Funding available, participation needed
Shelton told News 3 that the program includes a $4.1 million grant intended to help reinvigorate Nevada's economy. He described the grant as reimbursable and said 26 businesses have completed the program so far.
"The program is working, but we have so much more money to spend down, but we need people to join in order for us to provide these resources," Shelton said.
The Nevada Capital Readiness Program's official site identifies the federal Minority Business Development Agency as its funder. The program provides technical assistance to help entrepreneurs build and expand investable businesses, preparing them to seek capital through the State Small Business Credit Initiative, other government programs or private sources.
Free support at different business stages
Eligible Nevada entrepreneurs can participate at no cost, according to the program's application page. Enrollment is available year-round, and participants work at their own pace in one of three tracks based on their business's stage: Start Up, Stay Up or Scale Up.
The Urban Chamber offers the program to nonmembers as well as members, Vegas Inc / Las Vegas Sun reported. Participants also receive free access to the Chamber's Small Business Academy platform. Shelton was named the Chamber's president and CEO in July 2026.
Nevada has also received separate federal support for small-business technical assistance. On September 10, 2024, the U.S. Department of the Treasury announced an award to the Nevada Governor's Office of Economic Development through the State Small Business Credit Initiative's "Investing in America Small Business Opportunity Program."
The state office described that award as more than $4 million and cited a $4.2 million figure. It identified partners including the Nevada Small Business Development Center, the Nevada Tech Hub and National Science Foundation Engines.
A Henderson owner's experience with growth
Among the 26 businesses Shelton cited is the Henderson martial arts studio run by Annie Kang-Drachen, identified in the News 3 report as Core Martial Arts and Core Fitness and Martial Arts. After 12 years in business, Kang-Drachen said expansion required her to learn where to find support she had not previously known was available.
"It's been a business boot camp, kind of going back to fundamentals, relearning things, accessing resources that I didn't realize was out there," she said.
For Kang-Drachen, the studio's work extends beyond teaching self-defense. She described watching students gain confidence over several years: "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?"
Participating in the program taught her how to seek capital for expansion and job creation. She said growth also brought a greater sense of responsibility toward both her students and her employees.
"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.
Kang-Drachen is now training employees with the aim of helping them eventually open businesses of their own.
