Bank of Nevada was recognized as the number one Small Business Administration (SBA) 504 Lender in Nevada in 2017, as measured by the number of loans approved during the previous fiscal year.
The award was presented during the SBA’s Nevada Small Business Awards Luncheon on May 4, 2017, in Las Vegas.
In addition, Bank of Nevada was recognized for the overall volume of its SBA loans, achieving second place, with $13.6 million dollars in loan production during the 2016 fiscal year which ended September 30.
“It is truly an honor to be recognized again this year as one of the top 504 lenders in the state and to help small businesses on their road to success,” said Aimee Burford, Vice President, Bank of Nevada and Senior Commercial Real Estate Lender. “Small businesses are essential in cultivating jobs in the state and we are committed to this important business sector.”
The SBA 504 program is designed to provide financing for the purchase of fixed assets, such as commercial real estate, new construction and equipment, and provides up to 90 percent financing to business owners in the purchase of commercial owner-occupied property.
The SBA 504 program assists small business owners by requiring low down payments and offering longer repayment periods, such as up to 10 years for equipment purchases and 20 years for commercial real estate. By providing advantageous loan terms, the SBA 504 program helps small businesses to expand their business and create new jobs.
About Bank of Nevada
Bank of Nevada is a division of Western Alliance Bank, Member FDIC, the go-to bank for business in its growing markets. Founded in 1994, Bank of Nevada offers a full spectrum of deposit, lending, treasury management, international banking and online banking products and services, plus superior service to meet the needs of local businesses. With 10 offices in Las Vegas, Henderson, North Las Vegas and Mesquite, along with Western Alliance Bank’s robust national platform of specialized financial services, the banking division is a valued partner for Southern Nevada’s business, real estate, professional, municipal and nonprofit communities. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation (NYSE: WAL). One of the country’s top-performing banking companies, Western Alliance ranks #4 on the Forbes 2017 “Best Banks in America” list. For more information, visit bankofnevada.com.