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BANKING QUARTERLY FINANCE SURVEY PAINTS BLEAK PICTURE OF FINANCING PROSPECTS FOR NEVADA BUSINESSES By Steve Green senior staff writer N evada has the highest percentage in the nation of small and midsized businesses struggling to gain financ- ing, a new study shows. Pepperdine University in Los Ange- les and Dun & Bradstreet Credibility Corp. issued survey results showing 75 percent of the 76 Nevada business- es surveyed are facing limited growth opportunities due to the "difficult fi- nancing environment." That compares with 61 percent of businesses facing such struggles na- tionwide. In all, 5,997 U.S. businesses were surveyed. Among small businesses — those with annual revenue of $5 million or less — 64 percent nationwide described the current financing environment as restrictive. That compares with 47 per- cent of larger businesses — with up to $100 million in annual revenue — indi- cating that's the case. Among national results for the smaller businesses, 55 percent said the difficult financing environment was restricting plans to grow their workforces. As for Nevada, the state had the high- est percentage of business owners, 56 percent, who transferred personal assets to their businesses during the past six months. That compares to 42 percent nationwide. Asked about the survey, Nevada bankers said the results didn't reflect a change in bank lending standards. Rather, bankers said, a difficult economic environment in which: n Nevada leads the nation in unem- ployment, leaving consumers with less SEE FINANCING PAGE 12 they reflected REAL ESTATE HELLER TOUTS BILL TO SPEED UP SHORT SALE PROCESS By Karoun Demirjian staff writer S being en. Dean Heller now has a hat trick of housing bills before the Senate, after formally unveiling a bill to help expedite short sales May 23. Heller's new bill is mostly an effort make all mortgage service providers subject implemented next month by federal lenders Fannie Mae and Freddie Mac. The bill — like the policy that applies lenders — stops short of to federal By most casual estimates, forcing lenders to let more underwater homeowners complete short leaving underwater sales. Rather, it would prevent lenders from to complete a short sale. According to an April report from the mortgage finance experts at RealtyTrac, average time is 10.5 months — up from four months in 2007. Plus, only about a quarter of short sales go through. Whether homeowners the hanging for more than a month as they consider whether to approve a short sale. "Home buyers, sellers and real estate agents have long observed that banks have been slow to approve home short sales," Heller said. "Delays can cause cancelled contracts and homeowners the changes in Heller's bill could improve those statistic isn't clear. But short sales are already on the rise. it now takes between three and nine months to the same policies being purchase offers within 30 days and issue a final decision within 60 days — the same timeline as Fannie and Freddie must adhere to. forced outcome into than foreclosures. Though short sale is seen as a far better finding ways to improve this process and make this process more efficient has been very, very difficult." servicers Heller's bill would require mortgage to respond to short sale foreclosure, BOOK OF LISTS VERY FEW THINGS HAVE A LONGER SHELF LIFE Tested by time. SPAM KETCHUP PACKET HONEY YEAR LONG. OUR BOOK OF LISTS DOES. You want 365 days of advertising impact? Reserve ad space in the 2013 Book of Lists. It's a resource that the Valley's top executives use all year long. With thousands of contacts and potential customers, it's something they keep at their fi ngertips, giving you year-round results. Want to prolong the life of your business? Place your ad in the 2013 Book of Lists today. THERE'S NOT MUCH THAT LASTS ALL Straight talk. Sound counsel. Practical solutions. At Snell & Wilmer, some things never change. Call a VEGAS INC Advertising Consultant at 702.990.2443 for space reservations or sponsorship opportunities. 2013 Sponsor DENVER | LAS VEGAS | LOS ANGELES | LOS CABOS | ORANGE COUNTY PHOENIX | RENO | SALT LAKE CITY | TUCSON | 4 JUNE 2012 | 11 www.swlaw.com 2012 BOOK OF BUSINESS LISTS