LAS VEGAS – The Small Business Administration Nevada District office named Nevada State Bank the top statewide lender by number of loans for SBA 7(a) and 504 lending. At the 2018 SBA Small Business Awards, Nevada State Bank will receive the 1st place award for statewide lending. The award is in recognition of the 52 SBA 7(a) and 504 loans it guaranteed businesses, exceeding … [Read more...]
Business Succession Planning: Do It Now, Before It’s Too Late
According to the Small Business Administration, small businesses make up approximately 99.7 percent of U.S. employer firms. Of that number, approximately 78.5 percent of U.S. small businesses are non-employer (businesses without employees). More than 50 percent of all small business owners are 50 or older. Although small business owners usually understand the … [Read more...]
Q&A: Linda McMahon, Director, US Small Business Administration
Director of the Small Business Administration, Linda McMahon is newly appointed to the role by President Trump and the first of such appointees to visit the Silver State. She has a long history in business and was the co-founder and former CEO of WWE, which she helped grow from a 13-person regional operation to a worldwide organization with over 800 employees. She now serves as … [Read more...]
Small Business Administration Recognizes Nevada State Bank as a Top Business Lender
LAS VEGAS – The Small Business Administration Nevada District office awarded Nevada State Bank the silver Lender of the Year award for 7(a) loan production. At the 2017 SBA Small Business Awards, Nevada State Bank received the award in recognition of the 34 SBA 7(a) loans it provided businesses in SBA fiscal year 2016. The 7(a) loan program is the most frequently used … [Read more...]
Banking on Nevada: Stronger + in Recovery Mode
For City National Bank, 2016 was one of its best years since the economic downturn. Today, with $47 billion in assets, its financials are more robust overall, profitability is improved, topline revenues are increasing and its number of clients is up, said Scott Aney, Nevada regional executive. In fact, in December, executives signed a 10-year lease extension for City National’s … [Read more...]
Financing Your Business or Project
It’s been said that money makes the world go ‘round. Well, that’s certainly true when it comes to business. Whether small business or big business, a solid financial statement is necessary for any company to be successful. Unfortunately, that’s often easier said than done. Start-up financing, loans for existing businesses or project loans can be hard to get and, with the recent … [Read more...]
Minority Owned Challenges & Successes
The backbone of the U.S. economy has traditionally been composed of millions of small businesses that are owned and managed by entrepreneurs who savor being their own boss. As the economy inches its way to recovery, that same hard scrabble independence remains a driving force behind numbers that indicate some sectors of the financial world might be getting better all across the … [Read more...]
Getting Out: The Financial Planning Features of a Business Exit Strategy
Starting a business takes a large amount of planning. But after the business plan is completed, retail or office space is rented and employees are hired, many entrepreneurs have neglected one crucial question: When the time comes, how will they exit their business? When owners are immersed in the details of building a business, it’s difficult to imagine selling it or giving … [Read more...]
Connecting the Dots: Nevada’s Place in the Global Economy
Ninety-six percent of the world’s population lives outside the U.S. Yet only 1 percent of American businesses export their products and services. In countries like Germany and Japan, some 40 to 60 percent of GDP is in export. Still, our 1 percent translates to trillions of dollars coming into the U.S. economy, according to Randy Innis, chair, Nevada District Export … [Read more...]
Foundation Raising Funds for Veterans Memorial in Downtown Las Vegas
A local foundation is raising money to build a "world-class" veterans memorial in downtown Las Vegas. The Las Vegas Veterans Memorial Foundation is seeking $2.2 million through its Brick Campaign, where bricks are being sold at a range of $250 to $550. All bricks can be purchased in honor of a veteran and customized with the veteran's name, rank, dates of service and … [Read more...]
TMC Financing Celebrates Celebrates Small Business Week
This week the Small Business Administration celebrate National Small Business Week in cities across the country. Events in San Francisco, Kansas City, Boston and Washington DC are joined by free webinars designed to help small business owners and entrepreneurs improve their businesses. Locally, TMC Financing is Clark County’s leading provider of SBA 504 loans that help small … [Read more...]
It’s an Investment: Commercial Financing in Nevada
The construction industry continues to be the barometer for the severity of Nevada’s economic plight, but commercial real estate in particular is making enough improvement to spark interest from investors and private parties looking to benefit from the historically low interest rates. This means banks and other real estate lenders are revving up business again. Economic … [Read more...]
April 2014: Around the State
Nevada Leads the Way in Clean Energy According to a report from the Clean Energy Project, since 2010 Nevada has invested at least $5.5 billion in clean energy projects. The state ranks sixth in the United States in installed solar capacity and will host four major trade conferences for the clean energy sector this year. The industry is boosted in the Silver State because of … [Read more...]
November 2012: Around the State
Home Sales Rise in Lake Tahoe According to a quarterly report released by Lake Tahoe-based real estate company, Chase International, there was a 37 percent jump in homes sold and a 16 percent rise in sales volume in the Lake Tahoe area. Homes sales under one million increased by 37 percent and home sales above one million increased by 33 percent while overall prices fell. The … [Read more...]
