Success story · Safes and security
“The 20% down Was Not Even Achievable”
Jim Dillon owns Nevada Safes in Las Vegas. On a conventional commercial mortgage the down payment was out of reach. The SBA 504 structure is what changed the answer.
| City | Las Vegas |
|---|---|
| Industry | Safes and security |
| What the loan financed | The building the business operates from |
| NSDC filmed this story | 2020 |
The business
Nevada State Development Corporation filmed Jim Dillon, owner of Nevada Safes in Las Vegas, about how an SBA 504 loan helped his business.
The obstacle
The barrier was never the monthly payment. It was the cash a conventional commercial mortgage wanted up front — money that otherwise stays in the business as inventory and working capital. The 504 structure is built to lower exactly that number.
“I would not own this property if it wasn’t for them, working with my partner bank. I would not have been able to come up with the 20% down. That was not even achievable.”
Jim Dillon, Nevada Safes
Watch the story
NSDC’s Success Story film, on NSDC’s YouTube channel.