Genoa business owners get $200,000 loan for nursery
Business owners Duncan and Mary Getty, of Genoa Tree and Landscape Materials, recently received a $200,000 loan from the state-funded Rural Nevada Development Corp.
The RNDC lends to small businesses through funds allotted by USDA Rural Development, a partnership which has provided loan funds to 6 or 7 other businesses in Douglas County.
Originally, when the Gettys had their sights set on expansion, they applied for a business loan with a local bank. After seeing their application filtered through a complicated, confusing string of bank mergers, the Gettys were dismayed to learn they had been turned down.
“I had trees from out of state already ordered and on their way, and no loan money to pay for them,” Duncan Getty said.
Genoa Tree’s state-assisted loans, in the amount of $200,000, took less than 30 days to process, Getty said.
“I never even had to go down there; they came right to my door,” Getty said.
“We understand that these business owners are busy people, and don’t have the time to come and sit in an office, so we try to send our representatives to them, to make their loan as user-friendly as possible,” said Jodie Earnst, project director for the Community Business Resource Center in Carson City. “Mr. Getty was very easy to work with, because he knows his business and financial commitments very well – which expedited the process.”
On Saturday, on the site of Genoa Tree and Landscape Materials, Sen. Richard Bryan (D-Nevada) presented officials from Rural Nevada Development Corp. with a check for $750,000. The money will go to supplement the existing loan pool that RNDC already has established for the 15 rural counties that it serves.
“Not all businesses can qualify in their early stages for conventional business loans, and RNDC has been effective in helping to fill that gap,” Bryan said.
The loan funds have allowed Genoa Tree and Landscape to expand their tree farm from 30 to 55 acres, purchase a truck and other materials, and hire new employees.
“I don’t have anything negative to say about the entire process,” said Getty. “I would definitely recommend any business to apply.”
Genoa Tree and Landscape Materials sells large trees and is a licensed contracting business.
To qualify for a RNDC loan, a business must have been turned down by a bank or other financial institution. For more information, call 841-1420.