SBA restarts 504 refinance for business

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Southern Nevada small-business owners facing balloon payments on their real estate loans are about to get some much-needed relief.

The Small Business Administration, with the approval of Congress, has reinstated a program allowing business borrowers to refinance loans for their buildings or equipment at lower interest rates. That enables the businesses to save thousands of dollars a month and give them additional capital.

About 50 Nevada businesses and 2,700 nationally took advantage of the loan program when it started in 2011, and ...

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Governor’s Conference Business Pitch Competition

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Deadline: August 19, 2016, 5:00 PM PT

Register and apply to participate in the Business Pitch Competition at the Governor’s Conference on Business!  This statewide competition is open to businesses in operation for 2 years or less from all industries. Pitch your business, product or service to our expert panel for a chance to win a prize package that could give a boost to your early stage venture.  In addition, you will  have the opportunity to network with other business ...

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SBA 504 Refinance Program Made Permanent

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SBA 504 Refinance Program Designed to Help Small Businesses Grow and Create Jobs

Eligible small business owners now have more options to refinance eligible fixed assets and business expenses through the Small Business Administration (SBA) 504 Refinance Program.  SBA Administrator Maria Contreras-Sweet made the program permanent through an Interim Final Rule in The Federal Register released May 26, 2016. This change will help small business owners ease their financial burdens and create incentives for potential expansion and further job creation.

In ...

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SBA Debt Refinancing Update

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Administrator Maria Contreras-Sweet announced that the SBA Debt Refinancing regulations have been signed and is “on its way to the Federal Register as we speak.” The loan product will be available for CDCs by June. 

Discussions and details surrounding the soon-to-be released debt refinancing regulations will be featured this week at the NADCO Spring Summit with ...

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Small business loans point to sustained recovery

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A clear picture is emerging in banking for small businesses in Nevada, data from Nevada State Development Corp. show.

Although the sheer volume of small-business loans remained essentially the same in 2015 compared with 2014, the value of those loans increased substantially year-over-year, reflecting a strong increase in the value of Southern Nevada real estate and suggesting that Northern Nevada business is on the move, too.

Continue reading at the Las Vegas Business Press at the link below.

Source: Small business loans ...

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SBA 504 Refinance Program Signed Into Law

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NSDC is pleased to announce that a permanent SBA 504 refinance program has been signed into law.

The provision was placed into the omnibus bill that will fund the government for the rest of FY 2016. In a summary of the bill by the U.S. House Appropriations Committee it says that the agreement “…includes a provision to reauthorize the 504 refinance program at $7.5 billion to help business owners refinance their commercial mortgages…”

It will take a few more months for this ...

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President’s Message

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All of us at NSDC begin this new fiscal year with a sense of excitement in the air! As our economy continues its slow but steady recovery, we expect that there will be new opportunities for our small business clients to grow their businesses and prosper. While we deal with a diverse cross-section of Nevada’s small business owners, all of them have a few things in common. They are survivors. They are creative. They have faced immense challenges and, although ...

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