Success story · Fabrication
LV Iron & Steel Bought the Building It Had Leased for 18 years
Pete and Traci Aguilar, the founders of LV Iron & Steel in Las Vegas, used an SBA 504 loan from Nevada State Development Corporation to buy the building they had leased for 18 years and to invest in the automation that runs their shop today.
| City | Las Vegas |
|---|---|
| Industry | Structural steel, carports and ornamental iron fabrication |
| What the loan financed | Purchase of the building the company had leased, plus automation equipment |
The situation
LV Iron & Steel began as a modest iron shop focused on powder coating. Pete and Traci Aguilar, both skilled in fabrication and construction, grew it over more than 26 years into a leading provider of iron and steel work in Las Vegas. Growth eventually needed capital the shop didn't have on hand. As Pete put it: “We needed real banking support to fund our growth without daily stress and worry.” And for 18 years, the building they worked in belonged to someone else.
The deal
NSDC delivered the SBA 504 portion of the financing that let the Aguilars buy their building and invest in automation. Paola Gonzalez, NSDC's Executive Vice President and COO, worked the file through three different loan packages before the one that closed.
“The people at NSDC were amazing. They answered all our questions and approached us in a way that made us feel comfortable.”
Pete Aguilar, founder, LV Iron & Steel
In the owners' words
“Paola stayed with us through three different loan packages. NSDC helped us purchase the building we had been leasing for 18 years. It was a big deal for us to finally own it.”
Traci Aguilar, founder, LV Iron & Steel
The outcome
The company owns the property it operates from, and the same financing let it invest in essential automation that raised the shop's efficiency. “Working with Paola improved my self-confidence,” Traci said. “The NSDC team was instrumental in our success.”
Watch the story
NSDC's full Success Story film with Pete and Traci Aguilar, on NSDC's YouTube channel.
