Guest column written by Chris Schlaffman, VP of Commercial Lending at Create Credit Union (formerly CCCU) For many small business owners in Southern Nevada, purchasing commercial real estate or investing in major equipment is an important step toward long-term growth. These investments can help businesses stabilize operating costs, build equity and expand their capabilities. However, securing financing for these types of projects can sometimes feel challenging, especially for businesses that want to preserve their working capital. One financing option that continues to stand out for long-term business investments is the SBA 504 loan program. SBA 504 loans are designed specifically to help small businesses acquire fixed assets such as owner-occupied commercial real estate or heavy equipment. Through this program, businesses can access long-term financing with structured terms that support growth and stability. SBA 504 loans are provided through the U.S. Small Business Administration (SBA) in partnership with approved Certified Development Companies (CDC) and business owners can access them through participating lenders, including local credit unions. As the top SBA lender in Nevada , Create Credit Union (formerly Clark County CU) works closely with established CDCs to help guide local business owners through the SBA 504 loan process. Our role is not only to provide financing but also to help business owners understand the program, evaluate whether it aligns with their goals and navigate the application process from start to finish. Joshua Goldman, a physician from Vegas Plastic Surgery Institute shared that after facing challenges securing financing through traditional banks, he began exploring credit unions as an alternative. “When we decided to start a new practice, the large banks barely considered us,” said Goldman. “Create Credit Union really took the time to understand our business plan and the value we brought to the community.” For business owners who are planning a major investment, understanding how the SBA 504 program works is an important first step. What are the Benefits of an SBA 504 Loan? One of the reasons SBA 504 loans remain a popular financing option is the structure of the program itself. The SBA designed the program to help small businesses make long-term investments while maintaining financial flexibility. There are several features that make the SBA 504 loan program particularly attractive for growing businesses in Southern Nevada. Down payment as low as 10% A key advantage of SBA 504 loans is the relatively low-down payment requirement. Many traditional commercial loans require business owners to put down at least 20 percent or more toward a real estate purchase or equipment financing, which many new or small businesses struggle to put down. With an SBA 504 loan, business owners can contribute around 10% of the project cost. This requirement allows business owners to move forward with important investments while preserving their working capital that can still be used to support their day-to-day operations like managing their payroll, inventory and operational expenses while continuing to grow. Repayment terms range from 10 to 25 years Another benefit of the SBA 504 loan program is the longer repayment terms. Depending on the type of project being financed, repayment periods generally range from 10 to 25 years. Longer terms help reduce monthly payment amounts and create more predictable cash flow for the business. When financing aligns with the long-term value of an asset such as a commercial building or major equipment. It can make financial planning much easier for business owners. Fixed Interest Rates SBA 504 loans also offer fixed interest rates on the portion of the loan provided through the Certified Development Company. Fixed rates provide stability and predictability, allowing businesses to plan their budgets without concern about interest rate fluctuations. In today’s financial environment, that predictability can be a valuable advantage. Knowing what your payment will be years down the road allows business owners to focus more on running their business and less on market uncertainty. How to Qualify for an SBA 504 Loan? While the SBA 504 loan program offers attractive benefits, businesses must meet certain eligibility requirements in order to qualify. These requirements are intended to ensure the program supports small businesses that demonstrate the capacity for responsible growth. First, businesses must meet the SBA’s size and operational guidelines. Eligible businesses must operate as for-profit companies in the U.S. In addition, the business must have a tangible net worth under $15 million and an average after-tax net income below $5 million over the past two years. Because SBA 504 loans are generally used for real estate or equipment purchases, the financed asset typically serves as the primary collateral for the loan. For commercial real estate projects, the business must also occupy a majority portion of the property. In most cases, the business must occupy at least 51 percent of an existing building or 60 percent of a newly constructed property. Beyond these thresholds, lenders evaluate the overall financial strength of the business. Credit history, both personal and business, plays a crucial role in the evaluation process. Lenders also review financial statements, tax returns and existing debt obligations to better understand the business’s financial position. A solid and clear business plan can also help strengthen an application. The plan should outline the purpose of the loan, the expected benefits of the investment and how the project will support the long-term business growth. Meeting these requirements helps ensure that the program supports owner-operated businesses that are investing directly in their operation and communities. Magali Santa of Santacruz Industries LLC shared, “The SBA loan allowed me to purchase the property and building. Owning the property provides stability for the businesses and allows me to continue building and expanding what my brother started.” Another business owner, John Fernandes of Busted Knuckle Mobile Mechanics also reflected on their experience getting an SBA loan. “With the help of the SBA loan through Create Credit Union (formerly CCCU), I was able to expand my mobile repair business by purchasing commercial real estate and opening a dedicated repair facility. In our first year operating from the new location, we doubled our sales.” Stories like these highlight the impact SBA 504 loans can have for small business owners. By providing accessible financing for long-term investments such as property and equipment, the program helps entrepreneurs strengthen their operation, create stability and position their businesses for future growth. Strengthening Your SBA 504 Loan Application In addition to eligibility requirements, understanding what lenders typically look for and preparing in advance can position your business for a smoother application experience. Maintain Strong Credit History Lenders review both personal and business credit when evaluating an SBA loan application. Consistently paying bills on time and managing credit responsibly helps demonstrate financial reliability. Business owners may also benefit from building business credit, monitoring their credit reports regularly and correcting any errors that could affect their score. Demonstrate Healthy Cash Flow A business’s ability to generate steady income is an important part of the review process. Lenders want to see that the business can comfortably manage loan payments while maintaining day-to-day operations. Many lenders evaluate the debt-service coverage ratio (DSCR), often looking for a ratio of about 1.2 or higher, which indicates the business generates sufficient income to cover its debt obligations. Understand Collateral Requirements SBA 504 loans are typically secured by the real estate or equipment being financed, which can make the program more accessible compared with some traditional financing options. Because the asset itself often serves as the primary collateral, many businesses find the program to be a practical way to finance long-term investments. Prepare Complete and Accurate Documentation Having organized and accurate documentation can help streamline the loan review process. Lenders typically request financial statements, tax returns and banking records to evaluate the business’s financial position. Working with an accountant or financial advisor can help ensure these documents are complete and consistent before submitting an application. Develop a Strong Business Plan A well-defined business plan can further strengthen an application. The plan should clearly outline the purpose of the loan, the expected benefits of the investment and how the project will support the business’s long-term growth. Providing market insights, financial projections and a clear strategy help lenders better understand the vision for the business and the impact the investment will have. Show Business Stability and Industry Experience While many lenders prefer businesses with an established operating history, newer businesses may still qualify if they demonstrate strong management experience and a clear growth strategy. Highlighting leadership experience and industry knowledge can add confidence to the application. Meeting these requirements helps ensure the SBA 504 program continues to support owner-operated businesses that are investing directly in their operations and strengthening the communities they serve. Working with Local Credit Unions For business owners exploring SBA financing, working with a local lender can make a meaningful difference in navigating the process. Credit unions, as not-for-profit financial institutions, often provide a more personalized and approachable experience for their members. In addition, local credit unions typically have a strong understanding of the regional business environment and maintain close relationships with development partners that support SBA lending. These connections can help streamline the process and provide business owners with guidance as they move through each stage of securing financing. The application process for an SBA 504 loan can be lengthy and complex, but the benefits such as low interest rates, longer repayment terms, and access to larger amounts of capital can make it worthwhile. For some businesses, securing an SBA 504 loan is about more than the expansion. For Magali Santa, it’s about carrying forward a family member’s dream. As she explained, “It was more than just a financial transaction — it helped secure the future of the businesses and allowed me to honor my brother’s vision while continuing to grow as an entrepreneur.” Chris Schlaffman is the Vice President of Commercial Lending for Create Credit Union (formerly Clark County Credit Union). He can be reached at schlaffmanc@createcu.com or 702-939-3214.

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 The holidays are all about giving, joy, and creating unforgettable memories and Tivoli Village is the perfect place to do just that! This December, we’re thrilled to host two incredible events that bring our community together in the spirit of generosity and celebration: Toys for Tots. Mark your calendars and join us for these heartwarming experiences! On Friday, December 12, from 4:30 PM to 7:00 PM, Gunny Bear is all “wrapped up” in the holiday spirit, and we invite you to join him in spreading hope and joy to children in need. This magical evening will be filled with festive fun, including live music to set the holiday mood, photos with Santa for the perfect seasonal keepsake, and a chance to meet the UNLV Rebel Hockey Team along with members of the Marine Corps. Bring a new, unwrapped toy to donate and help light up the holidays for families in need. As a thank-you for your generosity, you’ll receive $5 off a UNLV Rebel Hockey ticket, a little extra cheer for your holiday season! Don’t miss this opportunity to give back while enjoying music, community, and the magic of the holidays at Tivoli Village. Tivoli Village is a captivating blend of European elegance and contemporary lifestyle, where every moment becomes a celebration. From dancing in the streets with loved ones to exclusive events in The Piazza with friends and family, we curate an unrivaled experience. Discover our carefully selected retailers, ranging from luxurious brands to one-of-a-kind boutiques, anchored by Restoration Hardware’s RH Las Vegas. Indulge yourself in enticing restaurants for a girls’ night out at Echo & Rig Butcher and Steakhouse, savor late-night drinks and cigars with the boys at La Casa, or work out at Tivoli Village’s exclusive upscale members-only gym, Kilo Club. For more information, visit https://tivolivillagelv.com or follow along on Instagram and Facebook.

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Quick Summary Online banking security is crucial as cyber threats grow. Top threats include spoofing, malware, public Wi-Fi risks, and weak passwords. CCCU shares essential tips on how to protect your finances. In today’s fast-paced digital world, online banking security is more important than ever. While digital banking offers unmatched convenience, staying vigilant ensures a safe and secure banking experience. Here are the top four online banking security threats and tips to avoid them: 1. Spoofing Scams Spoofing happens when fraudsters manipulate caller IDs, email addresses, or websites to appear as legitimate companies. Their goal is to steal your bank information by asking you to click links or answer questions pertaining to your bank account or login credentials. Tip: If in doubt, directly reach out to your financial institution using their official contact details. 2. Malware and Viruses Malware can infect devices, putting your personal and financial data at risk. Cybercriminals often use malicious software to steal banking details and exploit sensitive data for their own gain. Tip: Regularly update your devices and install trusted antivirus and anti-malware software. Older devices may not accept current updates, making them a risk. 3. Public Wi-Fi Vulnerabilities Public Wi-Fi networks are often unsecured, making it easy for hackers to intercept data. Tip: Never access your online banking account on public Wi-Fi. Use a secure, private network or a virtual private network (VPN). 4. Weak or Reused Passwords Using simple or reused passwords increases the risk of unauthorized access to personal and financial accounts. Tip: Create strong, unique passwords for each account. Use a combination of upper and lowercase letters, numbers, and symbols. Additional Safety Tips: Enable multifactor authentication (MFA) for extra security. Download banking apps from verified sources only. Monitor your accounts regularly for suspicious activity and set up account alerts. Log out after every session, especially on shared devices. Conclusion Protecting your online banking security starts with staying informed and proactive. Remember that knowledge is key to safeguarding your finances, so always verify unexpected messages or calls and think twice before clicking any links. CCCU offers resources to help you fight fraud and scammers; visit www.ccculv.org/Fraud-Protection or call us at 702-228-2228 to report any fraudulent transactions.

We’re Select Health, a nonprofit health plan that loves small businesses. That’s why we’ve spent the last 40 years offering affordable health benefits to businesses.