NSDC: Lending pace up in last fiscal year | nnbw.com

NSDC: Lending pace up in last fiscal year

NNBW staff

The Nevada State Development Corp. approved $45 million in SBA 504 loans in Nevada in the fiscal year ended Sept. 30, with roughly half the total representing investments in plants and equipment in northern Nevada.

That’s a 48 percent increase in lending statewide, and the loans supported approximately $122 million in commercial real estate projects for small-business owners.

The nonprofit said it helped four companies, including three manufacturers, relocate to Nevada during the last fiscal year.

In the fourth quarter of its fiscal year, Nevada State Development Corp. said it won approval of $17.7 million of SBA 504 loans. That’s a 51.2 percent increase in loan volume from the previous year.