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Best Small Business Loans in Las Vegas, NV

Sept. 27, 2019, 3:29 a.m.

A business loan is a valuable lifeline when your company needs capital to grow or short-term help to cover expenses. A good loan offers a reasonable repayment plan and an affordable interest rate. Our partners at ConsumerAffairs researched the best business loans in Las Vegas to help your company succeed.

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. KTNV may receive compensation from our partners. Learn more.

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#1
RECOMMENDED
Seek Business Capital

Startup Consulting • Business Services

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#1 MOST POPULAR
Seek Business Capital
Seek Business Capital
Features
  • Available in Las Vegas
  • More than 92% funding approval rate
  • Same-day funding approvals
  • Apply online
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#2
Imperial Advance
Imperial Advance
Features
  • Available in Las Vegas
  • Financial consulting offered
  • Flexible loan programs
  • Get funds in 24 hours
Read More
VISIT WEBSITE
CALL IMPERIAL ADVANCE
(888) 633-2083
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#3
National Business Capital
National Business Capital
Features
  • Available in Las Vegas
  • More than $1 bilion in funding secured
  • Multiple financing options
  • Expert financial advisors
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Nevada State Bank
Nevada State Bank
Features
  • M-Th: 9am - 5pm
  • F: 9am - 6pm
  • Closed Sat and Sun
  • nsbank.com/branch-locator/craig-jones
Location
5840 W. Craig Rd., Ste. 140
Las Vegas, NV 89130
(702) 706-9180
Meadows Bank
Meadows Bank
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • meadowsbank.bank
Location
8912 Spanish Ridge Ave., Ste. 100
Las Vegas, NV 89148
(702) 471-2265
BG Capital Funding Group
BG Capital Funding Group
Features
  • Open 24 hours
  • bgcapitalfundinggroup.com
Location
10161 W. Park Run Dr., Ste. 150
Las Vegas, NV 89145
(702) 605-3100
Bank of Nevada
Bank of Nevada
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • westernalliancebancorporation.com/bank-of-nevada-home
Location
2700 W. Sahara Ave.
Las Vegas, NV 89102
(702) 248-4200
Bank of George
Bank of George
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • bankofgeorge.com
Location
9115 W. Russell Rd., Ste. 110
Las Vegas, NV 89148
(702) 851-4200
Clark County Credit Union
Clark County Credit Union
Features
  • M-Th: 9am - 5pm
  • F: 9am - 6pm
  • Closed Sat and Sun
  • ccculv.org
Location
709 Shadow Ln.
Las Vegas, NV 89106
(702) 228-2228

How to get a business loan in Las Vegas

skyline

Nevada relies on small businesses to support the state’s economy. The U.S. Small Business Administration classifies more than 99 percent of the companies in the state as small businesses. These companies employ more than 42 percent of the state’s population, helping Nevada’s employment rate rise every year for the past few years.

There are many reasons business owners in Las Vegas seek outside funding. You might need to hire employees, deal with an emergency or get a new company off the ground. Business loans are also used for marketing to reach new clients or to purchase new equipment to expand. Depending on your company’s needs, different business loans might work better for you.

Some of the most common types of business loans are:

  • Term loans provide a company with upfront cash that you pay back with interest over a predetermined period. The loan’s period of repayment can be as short as a few months or up to more than 20 years.
  • Business lines of credit are similar to credit cards and allow borrowers to draw out funds to a certain limit. The borrower only pays interest on the funding used.
  • Equipment financing loans are usually long-term loans that allow a company to buy necessary equipment. The purchased equipment serves as collateral for the loan.
  • Accounts receivable loans are short-term loans that provide companies with a lump sum of cash. The company uses its unpaid invoices for collateral.
  • Merchant cash advances give a company cash upfront that is repaid by withholding a certain percentage of the company’s daily credit and debit card sales.
  • SBA loans generally require excellent credit. These loans are backed by the U.S. Small Business Administration and distributed through third-party lenders. They have low interest rates but a rigorous application process.

Applying for a business loan in Las Vegas

Many companies provide business loans, including banks, credit unions and online lenders. Banks tend to have strict requirements and require a credit score of at least 680. Online and nontraditional lenders are more flexible and tend to look at your business plan and growth potential to decide whether your company qualifies for a loan.

When applying for loans, be sure to prepare any documents the lender may need to see, including:

  • Accurate, up-to-date financial statements
  • Financial projections
  • A business plan or explanation for the loan need and goals
  • A list of assets that can serve as collateral, including equipment, inventory, cash deposits or property.

If you don’t have a business plan, many lenders have consultants available who can help you create one and provide other advice on starting or growing your company.

Comparing business loans in Las Vegas

When comparing loan offers, be sure to pay attention to the total loan cost, which is the amount you pay over the length of the loan. Besides the interest rate and loan term, lenders may charge additional fees that add to the cost. These include:

  • Origination fees pay for the cost of processing the loan
  • Referral fees are charged by loan brokers by referring you to a lender
  • Packaging fees cover the cost of preparing a loan application to present to a lender
  • Prepayment penalties may apply if you pay the balance of your loan before the completion of the agreed term

These costs often come out of the loan amount distributed to you, so make sure your loan amount is enough to cover its intended purpose after paying any initial fees.

Seek Business Capital

Seek Business Capital

Seek Business Capital provides funding estimates within two hours. The borrowed money can be used to cover anything your business needs, and business owners seeking a loan in Las Vegas don’t need perfect credit to apply. Many Las Vegas customers note that they were approved for a higher amount than they expected.

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Imperial Advance

Imperial Advance

CALL IMPERIAL ADVANCE

(888) 633-2083 VISIT IMPERIAL ADVANCE

Las Vegas business owners who need quick funding appreciate Imperial Advance’s fast service. Loans are funded within 24 hours, and the company provides business consultants to help you decide which sort of loan works best for you. Las Vegas business owners love Imperial Advance’s simple application process.

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National Business Capital

National Business Capital

National Business Capital connects Las Vegas borrowers with a global marketplace of more than 75 lenders. Over $1 billion of funding has been secured on the platform. The application process is simple and straightforward, and the company’s team of advisers helps you decide on a loan type. Las Vegas customers praise the company’s helpful advice.

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Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.