Lake Tahoe Real Estate. Business Owners Are Beginning to Stir

by Bonnie
Monday, March 29, 2010 5:10pm (PST)

More loan applications are being sent out by northern Nevada business owners in recent weeks. For instance, Nevada State Bank received 93 applications for $6.1 million in small business loans in January and February. This is substantial compared to the 128 applications totalling $1 million for all of 2009. Only time will tell but these last couple of months have definitely seen a higher volume of loan requests. Some business owners feel that the economy has stabilized enough that they can forecast demand for their products, thus desiring loans to be used to finance equipment purchases. Some borrowers hope to take advantage of the depressed market to finance the purchase of an office or industrial properties at a low price. Some relief to the hard-pressed contruction industry would be provided by some potential borrowers who appear to be getting ready for building projects with the aid of a loan. Adrian Burney, a senior vice president and loan officer at Nevada State Developement Corp. appears hopeful about these potential borrowers. Furthermore,they seem to be well-qualified. He says, "We havent seen a weak borrower in quite awhile." There's hope. Post my comment