RNDC Offers Low-Interest Loans to Rural Nevada Businesses - CEDA To Begin Its Own Revolving Loan Fund Soon

Christy Lattin
09/04/2025 05:00 AM

Author: Photo by Christy Lattin.

The Rural Nevada Development Corporation (RNDC) has spent more than three decades helping small businesses in Nevada’s rural counties secure financing when traditional banks could not. Mary Kerner, chief executive officer of RNDC, spoke recently at the Fallon Chamber of Commerce luncheon and explained how her agency can help small businesses around the state.

Founded in 1992 as a private nonprofit, RNDC began as a “lender of last resort,” Kerner said. Today, it operates as an “alternative lender,” providing low-interest loans to entrepreneurs and business owners across 15 rural counties. Headquartered in Ely with an office in Elko, RNDC has lent more than $55 million and helped create or retain more than 2,000 jobs.

As one of only four Community Development Financial Institutions (CDFIs) in Nevada, RNDC plays a key role in providing loans under the State Small Business Credit Initiative program. Funding partners include traditional banks, the U.S. Small Business Administration, the Economic Development Administration, and the USDA.

Loans can be used for a wide range of needs, including business purchases or startups, expansion, modernization, debt consolidation, equipment, or working capital. The organization also has more flexibility than most banks when it comes to collateral. Past examples have included homes, vehicles, trailers, and even livestock.

Applications for RNDC loans are not available online. Instead, applicants must submit paperwork directly to the nonprofit. A volunteer board reviews applications and takes a close look at each business owner’s financial history. That review includes credit scores, bankruptcies, and personal circumstances behind those financial challenges. Once approved, it typically takes about 30 days for funding to be released.

Along with small business lending, the RNDC has additional programs including down payment assistance, a weatherization program, homeowner rehabilitation, multi-family projects, and the I-80 Fund to support businesses along the Nevada Interstate-80 corridor.

For more information, check the Rural Nevada Development Corporation website at rndcnv.org or call 866-404-5204.