lenders

RENO, Nev. — With the Small Business Administration resuming their Paycheck Protection Program earlier this week, and other organizations such as Prestamos CDFI joining in to offer other forgivable loan programs, University of Nevada, Reno Extension will offer free online town halls with representatives from these organizations and other lenders, as well as Extension experts, explaining eligibility, the application process and other details on the assistance programs.

Stroudwater Associates, the nation’s leading source of strategic, operational, and financial strategy for rural, community and county-district owned hospitals, announced today a joint venture with Greater Commercial Lending (GCL), a wholly-owned subsidiary of Greater Nevada Credit Union, recognized as one of the nation’s leading USDA lenders, to help rural healthcare businesses access USDA guaranteed loans. The new partnership will be known as StroudwaterGCL Rural Healthcare Capital.

If the last recession was any indication, small businesses that bank with a community bank will weather this recession better than entrepreneurs that bank big.

When Will Truce and Jake Conway worked as high school teachers in Carson City, a colleague offered them some crystallized honey from his bee farm, and the two began experimenting with making mead, the world’s oldest alcoholic beverage brewed by fermenting honey with water and sometimes referred to as ‘honey wine.’

Tens of thousands of Nevada small businesses and organizations — from casinos and law firms to churches and even strip clubs — received at least $3.1 billion through the Paycheck Protection Program stimulus package, according to a massive disclosure made by the federal government.

Nevada Gov. Steve Sisolak signed Emergency Directive 025 on Thursday, which will gradually lift the moratorium on evictions. He also strongly urged landlords and tenants to work together and collaborate on repayment plans.

After faring poorly in the initial round, Nevada small businesses received the second highest number of approved loans and total aid in the second round of funding for the Small Business Administration emergency loan program compared with six similar-sized states.

During the COVID-19 crisis, real estate transactions are still happening. People are still looking to buy homes and others are still hoping to get theirs sold.

The real estate industry has been deemed essential and there are many safety measures local Realtors are implementing for the benefit of their clients and the community.

Greater Commercial Lending (GCL) continues to accept applications for the Paycheck Protection Program (PPP), authorized by the U.S. Small Business Administration (SBA) as a result of the recently enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act). The company is one of the earliest business lenders to fully adopt the PPP in the State of Nevada since opening applications on Friday, April 3. By mid-day on Monday, April 6, over 400 Nevada businesses had submitted applications to GCL.

A tenant getting tased and forcefully removed. Landlords changing card readers and locking people out of their apartments. A coronavirus patient sitting in her room, terrified of being thrown out because property managers will not let her come into the office to pay.

In response to the COVID-19 pandemic that continues to threaten local economies across the country, the U.S. Small Business Administration has increased efforts to alleviate the hardship experienced by small businesses.

On Sunday evening, Gov. Steve Sisolak issued one of his widest-ranging emergency directives yet — suspending all evictions and foreclosures in the state.

Gov. Steve Sisolak has announced a moratorium on evictions for both residential and commercial tenants for the duration of the state of emergency, providing relief for renters who, in many cases, are facing the first of the month without a job and are under orders to try to stay at home for their own health.

COVID 19 and Real Estate – What You Need To Know- One Realtors Advice.

Nevada’s response to the COVID-19 pandemic has restricted the activities of many local businesses that aren’t considered “essential.” Realtors are among the list included in essential businesses, so are lenders, title companies, and banks.
With that said and with direction from Nevada Realtors Association at the state level there are some things to be aware of.

March is here and that famous groundhog saw his shadow, a recent article on CNBC suggests spring will arrive early this year — at least when it comes to the housing market. In fact, some are speculating that January may very well be the new April.

What’s causing this already-busy buying season to kick off ahead of schedule? Low inventory and rising home prices are spurring house hunters to come out of hibernation months before they previously would have.

Holley, Driggs, Walch, Fine, Puzey, Stein & Thompson law firm proudly announces the promotion of three attorneys to shareholders from its Las Vegas and Reno offices. Effective Jan. 1, 2020, attorneys Andrea Gandara, Audrey Damonte and John Savage, join the Firm’s board of shareholders, offering a broad range of experience in bankruptcy, commercial litigation, administrative law, estate planning, probate and tax law.

Each have been key contributors to the Firm's continued growth, locally and across the region, with a dedication to strengthening its ongoing community endeavors.

When the families and friends of Lyfe Recovery clients were introduced to the facility, they were sold on the idea that their loved ones would be in a supervised sober environment to help them beat their addictions. However, what Lyfe Recovery turned out to be was a shell, barely meeting the minimum requirements. Unfortunately, for Joe Tummarello, the minimum for his own needs weren’t met during his time at the Carson City based sober-living facility, which allegedly contributed to his death.

With home prices rising in many areas of the country, many people are worried that we’re headed for a housing crash like the one we suffered in 2008.

But here’s the thing: it’s just not true. While it’s understandable that people would look at the current market, consider it a “housing bubble,” and assume it’s going to pop, the truth of the matter is the market today couldn’t be any more different than they were before the crash of 2008.

Let’s look at four reasons why we’re not headed for another housing crash:

1. Banks have tightened their lending practices

Fat Tuesday Business to Business networking Oct. 16 from 5-7 p.m. at Espolon Grill y Tequileria, 10115 U.S. Highway 50 in Mound House.

Mr. and Mrs. Hamilton got student loans to finance the education of their adult son (Andrew). In 2008 Mr. Hamilton was permanently disabled due to a back injury. In June of 2011 he asked to have the loans discharged (cancelled). In 2011 two lenders did cancel loans totaling $158,511.

CARSON CITY – During its 2018 Annual Conference, the National Association of Local Housing Finance Agencies presented the Nevada Rural Housing Authority with the Single-Family Excellence award in recognition of the Home At Last program.

Are you aware that June is National Homeownership month?

Probably not. Because you’re too busy working to afford the home you live in, whether you rent it or own it.

Why should you care?
If you poke around and read anything you can find about it, you’re being urged to recognize and celebrate the benefits of homeownership.

That seems kind of a weird thing to ask you to do. Do you really have the time or care? What’re you supposed to do, throw a party? Sit alone and contemplate it? Invite some friends out for coffee and chat about it?

Will Congress change the tax laws? When will they send the proposed changes to the President? Will he sign it and have the laws changed? I don’t know, but perhaps you should not ‘hold your breath’ waiting for it to happen. Of course the tax laws are too complicated and it is too expensive to prepare the returns.

The Department of Business and Industry will host the sixth annual Governor’s Conference on Business August 17 at the Nugget Casino Resort in Sparks.

Please join USDA Rural Development Nevada State Director Sarah Adler in welcoming our new Guaranteed Home Loan Program staff members Ticia Weare and Debbie Parra at an Open House on Friday, September 23, at the Carson City State Office, 1390 S. Curry Street from 9:00 to 11:00 a.m.

In our last column, we explained that the financial collapse of 2007-08 was due much to collusion between private banks and government. Congressional mandates required lenders to issue mortgages to people who couldn’t afford them. Then, government agencies would purchase the faulty loans from the banks, thus relieving the banks of the risks.

The Nevada Rural Housing Authority was recognized last Thursday by the National Association of Local Housing Finance Agencies during its 2016 Annual Conference in Dallas, Texas.

NRHA received excellence awards in two categories: the Single-Family Excellence category in recognition of the Home at Last Program, and the Multifamily Excellence category in recognition of the Winnemucca Senior Campus project.

Aqua Metals, Inc., which is commercializing a non-polluting electrochemical lead recycling technology called AquaRefining, announced Friday a $10 million loan from Green Bank in conjunction with a 90 percent loan guarantee from the U.S. Department of Agriculture Rural Development Agency for the development of its first AquaRefinery.

Beginning Oct. 3, most mortgage transactions will be required to be completed on new disclosure forms created by the Consumer Financial Protection Bureau. The new forms – the Loan Estimate and Closing Disclosure – have been designed to improve consumer understanding of the mortgage process sooner, assist consumers with comparison shopping, and prevent unexpected issues at the time of closing.

A Mound House RV repair outfit, a community agriculture ranch in Washoe Valley and a motel in Fallon are among the recipients of energy grants awarded Tuesday by USDA Rural Development Nevada.