Press Releases

FOR IMMEDIATE RELEASE
CONTACT:                          Tom Traficanti

Executive Vice President, CCO

(775) 321-4131

ttraficanti@heritagebanknevada.com

August 9, 2017

HERITAGE BANK OF NEVADA NAMED #1 SBA LENDER OF THE YEAR

(Reno, NV) – Heritage Bank of Nevada has been named and received the 2017 Small Business Lender of the Year Award from the State of Nevada Office of the Governor, Brian Sandoval. In addition, Heritage Bank has received Congressional Recognition in honor of receiving the Nevada Small business Lender of the Year Award from the SBA by Mark E. Amodei, a member of Congress.

 Heritage Bank has also been congratulated for being honored as a 2017 Nevada Small Business Lender of the Year by Catherine Cortez Masto, United States Senator.

 Heritage Bank’s SBA awards include the Gold 3rd Party Loan Production award for 2017 with 13 qualifying SBA loans, and the Silver 3rd Party Lender 2017 award for $8,965,258 in SBA loans.

 The SBA 504 program is designed to grow small business and increase jobs.  Loans are made for purchasing or refinancing commercial real estate that is business-owner occupied. Up to 90% is used for financing the purchase of owner-occupied commercial real estate or equipment.  These loans are positioned and required by the state to create new jobs. 

 According to Tom Traficanti, Executive Vice President and Chief Credit Officer of Heritage Bank, “We continue to focus on the small to mid-size businesses in Northern Nevada and find way to help them with programs including the SBA loan program.  There are great benefits for utilizing the Small Business Administration loan program.  In many cases the buyer is reducing costs, improving location or adding square footage.  The low 10% down payment allows business owners to retain capital and create jobs. Below-market interest rates make the purchase of a building more affordable.  A fixed interest rate for 20 years with no balloon payments stabilizes occupancy costs, and the borrower’s lower down payment amount as compared to conventional loans which can tie-up up to 25% of cash, allows for more working capital.”

 Heritage Bank is proud to be the #1 SBA 504 lender and the premier community bank in Northern Nevada, with local ownership and local decision-making.  Covering the area with seven convenient locations and access to thousands of surcharge-free ATMs nationwide, Heritage Bank of Nevada continues its commitment to supporting the customers and communities it serves in Northern Nevada.