Whether you know it as the “Equality State,” “Cowboy State,” or “Big Wyoming,” Mountain West Small Business Finance (MWSBF) is celebrating with all Wyomingites the Small Business Administration (SBA) decision to approve MWSBF as a statewide provider of 504 loans in Wyoming.
John Evans MWSBF president explained, “For nearly two decades, we have been lending to a large number of small businesses in the southwest corridor of Wyoming. From that experience, we have come to believe that small businesses, throughout Wyoming, could be better served with more options for their lending needs. Mountain West consistently rated in the ‘Top 10’ of SBA 504 lenders nationwide, brings to Wyoming 38 years of experience in providing small business lending, rural economic development, job creation and opportunities for enhanced quality of life. We’re excited about what the future holds for this expansion.”
Evans said one of the key benefits of for the SBA 504 is the 25-year fixed interest rate for land and building construction purchases.
“If you are an existing business, looking to purchase or build your own building or purchase additional equipment to support your growth, the SBA 504 loan is the best-kept secret in small business financing,” Evans explained. “For a conventional loan, businesses traditionally need a 30 percent down payment to acquire commercial real estate; but with the 504 loan, a borrower needs as little as 10 percent down, because of the unique partnership between the borrower’s bank or credit union and Mountain West. It’s a win for the business, the financial institution, and the larger community benefiting from small business growth.”