SBA7(a) Loan Programs Helps Small Businesses in the Las Vegas, Nevada area
The SBA 7(a) Loan Program is generally easier to get than conventional loans. To help spurt lending among banks, the federal government has increased its loan guarantee and set aside fees for borrowers. According to an article by John G. Edwards of the Las Vegas Review Journal, OPENING DOORS POLICY – Government Programs giving businesses way out of recession doldrums” dated Sunday, June 13, 2010, that the federal, state and local government agencies are helping small business owners get loans, learn better management techniques, obtain government contracts, expand into export markets and cut costs.
It was also indicated that virtually the only loans available for small commercial businesses come with guarantees from the Small Business Administration.
For details on SBA Loans, contact John Scott, district director for the SBA in Nevada. Mr. Scott figures that the agency’s programs and federal stimulus law enhancements in the programs have softened the economic crash for small businesses in the Silver State. With an attractive interests rate of around 6.5% and the banks waiving the fee for the loan guarantee, its hard to pass it up, if you can afford to borrow.
There are other government agencies that help small businesses: the Nevada Industry Excellence, the industry outreach program of the Nevada System of Higher Education, shows manufacturers how to become more efficient via seminars; the Nevada Small Business Development Center, affiliated with the University of Nevada, Reno and the University of Nevada, Las Vegas which helps in locating a retail site, marketing programs, and procurement; and The Nevada Commission on Economic Development which runs two programs – Global Business Development and the Procurement Outreach Program.
The Small Business Administration web site also has valuable information that is specific to your local area. From my perspective, every size business small or large should tap into this abundant pool of resources that the Small Business Administration has to offer. The above is just the beginning!
Tags: federal, government, las vegas, loans, nevada, sba, small business
