The SBA has granted approval for Great Basin Federal Credit Union to become one of the agency's lenders.

The $125 million cooperative in Reno, Nev., said it is the first new SBA lender in northern Nevada in more than nine years, and it is eager to help in the recovery of the local economy.

“Our community needs this now more than ever,” said Jennifer Denoo, chief operations officer at Great Basin FCU. “We believe we can fill a gap in our market to assist small businesses needing loans in the $50,000 to $500,000 range.”

The new SBA lender designation will allow the credit union to aid in the start-up or expansion of small businesses.

Great Basin FCU said it has been serving the Washoe County community for more than 62 years and is excited at this new opportunity to better serve its members' needs and support local business owners. 

“We are here to see the process through from beginning to end,” Denoo said. We have always prided ourselves in helping educate our members and support them in reaching their goals”

Denoo added, “So while we may not be able to give them a loan the day they come in, we will always make the time to listen to their dream and connect them with the resources they need to achieve it.”

Great Basin FCU serves more than 16,500 members.