The principal responsibilities of VCOZ are twofold. Business Capacity Building: raising the competency level of our clients though formal training, seminars, workshops, and one-on-one mentoring, normally in areas beyond their business specialty; Funds: direct business funds for specific purposes, e.g., signage, property improvement, capacity-building, capital equipment purchase, job creation and/or loan-levering funds to meet the bank’s owner’s capital injection requirements for larger commercial loans.
- Business must be located in the Zone for a minimum of two years from the distribution of VCOZ Funds
- Two years in business desired — may be waived for a number of factors
- Bank loan approval/significant owner's investment
- Blighted area or redevelopment area improvement
- Strong indicators of job creation or other measurable economic impact
- No outstanding federal or state tax liabilities
- Two years business tax returns
- Current financial data on the business
- Business plan with cash flow projection and detailed Source and Use of Funds
- Willingness to sign Agreement for Fund Disbursement
- Sign Authorization for the Release of Information form
- VCOZ funds must equal a minimum of 1:1 ratio ($1 from VCOZ and $1 from other source of funds)
Preference may be given to businesses locating in the designated redevelopment areas of the Cities of Las Vegas and North Las Vegas and for businesses rehabilitating and remodeling older properties.