SBA: Meadows Bank earns nationwide recognition for fiscal year 2024
There’s good news for Pahrump’s Meadows Bank, along with additional branches in the Southwest region.
According to the U.S. Small Business Administration (SBA), the bank earned a 16th place spot nationally, as a Small Business Administration (504) Lender, which dominated the regional banking landscape for fiscal year ending Sept. 30, 2024.
Impressive ranking
Additionally, the bank was named the No. 1 SBA 504 Lender in Nevada and No. 2 in Utah for fiscal year 2024.
“We are incredibly proud of these accomplishments,” said Cal Regan, President, Small Business Lending Division at Meadows Bank, in a news release. “Our strong national ranking, along with our top positions in Nevada and Utah, reflect our commitment to supporting small businesses, which are the backbone of our local and national economies. By leveraging SBA programs, we’ve been able to provide crucial financing that helps businesses expand, create jobs, and drive economic development in our communities.”
Emphasizing teamwork
Additionally, officials stated that Meadows Bank’s success in SBA lending is attributed to its team of lending professionals and their understanding of the unique needs of small businesses in Nevada, Utah, and across the nation.
“The bank’s commitment to these programs has resulted in millions of dollars in financing for small businesses across various industries,” the release said.
On a final note, bank officials said there are many examples of how Las Vegas and Pahrump area-based businesses were helped, such as a brewery that needed to expand.
“Our loan was for additional brewing equipment because they were at capacity,” Meadows Bank noted in part, according to the release.
A Meadows Bank loan also provided for a gun range in Pahrump, the release stated.
Contact reporter Selwyn Harris at sharris@pvtimes.com. On Twitter: @pvtimes
