SBA 504 loan activity surging in Northern Nevada

by Kaleb Roedel

Evan Dickson was worried. It was shortly after the pandemic hit, and the president of the Nevada State Development Corporation was prepared to see many of the nonprofit’s clients go under.

Consequently, NSDC, the largest provider of SBA 504 loans in Nevada, feared it was going to be hit hard, too.

“We’re a small business, too, and we’re putting together a budget and we’re thinking, this could be detrimental to us as a small business,” Dickson recalled during a recent interview with the NNBW. “Because we could have a lot of small businesses within our portfolio that are failing and have foreclosures. We planned for it to be a relatively tight year.”

That outlook began to change after the government rolled out coronavirus relief programs, such as the Payroll Protection Program, to help small businesses keep their workforce employed and stay afloat.

And once the Nevada economy began to reopen and consumer confidence rose, entrepreneurs turned to organizations like NSDC to grow and strengthen their businesses through SBA 504 loans, which provide long-term financing of up to $5 million for the purchase of real estate, equipment and other fixed assets.

Read the entire article in the NNBW: https://www.nnbw.com/news/2021/jul/22/sba-504-loan-activity-surging-northern-nevada/