Nevada bankers and brokers use Nevada State Development Corporation.
 
Nevada State Development Corporation (NSDC) has been providing financing for small businesses in Nevada since 1981, utilizing the SBA 504 Loan Program. NSDC has helped provide approximately $1.8 BILLION in real estate and equipment financing for small businesses. Approximately 19,000 new jobs have been created as a result.		  
 

Benefits to Business Owner

  • Faster approval time provides peace of mind and enables closing within 60 days.
  • NSDC can provide a pre-qualification within three days of receiving financial information.
  • 10% down payment allows business owners to retain capital and create jobs.
  • 504 loans can be used to finance properties that may be difficult for conventional lenders (such as convenience stores, restaurants, hotels).
  • Local contact for the life of the loan means NSDC will help you with your application, approval, closing, and servicing.
  • Collateral limited to the asset financed allows other assets to remain free of liens.

Benefits to Bank

  • Faster Approval, typically three business days, enables most closing within 60 days.
  • 90% financing helps fill in gaps when Borrower’s contributions or conventional Bank loan falls short.
  • Strong collateral position with the Bank in 1st position with 50% LTV reduces Bank’s risk.
  • Difficult properties may be eligible (such as convenience stores, restaurants, hotels).
  • Local underwriting and partnership gives you accessible contacts and frees your time to source more business.
  • CRA credit is awarded for participating in the SBA 504 program.

Benefits to Brokers

  • Faster approval, typically three business days, enables closing within 60 days.
  • Pre-qualification within three days of receiving financial information helps screen buyers.
  • Difficult properties for Bankers to finance alone may be eligible (such as convenience stores, restaurants, hotels).
  • Higher SBA loan limits allow you to use the program on larger projects.
  • 90% financing helps fill in gaps when Borrower’s contributions or conventional Bank loan falls short.

WITH THE 504 PROGRAM, EVERYONE WINS!

  • Business owner gets to keep more working capital in the business due to favorable loan terms, down payment, and interest rate.
  • Broker earns a commission quickly and on a loan the might not have been approved with only conventional financing.
  • Bank gets a 50% LTV first lien on the building, usually resulting in a lower blended interest rate to the borrower.
  • Neighborhoods benefit from additional jobs and increased economic development.
  • And, taxpayers are not affected as no tax dollars are used to fund the 504 Loan Program.
 

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