RENO, Nev. (KRNV & MyNews4.com) -- Nevada State Bank gave out more than $15 million in SBA loans to 61 Nevada businesses last year.
Nevada State Bank Vice President, Small Business Relationships Manager Dugan Pulsipher says about 15 of those businesses are from Reno.
A lot the money given out was geared toward real estate loans helping businesses get on their feet.
Pulsipher says the way the market is right now commercial real state is better than it's been in years and it's cheaper for businesses to purchase properties rather than rent.
Pulsipher says it's all about knowing what your options are.
"We try to sit down with them one on one and figure what they need it's similar to being a doctor or auto mechanic or anything else. We figure out what they need on the financial side and a lot of people don't know what they need, all they know they need money and we try to help them decide what they need the money for how to spend it and what kind of loan they need to do it," Pulsipher says.
Elizabeth Deer is a marriage and family therapist in Reno and currently has her own practice, but is now teaming up with a business partner to open "Serendipitous" a mutual practice center with other healing therapies.
With the help of a 504 loan they're buying a building that can hold their unique business they're going to have marriage and family therapy, along with nutrition therapy, and even yoga.
For Deer and her business partner it's a dream come true.
"Having the loan through SBA has been really helpful. We didn't have the ability to buy a building outright, most people wouldn't so it's been very helpful to be able to get a building in a part of town that we really both appreciate and we've been dreaming of having," Deer says.
"Serendipitous" is not expected to open for several months and is going to be located at 527 Plumas.