WHAT WE DO
The Nevada Loan Participation Program (LPP) helps small businesses access the capital they need to grow by partnering with Nevada banks and credit unions. Through this partnership, the program supports financing that helps businesses expand while reducing risk for participating lenders.
Benefits for Small Businesses:
- Access to loans with more favorable terms
- A flexible financing solution to support business growth
Benefits for Lenders:
- Reduces lending risk
- Helps support loans that may not otherwise be approved, or would require additional collateral
- Strengthens customer relationships while creating opportunities for additional banking services
WHO IT'S FOR
The Loan Participation Program is designed for eligible Nevada small businesses seeking financing for growth and expansion.
- Businesses may qualify if they:
- Have 500 or fewer employees
- Need additional lender support due to projected cash flow, credit limitations or lending concentration
- Are seeking financing between $250,000 and $5 million
- For loans between $20,000 and $250,000 we work with Community Development Financial Institutions (CDFIs)
- Are working with a participating bank or credit union to finance a new project, new money or new underwriting
-
Eligible Uses:
- Permanent equipment, machinery and inventory
- Owner-occupied commercial real estate (51% for existing building, 60% for new buildings)
- Accounts receivable revolving loans and lines of credit
- Loans eligible for Commercial Property Assessed Clean Energy (C-PACE)
-
Program Requirements:
- Limited refinancing and cash-out financing are allowed; business acquisitions are not
- Real estate financing must meet program requirements. Passive investment real estate is not
- Existing buildings must be at least 51% owner-occupied (60% owner-occupied for New buildings).
- Nevada manufacturers investing in automation, advanced equipment, or supply chain management technologies (Industry 4.0) are especially encouraged to participate.
- Total small business loan application must not exceed $20M (with Battle Born Growth Loan Participation not to exceed $5M).
.
How it Works
The Loan Participation Program works to help small businesses secure financing by partnering with Nevada lenders such as banks and credit unions. By sharing in a portion of the loan, the program reduces the lender’s exposure making it easier for businesses to access the capital they need to grow.
The program purchases a portion of an eligible loan from the participating lender and because the program’s portion may carry a lower interest rate, borrowers may benefit from a lower overall borrowing cost. Our partnering bank continues to service the loan and you remain a client with the bank and/or credit union.
HOW TO APPLY
- Lending Institutions:
Contact us directly if you are interested in partnering with us and participating in the program. - Borrowers:
Please reach out to your bank or credit union and complete a loan application, mention the SSBCI Program and ask the financial institution to contact us.
If a borrower does not meet the lender’s cash flow coverage requirements or additional support is needed to approve the requested loan, the lender shall reach out to us as your business may be eligible for the Loan Participation Program.
Our team works directly with participating banks and credit unions to assist with eligible borrowers and encourage use of the program.
If you are a small business in Rural Nevada and are seeking a loan between $20,000 - $250,000,
please reach out to the Rural Nevada Development Corporation (RNDC) which is our lending partner.
Download Flyer | Program Manager: Nevada Battle Born Growth Escalator