NuSystems of Gardnerville uses new SBA re-fi program to lighten financial load, increase profitability
For years, companies that had a great balance sheet but were stuck with high-interest loans or looming balloon payments were unable to take advantage of the historically low interest rates that have been readily available in recent quarters.
The SBA 504 loan program, which often offers below-market interest rates, was strictly off the table. There was no SBA refinancing program to come to the rescue.
That all changed in 2016, and the tech-savvy owners of NuSystems Inc. of Gardnerville were quick to respond.
NuSystems, a leader in home theater, audio, security and central vacuum systems, recently closed on $2.28 million in refinancing of existing debt. Nevada State Development Corporation, the state’s largest SBA 504 loan provider, assisted with the financing package.
“We’re in a great market and we really know our customer needs, but we also wanted to take advantage of these amazing rates,” said David Blackford, president of NuSystems in a press release. “With minimal paperwork, we were able to refinance at an extremely attractive rate, which changes our economic future and gives us bragging rights for a long, long time to come.”
Owned and managed equally by David Blackford and Robert Blackford, NuSystems has been operating for more than 34 years. The firm’s target demographic area includes Reno, Sparks, Carson City, Incline Village, Minden, Gardnerville and the Lake Tahoe area.
“NuSystems is a company that has been around for decades, and these are probably the lowest interest rates that have been available since the day this company started,” said Roger Kadz, vice president/business development officer with Nevada State Development Corporation in a press release. “They are highly respected players in their field, and now, this loan will help set their economic future for years to come.”
Other ancillary services provided by NuSystems include satellite and cable television, phone and high-speed data wiring, computer networking, wireless access points, closed-circuit television and energy monitoring for residential and commercial users. Key customers include Bently, Barton Hospital and Wild Island Adventure Park as well as individual homeowners and small businesses.
For more information on Nevada State Development Corporation, please visit http://www.nsdc.com.
For more information on NuSystems Inc., please visit nusystems.com.
“The thing that I like most about entrepreneurship is I can work toward something that I’m passionate about and be at the forefront of the change that I want to see happen,” said Priyanka Senthil, a senior at Davidson Academy in Reno and co-founder of startup company AUesome.