Nevada State Bank named top SBA lender for 2019
RENO, Nev. — The U.S. Small Business Administration Nevada District office recently named Nevada State Bank the No. 1 state lender “for its commitment to providing critical capital to Nevada’s small businesses in 2019,” according to a July 23 press release.
The top lender award reflects the quantity of SBA 7(a) and 504 loans guaranteed to Nevada businesses, as well as the dollar volume. Nevada State Bank issued 52 loans, totaling more than $28.3 million, in fiscal year 2019.
“I am extremely proud of the work that we do here at Nevada State Bank to help our small business community,” Megan Comfort, senior vice president and small business manager for Nevada State Bank, said in a statement. “Outside of being recognized by the SBA as being the top statewide SBA lender, the real recognition comes from our clients and helping their businesses thrive and grow.”
The 7(a) loan program is the most frequently used financing program for start-up and existing small businesses. The SBA’s 504 loan program, meanwhile, provides businesses with long-term, fixed-rate financing to acquire major fixed assets such as equipment or real estate.
Nevada State Bank, a division of Zions Bancorporation, N.A., is celebrating 60 years in business in 2020.
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