Few places convert tourism into big money the way the Entertainment Capital of the World does. Aside from huge casinos, hotels, nightclubs and area attractions, there are plenty of opportunities for small businesses to get a piece of the action.
Sometimes, though, competing with larger or more established businesses can make it difficult to thrive. In cases like these, a small business loan for your Las Vegas company can be just what you need to get ahead.
Small Business Landscape in Las Vegas
Every year, millions visit Sin City, whether for business or pleasure. Regardless of the reason behind their trip, though, Las Vegas tourists are spending money. It’s no surprise that lodging and food services make up the largest employment of small business workers in the state, according to the U.S. Small Business Administration (SBA).
In fact, downtown Las Vegas has more than 150 bars, coffee shops, restaurants, boutiques and nightlife entertainment.
New and existing small business opportunities can be seen in these Las Vegas neighborhoods:
- Symphony Park
- Medical District
- Arts District
- Fremont East Entertainment District
- Fremont Street Experience
Banks Offering Small Business Funding in Las Vegas
Here are a few conventional lenders offering commercial financing or small business loans in Las Vegas, NV. Also, talk to these lenders about a Paycheck Protection Program loan.
1. Bank of Nevada
Bank of Nevada is an SBA lender headquartered in Las Vegas. It is accredited by the Better Business Bureau (BBB), where it’s earned an A+ rating.
In addition to SBA loans, businesses in Las Vegas can apply for the following financing options here:
- Secured business loans
- Revolving lines of credit
- Equipment financing
- Commercial credit cards
- Hotel franchise financing
- Technology financing
- Mortgage warehouse lending
- Commercial real estate loans
2. Zions Bank
This Las Vegas area bank has received more than 2,100 WalletHub reviews and has an overall 4.4-star rating on the platform. Small business owners can apply for a business line of credit up to $50,000 with 3-year terms. Additionally, business access loans are available from $5,000 to $175,000 with 5-year terms. Business credit cards are also available.
3. US Bank
If you’re looking for SBA loans for your Las Vegas business consider US Bank. This bank also offers loans with fixed interest rates.
Additional financing options include these:
- Business loans (up to $1 million)
- Business lines of credit
- Equipment financing (up to $500,000)
- Practice financing
- McDonald’s franchise financing
- Commercial real estate loans (up to $10 million)
For companies that have been in business for 2 years or more, secured quick loans requiring collateral are available. Loans range from $5,000 to $250,000, with terms up to 7 years.
4. First Security Bank of Nevada
This bank is an SBA lender with Las Vegas locations. It has a 5-star Yelp rating and a 3-star Google rating. Commercial and small business loans available here include the following:
- Term loans
- Lines of credit
- Construction loans
- SBA 7(a) and 504 loans
- Business credit cards
- Equipment loans and leasing
- Land acquisition and development financing
5. Axos Bank
Axos Financial made Forbes’ 2021 list of America’s Best Banks. It’s also earned a 4.6-star rating from Bankrate.
In operation since 1999 and headquartered in Las Vegas, this bank offers the following commercial loan options:
- Real estate loans
- Equipment financing
- Construction loans
- Lines of credit and term loans (starting at $250,000)
Alternative Lenders for Las Vegas Business Financing
Often, small business loans with conventional lenders, such as the banks above, can take some time to be approved. In many cases, longer than many business owners can wait. Additionally, requirements to qualify for funding can be strict, with applicants needing to meet minimum time in business and credit score requirements.
Today, many small business owners who don’t meet bank or credit union requirements turn to alternative lenders. With short online applications, more flexible qualification requirements and fast turnarounds, these lenders broaden the business lending space. While more applicants may be approved for funding, they can expect shorter repayment terms, more frequent payment installments and higher interest rates.
Applying for Alternative Financing Through Fast Capital 360
At Fast Capital 360, we know that getting your foot in the door or taking your company to the next level is a big step. Our funding options have helped small businesses across the country achieve their personal goals.
Here’s how you’ll benefit:
Apply for a small business loan online in just a few minutes.
Because we partner with various lenders throughout the country, you could receive several funding offers.
After we receive your application, we’ll be in touch to review your financing options. You’ll have a dedicated Business Advisor standing at the ready to answer any questions you might have.
Get Your Business Loan Faster
Small Business Resources in Las Vegas
Here are a few resources you can turn to for help applying for a business loan, education, networking and more.
Nevada Small Business Development Center
Funded in part through a cooperative agreement with the SBA, this Small Business Development Center offers business advising on starting, expanding and managing a business. Additionally, classes and workshops are available on a variety of entrepreneurial topics, such as purchasing, government contracts, intellectual property, web design, marketing and more, some available in Spanish.
Nevada Women’s Business Center
This Las Vegas organization offers free education, training and support to women entrepreneurs as well as men. Take advantage of individualized business advising. Each year, business owners can take part in one or more of the center’s more than 125 workshops, which are in person or online. Additionally, the center works with Certified Development Financial Institutions to help entrepreneurs access small business loans.
Nevada Business Opportunity Fund
This organization for aspiring and existing entrepreneurs was created to assist low-to-moderate-income individuals in Las Vegas with business training, access to microloans and technical support. Business document templates (e.g., balance sheets, financial projections, cash-flow statements) and other resources can also be found on the organization’s website. The NBOF works to provide help specifically to women and minorities.