Global events like COVID send ripples through the economy which can cause uncertainty on the part of consumers and businesses. With the pandemic creating havoc for normal business operations and occurring just over a decade since the official end of the Great Recession, some economic uncertainty is to be expected. “I started with the bank 20 years ago and I came into the … [Read more...] about Setting Records
Paycheck Protection Program (PPP)
Employee Retention Credit
Rewind back to March 2020, panic swept through Nevada and many business owners were required under a government order to shut their doors and send their employees home. In response, then-President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) providing two mutually exclusive incentives – the Paycheck Protection Program (PPP) and the Employee … [Read more...] about Employee Retention Credit
Commercial Real Estate FinancingNavigating a Post-Pandemic Market
Fickle – that’s one word to describe the commercial real estate market as the COVID-19 pandemic winds down and the accompanying economic development downturn looks likely to take 18 to 24 months to resolve. For individuals or companies wanting to buy or build commercial real estate (CRE) properties, there’s money available – for the right person, with the right deal … [Read more...] about Commercial Real Estate Financing
Power Poll 2021Everything has Changed
In the last year, there have been significant changes to nearly every aspect of daily life. It seems no one was unaffected by the COVID pandemic that swept the world. Activities that were once taken for granted have now been limited or, in some cases, are simply gone. From new technologies to accommodate work from home to mask mandates and supply shortages, everything has … [Read more...] about Power Poll 2021
Around the StateMay 2021
PUCN Approves NV Energy’s Greenlink Nevada Initiative The Public Utilities Commission of Nevada (PUCN) has approved NV Energy’s proposed Greenlink Nevada transmission and renewable energy initiative. The initiative will tap into renewable energy zones throughout western and northern Nevada to accelerate the development of clean energy on public lands and increase electric … [Read more...] about Around the State
Healthy FinancesBanking on Nevada
Despite the ongoing changes and challenges brought by the coronavirus pandemic, the Nevada banking industry is in a much healthier place than it was after the Great Recession in 2008. Total assets of the 68 financial institutions in the state were $108.2 billion, according to recent statistics compiled by the Federal Deposit Insurance Corp. (FDIC). Banking executives … [Read more...] about Healthy Finances
The Possibilities of Rural NevadaEconomics Before, During and After the Pandemic
According to the U.S. Census, places with populations greater than 2,500 and less than 50,000 are deemed rural. Based on information from the last Census, in 2010 Nevada ranked third in states that had the largest rural populations. Nevada’s rural population made up 5.8 percent of the whole. Rural Nevada often doesn’t get as much media attention as metro counties Clark and … [Read more...] about The Possibilities of Rural Nevada
Greater Nevada Credit Union Commits to Participation in Paycheck Protection Program Loan Program for Nevadans Through August 8th
(Carson City, Nev.) – On July 4, 2020, federal legislation was passed extending the Small Business Administration’s Paycheck Protection Program (SBA PPP) through August 8, 2020. Greater Commercial Lending (GCL), a wholly-owned subsidiary of Greater Nevada Credit Union (GNCU), has quickly responded to the needs of the Nevada community by committing to continue its participation … [Read more...] about Greater Nevada Credit Union Commits to Participation in Paycheck Protection Program Loan Program for Nevadans Through August 8th
New BeginningsReinventing Nevada’s Workforce After Shutdown
On March 20, Governor Sisolak ordered all nonessential businesses to close as Nevada followed shutdown orders, attempting to slow the spread of COVID-19. Overnight, the travel and tourism engine shutdown. For the first time ever, casinos closed their doors. During the first week of shutdown, nearly 3.3 million Americans filed for unemployment benefits. The … [Read more...] about New Beginnings
Around the StateJuly 2020
GOED Approves Workforce Development Program The Nevada Governor’s Office of Economic Development (GOED) Board of Directors has approved a grant to the College of Southern Nevada (CSN) for an advanced manufacturing rapid response program. The grant is for $2 million and is expected to expand skilled training offerings in southern Nevada by expanding and accelerating the … [Read more...] about Around the State
Nevada Bankers Association Joins Local Business Groups in Pushing for “EZ Form” to Help Small Businesses Comply With Paycheck Protection Program
LAS VEGAS – The Nevada Bankers Association is joining other local business organizations in pushing for a more simplified and streamlined process to help small businesses comply with the loan forgiveness requirements of the Paycheck Protection Program (PPP). The NBA is part of a statewide group that includes the Vegas Chamber of Commerce, Reno Sparks Chamber of Commerce, … [Read more...] about Nevada Bankers Association Joins Local Business Groups in Pushing for “EZ Form” to Help Small Businesses Comply With Paycheck Protection Program
Nevada State Bank Secured Approval for 4,200+ Ppp Loans – Estimated Impact of 65k Jobs Covered by Ppp Loans
LAS VEGAS - Based on processed applications as of May 13, 2020, Nevada State Bank has announced approval for 4,255 U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loans totaling $592,005,500. More than 68% of the loans were made to businesses with fewer … [Read more...] about Nevada State Bank Secured Approval for 4,200+ Ppp Loans – Estimated Impact of 65k Jobs Covered by Ppp Loans
Greater Nevada Credit Union Processes $566.4 Million in Paycheck Protection Program Loans for Businesses Nationwide
(CARSON CITY, Nev.) – In the first full month of the Small Business Administration’s Paycheck Protection Program (SBA PPP), Greater Commercial Lending (GCL), a wholly-owned subsidiary of Greater Nevada Credit Union (GNCU), has received authorizations for 5,360 applications from small businesses, totaling $566.4 million. 1,045 of those loans for $101.4 million have been for … [Read more...] about Greater Nevada Credit Union Processes $566.4 Million in Paycheck Protection Program Loans for Businesses Nationwide
Temporarily Closed for BusinessNevada Versus COVID-19
Seemingly overnight the coronavirus (COVID-19) pandemic has swept through the world and changed every aspect of daily activity. From home-life and recreation to work and business operations, individuals everywhere have had to quickly learn to adapt to an unprecedented event. Working from home has been a trial by fire as businesses throughout Nevada closed their doors after … [Read more...] about Temporarily Closed for Business