Mountain West Small Business Finance President John D. Evans released a statement regarding the government shutdown and how MWSBF’s operations are affected:
“We received updated information related to the 504 Loan Program regarding SBA operations during the government shutdown. First, and perhaps most importantly, is that funding has been deemed as a necessary function of government, so approved loans that don’t require any modification, will move forward with funding as scheduled.“Second, if there are any changes, including but not limited to project costs, the loan will be postponed until the government re-opens and those changes can be made.“Additionally, under current government shutdown restrictions, no new loan applications can be submitted to the SBA, as that portion of the system is shutdown – meaning there are no personnel currently working/being paid by the government to perform those duties.“However, MWSBF will continue to accept loan applications, structure projects, underwrite loan requests and approve internally so that once the government re-opens, pending projects can be submitted to the SBA for final approval.
“We know the uncertainty regarding the shutdown is frustrating. If you have any specific questions about how a specific loan is affected, please contact your loan officer directly. We are committed to doing everything we can on our end to make the smoothest transition possible and appreciate your patience and understanding.”