Mountain West Small Business Finance has been named one of the Top 10 Certified Development Companies (CDCs) in the country for loans to veterans, with $11.2 million in financing this year.
“On this Veterans Day, we honor our Nation’s heroes: those who have served and those who are currently serving our Country,” Scott Davis, Mountain West Small Business Finance President said. “We are proud to be ranked among fellow development companies who also recognize the contributions of our veterans and are doing something to help them realize their dreams of business ownership.”
The rankings (http://tinyurl.com/k97dr4k), released by the National Association of Development Companies (NADCO) were measured by participation in the SBA Real Estate Advantage (504) Loan Program. NADCO has partnered with the SBA in its “Pledge to Veterans” with its goal of increasing lending to veterans 5% per year for the next five years.
NADCO launched the VetLoan Advantage program last summer, and Mountain West began participating as one of the program’s inaugural members by offering Veterans the following benefits (http://tinyurl.com/nmpe9d6):
- Rebate up to $3,000 of the Loan Origination fee for SBA 504 Loans with a total project cost of less than $1,250,000
- Rebate 33% of the Loan Origination Fee on SBA 504 Loans with a total project cost of $1,250,000 or higher; rebate up to $27,500.
- Waived Packaging Fee on Community Advantage Loans up to $1,500.
- Waived Loan Origination Fee on USDA Rural Loan Program; usually 1.5%
Davis added that while the program is off to a great start, he echoes the sentiments of NADCO President & CEO Beth Solomon who earlier last week said: ”We must do more to help our veterans transition to leadership in the civilian economy. It’s good for veterans, good for our economy, and good for America.”
More information about Mountain West
Small Business Finance, the Vet Loan Advantage Program and the SBA Real Estate Advantage (504) Loan Program can be found at www.mwsbf.com.