Nevada State Development Corporation (NSDC) partnered with Valley Bank of Nevada to assist Classic & Collectible Cars with an SBA 504 loan, allowing the Nicholl family to build a new facility for its valuable vehicles with additional parking spaces for customers, and to rid the valley of the former burned out building that was a bakery at 3701 Sirius Avenue in Las Vegas.
“Our brand new building is a great improvement from our former dark and dim warehouse,” said Michael Nicholl, owner of Classic & Collectible Cars. “The purpose for our move was to make a better presentation with a new building and we gained a bigger lot that is fenced in and well-lit. We also stayed in proximity to our last location, which was a goal.”
“This loan in partnership with Valley Bank of Nevada was for the purchase of an existing burned out building and construction of basically a new building,” said Evan Dickson, NSDC business development officer. “The total project cost $664,000.00 with the bank amount $332,000 and SBA loan for $276,000 at 5.451 percent.”
“This was a total win-win situation for everyone, including the Valley,” said Stephen Wagner, senior vice president commercial loan officer at Valley Bank of Nevada. “Since the building was burned down, the bank was able to view this as a ground-up construction loan and it rid the area of an eyesore.”
Classic & Collectible Cars is a Las Vegas success story. The business was started in 1982 in North Las Vegas by founder Larry Nicholl, who had retired after 22 years in the U.S. Air Force. Along with his four sons, he specialized in the sale of classic Mustang parts, restoration and collector cars. In 1986, Nicholl sold the Mustang parts and restoration end of the business to focus on selling and appraising all types of classic and special interest automobiles and he built and operated a facility on Arville Street near Tropicana until it was sold in the mid-1990s. By this time, his sons had left the business and the shop shrunk to a one-man operation.
In 1997, son Michael Nicholl took over Classic & Collectible Cars and, with the Internet emerging, began to market and sell collector cars in a new way. With an established reputation, the business grew to a 15,000-square-foot facility housing 65 cars. Today, Classic & Collectible Cars maintains a 30-car inventory focusing on the $10,000 to $30,000 price bracket and offers ancillary services like appraisals, pre-purchase inspections, consignment, shipping and light restoration and detailing.
“Today, upwards of 60 percent of our sales are with foreign buyers,” said Nicholl, “And 90 percent of our sales are Internet generated.”
The company ships vehicles all around the globe.
Open daily except Sunday and half-day on Saturday, the business offers appraisals, pre-purchase inspections, consignment options, shipping and light restoration and detailing services. To learn more, email firstname.lastname@example.org or call 702-873-2222.