Pete and Traci Aguilar, the founders of LV Iron & Steel, have been a cornerstone of the Las Vegas community for over 26 years. Their journey from a small iron shop to a leading provider of iron and steel services showcases the transformative power of the right financial backing. With the support of the Nevada State Development Corporation (NSDC) and the SBA 504 loan from NSDC, the Aguilars achieved remarkable business growth, ensuring long-term stability and success.
From Humble Beginnings to Major Milestones
LV Iron & Steel began in a modest iron shop focused on powder coating. Pete and Traci, both skilled in fabrication and construction, quickly grew their business. However, they reached a point where further expansion required significant financial resources. As Pete recalls, “We needed real banking support to fund our growth without daily stress and worry.”
The Turning Point: SBA 504 Loan from NSDC
The turning point came when LV Iron & Steel partnered with NSDC. The process, as Pete described, was smooth and supportive. “The people at NSDC were amazing. They answered all our questions and approached us in a way that made us feel comfortable,” he said.
Traci echoed this sentiment, highlighting their experience with NSDC’s Paula Gonzalez. “Paula stayed with us through three different loan packages. NSDC helped us purchase the building we had been leasing for 18 years. It was a big deal for us to finally own it,” Traci shared.
The Impact of the SBA 504 Loan
The SBA 504 loan program, facilitated by NSDC, enabled LV Iron & Steel to secure the property and invest in essential automation, significantly boosting their operational efficiency. This support not only provided financial stability but also bolstered Traci’s confidence. “Working with Paula improved my self-confidence. The NSDC team was instrumental in our success,” she added.
A Success Story for the Community
NSDC’s Executive VP and COO, Paola Gonzalez, emphasized the fulfillment that comes from helping small businesses like LV Iron & Steel. “It’s a joy to assist small business owners in taking the next step. Knowing we’ve helped businesses in Nevada grow brings immense satisfaction to our entire team,” she said.
The story of LV Iron & Steel is a testament to the profound impact of the SBA 504 loan program and NSDC’s unwavering support. With their new property and enhanced capabilities, Pete and Traci Aguilar are poised for continued success, serving the Las Vegas community with top-notch iron and steel products.
With Our SBA 504 Loans Options Everybody Wins!
Business owners keep more working capital in the business due to the favorable loan terms, down payment, and interest rate. Sellers get funds faster because of SBA’s faster approval time. Brokers earn commissions quickly and close loans that might not have qualified for conventional financing. Banks get a 50% LTV first lien on the building, typically resulting in a lower interest rate to the borrower. Neighborhoods benefit from increased economic development and additional jobs. Taxpayers are not affected as no tax dollars are used to fund the 504 Loan Program.
Easy Prequalification and Fast Approvals
We can prequalify applicants, saving everyone time in determining which properties might be most appropriate. Our staff will work with the borrower and banker from start to finish enabling most loans to close within 45 days.
Low down payment (usually 10%) and Low, Fixed Interest Rates
Small business owners receive up to 90% financing, allowing them to conserve valuable working capital. Start-up businesses and special purpose properties require an additional down payment.
Experienced staff and Excellent customer service
Personal attention from start to finish. We are the oldest, largest, and only statewide Certified Development Company (CDC) with Premier Certified Lender status in Nevada.
Longer Term of Repayment Means Lower Payments
A 10, 20, or 25-year repayment terms result in even payments. The bank’s loan is in first lien position and is typically amortized over a longer-term.
Ownership Equity in Real Property
Property owners can avoid the risk of ongoing lease payment increases along with possible tax advantages.
