As our team at Nevada State Development Corporation enters
the new fiscal year, the watchword for 2020 is optimism. We’re optimistic about
the state’s economic prospects, we’re optimistic about the continued growth of
the SBA 504 loan program, and we’re optimistic about Nevada’s future.
Interest rates in the 504 program are at or near all-time lows,
creating tremendous opportunities for business owners throughout the state who
are looking to secure a brighter future for themselves, their businesses and
We saw our loan volume pick up as we neared the end of fiscal year
2019, and we’re excited as we head into fiscal year 2020. We’re staffed
to make the loan process as easy and as smooth as possible, and we look forward
to sustaining the relationships with all the lending partners we have worked
with through the years while building new partnerships.
Our numbers at NSDC for fiscal year 2019 reflect an economic
picture that is healthy and robust. In fiscal year 2019 we funded a total
of 48 loans for $34.37 million. That equates to an estimated 550 new jobs
created statewide. As strong as those results are, we fully expect to
exceed those numbers in fiscal year 2020.
I would like to take the opportunity to offer my sincere thanks to
all of our partners in the banking industry and the real estate field along
with our friends at the U.S. Small Business Administration for their immense
support. It is an honor that they place their faith and trust in our team. NSDC
has been around for nearly 40 years now, and it is a distinct privilege for
us to have been able to serve businesses in the state for that period of time.
We are greatly appreciative whenever one of our lending partners thinks of us
for their SBA 504 loan packages. It means a lot that they have such confidence
in us to deliver, and we take that responsibility seriously.
I want to thank our highly talented staff members in our Las
Vegas and Reno locations for providing the highest level of service to our
clients. Of course, huge thanks goes out to all of our small business
clients, who represent the heart and soul of our mission. We deeply
appreciate the opportunity to contribute to your growth and success.
One of the goals of a certified development company (CDC) is to make economic contributions to the areas they serve, and this is another bright spot for NSDC. For fiscal year 2020, we are intending to invest a projected $20,000 in other economic development programs in Nevada to assist them.
The most rewarding aspect of leading NSDC is enjoying the
opportunity to serve small businesses in the state of Nevada. At NSDC, we are a
small business ourselves, so it is particularly gratifying that we have been
able to help so many small businesses grow.
Looking ahead, our vision for 2020 couldn’t be clearer: We see
even more progress, prosperity and profits for all of our borrowers, lending
partners, friends and extended NSDC family.
All the best,