees the opportunity to work in the hospitality industry.

The story behind the founder & her booming floral architect business, Mylofleur

Mylo Lopez, Owner of Mylofleur & Founder of Land to Land speaking with Eric Garner, Interim Director of NV Grow

The woman behind Land to Land and Mylofleur is a true example of hard work and dedication. Mylo Lopez, owner of Mylofleur and founder of the non-profit Land to Land, would help her mom clean after floral designers at MGM Mirage events to pay for architecture school. With big dreams and a keen eye, she networked with industry leaders as they would organize the events and through perseverance and opportunity, she soon became their florist.

She then created Mylofelur, a biophilic floral production design company based in Las Vegas that operates around the world, specializing in fresh floral and plant art installations, creating divergence and transforming spaces in special and private events including music entertainment venues, high end weddings, bohemian elopement designs, fashion & corporate events and more.

Now with 20 years of experience with clients like the Grammys, Imagine Dragons, Usher, Anita Baker, Missy Eliott, Bitcoin, Facebook, Twitter and more, Mylofleur elevates your idea and brings it to life, creating a unique space that shows that anything is possible. Now receiving marketing assistance from NV Grow and funding through NVenture Fund, Mylofleur and Land to Land are booming and are only going up from here. You can find the news story aired, below.

***All pictures are credit to McKenzie Taylor from Cactus Collective