CARSON CITY, Nevada – (COMMERCIAL THREAD)–The first one USDA Business and Industry CARES Act loan, intended to protect small U.S. farms and businesses amid the COVID-19 pandemic, visited a fish farm in Iowa and was negotiated by Carson City More business loans (GCL). These CARES Act loans provide working capital to help rural businesses prevent, prepare for, or respond to the effects of the coronavirus pandemic.
Joe Sweeney, owner and operator of Eagle’s Catch, and his team grow high quality tilapia in the small town of Ellsworth, Iowa – 499 people. Joe and many other small-town American farmers are the backbone of the nation’s economy and food systems. , but they were certainly not immune to the challenges brought on by the pandemic. The collapse of small American farms could lead to food insecurity for many Americans, making financial protection for these businesses crucial.
“Securing this $ 2.3 million loan will allow Eagle’s Catch to continue to thrive despite the challenges posed by COVID-19,” Sweeney said. “We had heard that Greater Commercial Lending was one of the main resources in the country for this type of loan. The GCL team worked with us to ensure we had the best chance of receiving this loan and to protect our business so that Eagle’s Catch could continue to provide safe, fresh and sustainable seafood to American families in engaging rural communities. ”
“Eagle’s Catch is a perfect example of how the people of Iowa are working with stakeholders nationwide to drive great investment, job creation and agricultural diversification opportunities in our state,” said Mike Naig, Iowa Secretary of Agriculture. “Joe and his Eagle’s Catch team are going to make waves by reducing the United States’ reliance on Chinese seafood and growing a new, sustainable protein right here in Iowa. ”
Greater Commercial Lending, a subsidiary of Greater Nevada Credit Union (GNCU), are leaders in the Small Business Administration Paycheck Protection Program (SBA PPP) and CARES Act loan brokerage for businesses in Nevada and beyond. GNCU and GCL entered into 5,901 PPP SBA loans for a total of $ 583 million. This included more than 2,100 loans to Nevada-based companies for more than $ 137 million, funding 17,296 jobs.
“This is an unprecedented time for businesses across the country,” said Jeremy Gilpin, executive vice president of GCL. “Through the CARES Act programs, we can help save and create new jobs in rural America, helping businesses access capital during these difficult times.
To learn more, visit www.gncu.org/Greater-Commercial-Lending.
About the Greater Nevada Credit Union:
The Greater Nevada Credit Union (GNCU) is headquartered in Carson City, Nevada, and has been helping Nevada residents meet their financial needs since 1949. The credit union serves over 75,000 consumers and small businesses, has more than one billion dollars in assets and is the largest Nevada domiciled community financial institution. GNCU’s subsidiaries include Greater Commercial Lending, Greater Nevada Mortgage, and Greater Nevada Insurance. GNCU has historically been recognized as the best financial institution in many of its service areas, a leading employer with the Reno / Tahoe Best Places to Work awards and three times the USDA National Lender of the Year. GNCU is also the title sponsor of Greater Nevada Field in Reno. For more information call (800) 421-6674 or visit www.gncu.org.