Small Business Loan Program Seeing Increased Demand, Delays
As the economy continues to rebound from the impacts of the pandemic, many businesses are looking for lower-cost options to cover expenses. One option is an SBA 504 loan, but you might have to wait longer than usual.
The Nevada State Development Corporation is the state’s largest provider of SBA 504 loans, and its president says demand rose during the pandemic, especially once the federal government rolled out coronavirus relief programs, like the Payroll Protection Program.
The loans provide long-term financing for up to $5 million for real estate, equipment and other fixed assets.