Bank of Nevada

Small businesses are increasingly vulnerable to financial fraud, and it’s important to understand the risks. Western Alliance Bank recently hosted a conversation addressing how to defend against some of the most prevalent types of fraud, including: - Check fraud: This prevalent scheme involves washed or altered checks. - Digital payment fraud: Cybercriminals exploit weaknesses in digital payment systems to steal funds. - Email compromise: Fraudsters impersonate legitimate businesses to trick others into transferring funds. - Wire fraud: Criminals use wire transfers to initiate unauthorized fund transfers. - Account takeover: Hackers gain access to business accounts to steal funds or commit other fraudulent activities. Learn about other risks and ways to stay informed. Read more: https://lnkd.in/gCKUiBud

Are you looking to acquire a business, purchase a building or secure working capital for your small business? If so, an SBA loan might be the right financing option for you. SBA loans can have lower down payments and longer, more flexible terms, making them a compelling option for many small business owners. Read our article about how to determine if an SBA loan or another type of small business loan is right for your business. https://bit.ly/40ZTejw

Did you know that schemes like check-washing and bogus invoicing can often exploit your vendors' security vulnerabilities? Stay vigilant by monitoring vendor accounts daily, get verbal verification on invoices and establish strong onboarding policies to detect and prevent fraud. Learn more about it here https://bit.ly/3Etzufg

Ready to optimize your business strategy for the year ahead? Whether you’re fine-tuning your cash flow or planning for future growth, Q1 is the time to evaluate opportunities for improvement. From tax planning to succession planning, we’ve outlined four key areas to help your business stay on track this year. https://lnkd.in/gmUjUC7J

Bank of Nevada will be closed on February 17, 2025, in observance of President’s Day. We will reopen on February 18, 2025, to serve your needs.

Bob Sherman, MBA in our Las Vegas Commercial Real Estate Banking Group recently closed on a $10MM pre-development loan for Phase II of a mixed-use commercial property. This pre-development loan supports an overall development project that includes building two three-story 120,000 square feet commercial office/retail buildings, a 1.5-acre public park, walking trails, 1,343 multi-family units with resort-style pools, an underground parking garage and various community amenities. Our team is proud to work on projects that support the growth of the Las Vegas community.

How robust is your fraud prevention program for your business? Fraud prevention is not just about minimizing risk, it’s also about securing the future of your business and reducing disruption to operations. There are several ways businesses can keep their financial assets secure. Read more about them in our article BON: https://bit.ly/3WQO6fi

Ever thought of purchasing a small business? From a buyer's financial readiness to industry conditions and potential disrupters, check out our article that explores questions entrepreneurs will want to consider before purchasing a small business. https://bit.ly/3Q5Hd5X

Your business bank is a trusted advisor, an institution you can count on for much more than just transactions. Whether your company is large or small, growing fast or scaling back, launching new services or focusing on what you know works, the best business bank is one that offers you a genuine and productive relationship. If you’re unsure, these four key questions can help you assess your banking relationship to guide you in finding the perfect fit. Read more?https://lnkd.in/gi42YyGc

Small businesses are frequent targets of financial fraud, but there are many solutions for combatting this threat. Here are just a few of the strategies Western Alliance Bank recommends to protect your business: 1. Use digital and electronic payments for greater security — and explore check verification processes to detect fraudulent checks. 2. Verify wire transfers through multiple channels. 3. Confirm email requests for payment and pick up the phone when in doubt. 4. Build strong bank relationships for timely support and guidance. Discover other strategies to significantly reduce the risk of fraud and protect your business’s financial security: https://lnkd.in/gPj3yqce #FraudPrevention #BusinessSecurity #ProtectYourBusiness