Updated Information on PPP Loan Servicing and Forgiveness Process
We have been humbled and inspired by partnering with thousands of businesses both in Nevada and around the country during this time of uncertainty. The volume of applications was unprecedented, and so was our success rate! To assist with loan forgiveness and other servicing requests, many of the PPP loans originated through Greater Nevada Credit Union (GNCU)/Greater Commercial Lending (GCL) have been transferred to Fountainhead Commercial Capital LLC.
Why is Greater Nevada turning over the service of our loan to another provider?
The response to the SBA PPP program was well beyond the normal means of GNCU and GCL to service effectively. We authorized more than 7,500 loans at last count. This unprecedented volume required us to dedicate employees from other divisions and parts of the organization to keep up with processing the applications. That was part of our commitment to fund as many loans in this program to help out businesses around the country. That level of resourcing is not sustainable over the long haul. We are committed to a good and timely response to all of our borrowers. To best ensure our members have the best outcomes possible, we moved loan servicing responsibilities to an organization with more capacity and resources.
Transfer notifications were sent out to businesses starting in mid-June to announce this transition. If your business did not receive a letter to alert of a transfer, then your PPP loan servicer will continue to be GCL.
Fountainhead Commercial Capital LLC
3216 West Lake Mary Blvd.
Lake Mary, FL 32746
Additional PPP Forgiveness Resources
Full information on loan forgiveness for GCL serviced loans will be forthcoming, and we kindly ask you please check back at a later time. If you have an urgent question or concern, please contact us through our dedicated PPP hotline at (775) 886-1966.
You are invited to learn more about the SBA's PPP Interim Final Rule for Loan Forgiveness through the button below.
PPP Interim Final Rule for Loan Forgiveness at SBA.GOV
PPP Frequently Asked Questions (FAQs)
FULL INFO ABOUT THE PPP AT SBA.GOV
You are also invited to view a free recording of a recent webinar, hosted by the Small Business Development Center of Nevada, about how to be best prepared for PPP loan forgiveness.
Webinar: Loan Forgiveness with the Nevada SBDC
Greater Commercial Banking Options for Nevada Small Businesses
We know so many Nevada small businesses are still on the road to recovery and will need a strong partner along the journey. As a member-owned, local financial institution, GNCU is here to help. We are all in this together, and together is how we will build a Greater community. This includes Member Commercial Loans, several Commercial Checking options that automatically include free online and mobile banking access, and competitively-priced Merchant Services to name only a few.
COMMERCIAL BANKING WITH GNCU