Virgil's Corner

banks sign up for 'patriot' loans

About 10 banks in Nevada have signed up for the new business loan program that's targeted to verterans, active duty memebers of the military and their spouses.

The Patriot Express loans are available up to $500,000, with Small Business Administration guaranteeing up to 85% of loans up to $150,000 and 75% for loans above $150,000, said David Leonard, senior area manager for SBA in Reno. 

Along with the institutions that won early approval, Leonard said several banks have applied for the program.  Among northern Nevada lenders who alread have been approved, he said, are Nevada State Bank, Bank of America, US bank and Great Basin Bank.

Elko-based Great Basin Bank became the first Nevada-based lender to win authorization for the program.

Leonard said that only one loan so far has been made through the program in Nevada.  About 135 loans nationwide have been made through Patriot Express.

SBA says the program is based on a streamlined electronic application process which speeds response.  Interest rates, the agency says, runs from 2.25% to 4.75% over prime.

Leonard said he's drumming up interest in the program through presentations to members of the the Nevada National Guard as they return from Iraq.  He's also talking with other veterans organizations throughout the state.

acticle found in the Northern NV Business weekly, Monday September 10, 2007 written by NNBW staff

New Skywalk

"Conventioneers head from the convention center to the Atlantis won't face the perils of rushing traffic or frigid northern Nevada winds while crossing Peckham Lane as the Atlantis received final approval on designs for an approximately 400 fort enclosed skyway.  It will contact the center's North Hall exit to the south side of the resort's $50 million expansion." according to Monday september 10, 2007 edition of Northern NV Business Weekly, by Rob Sabo.  This project should be completed by third quarter 2008. 

Legends at Sparks Marina

Yesterday, September 5, 2007, 13 businesses committed to be a part of the Legends at Sparks Marina.

Some of the businesses that committed are:Harry & David fruit and gourmet food store, Forever 21, Cantina Corona, BCB Girls, BCBG, Adidas, Sunglass Staion and Lane Bryant.  As far as restuarants that have committed are: America's Roadhouse, Hot Dog Hall of Fame, Hash Housea Go Go, Chili'sGrill and Bar and SegaWorld Sports Grille. 

This new development plans to open October 2008. 

Employment

According to the Northern NV Business Weekly posted on August 29, 2007

The Nevada Commission on Economic Development says the the 300 jobs added at Microsoft Licensing in Reno in the past 12 moths were the largest expansion of employment anywhere in the state.  also in the top three:  The 200 jobs to be added by PetSMart at its warehouse at Tahoe Reno Industrial Center.

133rd Nevada State Fair

The Nevada State Fair opens its gates today for the 133rd time.  The fair will run from today until Sunday, August 26th held at the Livestock Event Center.  Admission is $7 general and for senior and children under 10 are free.  Always a great time, between the exhibits, livestock, food, and rides.  For more information visit www.nvstatefair.com

Check out the happenings around Reno

I have updated the my calendar which will show you all the events that are happening in and around Reno.  I hope that you will be able to get out and enjoy some of them!

No decision

On August 1st the Reno Planning Commission heard from a several dozen residents on the approval to re-zone  residential area from 55 ft to 360 ft., to build the condo/high rise project south of Reno.  The residents of south Reno main conern was the traffic.  The Reno Planning Commission has not made a decision at this time and will wait until traffic studies have been preformed. 

A new look for south Reno?

This was posted in the RGJ on 8/1/07 written by Susan Voyles

"Four condominium towers up to 30 stories tall, altering the skyline of south Truckee Meadows, could be built under a zoning change in a project to be considered toning by the Reno Planning Commission.

At the south edge of the South Meadows Business Park, the 16 acre South Blvd. project would contain up to 1,726 condos and 130,000 square feet of space for shops, restaurants and offices.  A zoing change to boot the hieght limit from 55 feet to 360 feet is being sought."

If you would like more on this article you may visit www.rjg.com

I will be following this, to see if change is going to happen south of Reno.

Sunshine & Nevada

According to the No. Nevada Business Weekly July 30, 2007 issue acticle by Rob Sabo, "Business Builders see growth, expansions" , paragraph 3, "With the US Department of Energy ranking Nevada first in solar resources with 250 sun days per year, and second in production of geothermal power, the state is will posistioned for explosive growth in clean energy resources.  Nevada currently has 15 existing geothermal plants, 13 of which are in Greater Reno-Tahoe. "

This is great news for Reno/Sparks area.  This means we could be on the forfront of business's going "green".

RENO RODEO

The Reno Rodeo is in town.  It started today June 15th and goes to June23rd.  All of the events are held at Reno Livestock Events Center.  visit www.RenoRodeo.com for more information.