Small Business Loans In Las Vegas – Getting a business loan can be difficult because the process and lending rules require time and attention. By breaking it down into manageable steps, from understanding your requirements to sourcing lenders to knowing how to apply for a small business loan, you can get the financing your business needs.
7(a) loans are the primary and most widely used loan type in the Small Business Administration’s (SBA) business loan programs. Its name comes from Section 7(a) of the Small Business Act, which authorizes the agency to make business loans to small businesses in the United States.
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Eligibility requirements are based on business aspects, not owners. Thus, the SBA makes loans to businesses, not individuals. All businesses considered for financing under the SBA 7(a) loan program must:
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You can get your credit report for free from each of the three major credit bureaus, Equifax, Experian, and TransUnion. You can also get your credit score for free from several credit card issuers and personal finance sites like NerdWallet.
The maximum loan term is 25 years for real estate and seven years for working capital. The maximum loan amount is 2 million.
US NewsIRS tax refund: Here’s what you need to know if you’re using a payment app for your refund. Las Vegas is perhaps one of the most interesting cities in the country, if not the most interesting city. What’s not to love about Vegas: Casinos, restaurants, resorts, live shows. Stroll the Strip and take in the sights: from Venice to Caesar’s Palace; it is truly a feast for the eyes.
What if you’re a small Las Vegas, Nevada business owner… With all the tourist action in Las Vegas, you’ll never be short of leads. Las Vegas, NV was recently ranked eighth in the nation for economic strength. Known as America’s playground, it’s a city you can’t help but love.
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When it comes to Vegas’ business climate, consider the following: Las Vegas was ranked 14th in the list of the best places to do business in the United States. Combine that with one of the highest financial stability ratings in the country, and you really couldn’t pick a better Western city to own and operate a small business. Call for a free consultation or apply online!
From the Arts District to Summerlin, Las Vegas real estate is particularly attractive. In 2018, more than eight thousand new residents flocked to call Las Vegas, Nevada home.
Now’s your chance to make a difference as a Vegas-based small business owner. How are you going to attract new customers? What can you do to increase your competition? How can you create more buzz for your Vegas brand? We want to help answer all these questions. Our lending agency serving Las Vegas offers commercial lending programs that are designed to help entrepreneurs take their businesses to the next level. First Union Lending wants to make your business better. Let’s talk about your options!
If you’re ready to take action, a direct online or alternative lender may be your best bet. Traditional Las Vegas banks usually have strict and prohibitive criteria. If your FICO is too low, if you don’t have enough time in business, if you lack the collateral they’re looking for, you’ll be rejected. However, we are looking at business loans. In other words, we look at many factors, not just the credit score.
Million In Ppp Fraud So Far, And Counting
In fact, how can you measure the entire history of a company by one number – you can’t. We want to know who you are. Where did your Las Vegas business start? Where did you get it? And what are your future plans? We invest in Vegas-based companies that are poised for success. From construction companies to beauty salons, catering companies to trucking companies and several other industries, we’ve helped Nevada businesses get the money they need. First Union Lending makes the process easy, just fill out an online application and we’ll get back to you!
And we won’t make you wait endlessly either. Our customers usually receive funding on the same day. We understand that especially in a vibrant and electric city like Las Vegas, business moves fast – you need the ability to keep up! Our short-term loan programs, lines of credit, SBA loans, long-term loans, commercial property loans, debt consolidation, short-term loans, health care provider loans, equipment financing, invoice factoring and merchant cash advances are designed specifically for your needs and goals. Your business is unique and we treat it as such.
Just fill out the online application and submit some documents. Your advisor will walk you through the rest. We’re here to make it as easy as possible. No surprises and no surprises – just honest and upfront financial help. If you are ready to remodel your building, buy new vehicles for your company, hire more employees, then we would like to talk to your Las Vegas business. Find out who’s right for you!Paycheck Protection Program (PPP) loans have helped more than 5.2 million people. small business owners, providing a much-needed lifeline during the crisis of the coronavirus outbreak. The vast majority of owners who received PPP loans used the money legitimately to keep employees and continue to operate.
However, the program attracted a few rotten apples who committed PPP loan fraud. And you won’t believe how rotten they are. Attempted Fraud Is Staggering: $341,000,000 By 2021 month of January. PPP loan fraud
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It’s a wild tale. Millions of dollars in coronavirus relief funds meant to keep workers on the payroll have been spent on extravagant personal spending, all by a relatively small handful of people. Some of them operated as criminal rings as part of the PPP loan fraud schemes they ran. The loot paid for with PPP loan money included two Lamborghini Huracan sports cars, a Rolex Presidential watch, a 5.73-carat diamond ring, a diamond bracelet, two Tesla cars, a 26-foot Pavati Wake Boat, a 33-foot Cruiser yacht, two Rolls-Royces, a Lamborghini Urus luxury SUV, a Kia Stinger, a Ford F-350 pickup truck, at least three Bentleys, and a host of other expensive vehicles and boats.
Cash, casino runs and visits to strip clubs have also been linked to PPP loan fraud. One defendant was so brazen that he allegedly posted a rap video online flashing $100 bills. In another case, a married couple was arrested at JFK airport for allegedly trying to flee the country after submitting 18 fraudulent PPP loan applications.
For a quick overview, this infographic shows what happens when funds are misused in PPP loan fraud.
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Could this prosecution be all about paperwork errors? They don’t seem to be honest mistakes. The criminal complaints describe egregious abuses of the CARES Act, assuming the government ultimately proves the allegations. Many cases involve falsified IRS documents, one of the easiest things for the government to check. This shows that most of the defendants are not very intelligent.
The Justice Department is hot on their heels. Until 2021 month of January. The DOJ and United States attorneys have filed charges related to PPP loan fraud schemes, charging more than 140 defendants with trying to defraud taxpayers. Fortunately, the Fed has already recouped much of the loan proceeds, although millions are gone forever.
Government money always attracts a small number of crooks, robbers and criminals. And the DOJ has made it a priority to root them out. in 2020 March 16 Attorney General William Barr directed all 94 US attorneys’ offices to prioritize the investigation and prosecution of PPP loan fraud cases. List of PPP loan scams
Investigations by the DOJ and US attorneys, including the Fraud Division, resulted in various charges including wire fraud (18 U.S.C. § 1343) and making false statements to SBA and FDIC-insured banks (18 U.S.C. § 1014). Legal experts say the charges could carry fines of up to $1 million and up to 30 years in prison.
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Some of the law enforcement agencies involved in the investigation include: the Federal Reserve Board of Governors and the Consumer Financial Protection Bureau’s Office of the Inspector General; Office of the Inspector General, Small Business Administration (SBA-OIG); Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG) and the FBI.
But of course it is up to the government to prove the allegations. Justice Department lawyers remind everyone that “a criminal complaint is only an accusation and a defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.”
Have we seen the last of the Paycheck Protection Program prosecutions for PPP loan fraud? No. The above figures are valid until 2021. in January, and new cases are announced regularly. We have a new administration in Washington, but government officials at the Justice Department have not announced a change in enforcement policy.
But keep it all in perspective. Less than 150 defendants