Lexicon Bank now has the ability to approve loans faster under the SBA 7(a) Program
LAS VEGAS, April 5, 2022— Lexicon Bank, Southern Nevada’s community-focused banking partner centered on local businesses, recently achieved the “U.S. Small Business Administration Preferred Lender” (SBA) designation, giving the bank the ability to provide small business loans to more companies and, in many cases, faster than ever before. With this delegated authority, Lexicon Bank now has the ability to approve loans under the SBA 7(a) guarantee program on its own without the separate approval of the SBA.
Under the Preferred Lenders program, the SBA gives select lenders more authority to process, close, service, and liquidate SBA-guaranteed loans.
“SBA preferred lending status is a natural addition to the bank’s mission in providing the best service to sole proprietors and businesses as they grow and getting them the yes when they need it most,” said Leo Moschioni, EVP/Chief Credit Officer at Lexicon Bank. “It also further strengthens Lexicon’s commitment to provide credit to businesses to help support and grow local economies”
Since its inception, Lexicon Bank has been at the forefront of leading the charge in business lending, with cutting-edge lending solutions for the unique needs of Nevada businesses. Lexicon was a major player in the SBA Paycheck Protection Program (PPP) and remains committed to providing lending solutions that Southern Nevada needs most. Lexicon secured more than $115 million in funding for over 600 small businesses during the first round of PPP, including restaurants, non-profits, gaming operators and sole proprietors. As a result of the team’s speed, urgency and commitment to meeting clients’ needs, Lexicon Bank helped save more than 14,500 jobs and supported the community it calls home.
With Lexicon Bank’s rapid growth, the Bank is doubling down on business lending needs by doubling the size of its relationship management team to maintain its personalized, high-touch attention to its growing portfolio of banking clients. Joining Mindy Kermes, Ray Lucero and April Wilson, the Bank welcomed Isabel Alvarado, Terence Davis and Julie Higgins. Each new team member brings strong local knowledge in banking and a passion for the community.
For more information on Lexicon Bank’s lending services and how to apply visit lexiconbank.com.
###
ABOUT LEXICON BANK
Founded in 2019, Lexicon Bank is Nevada’s community-focused banking partner. Lexicon Bank provides private, personal, comprehensive banking services to business and personal banking customers, placing an emphasis on creating and nurturing a long-term relationship. By providing personalized services to all customers, Lexicon Bank helps to foster Southern Nevada’s economy and community – ultimately helping to grow the Las Vegas local business economy. The bank is redefining banking as it should be in the Las Vegas Valley and Southern Nevada by creating a private bank for small businesses no matter the size. Lexicon Bank is located in Tivoli Village at 330 S. Rampart Blvd., Suite 150. The bank is open from 9 a.m. to 5 p.m. Monday through Friday, 10 a.m. to 2 p.m. on Saturdays, and can be reached by phone at (702) 780-7700 or online at lexiconbank.com. Lexicon Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
Follow us on social media at @lexiconbank on Twitter, Instagram, LinkedIn, and Facebook at facebook.com/lexiconbank/.
Media Contacts
Stephanie Downing
Revenue Media Group
p: +1 833-202-1300, ext. 404
c: 502-472-7458
e: stephanie.downing@revenuemediagroup.com
