Masters of 504 Lending Series #3: Best Practices

MWSBF is presenting a 12-part series titled Masters of 504 Lending. Each month, a new webinar will provide education and a Q&A forum related to different aspects of SBA 504 loans. The third installment in the series covers the basics of the SBA 504 loan program. You can watch the webinar below and download the slide decks by clicking here. To see the example Sources & Uses page used during the webinar, click here.

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MWSBF Expands Statewide in Colorado

Mountain West Small Business Finance (MWSBF) is excited to announce that effective immediately, the Small Business Administration (SBA) has approved MWSBF as a statewide provider of 504 and Community Advantage loans in Colorado.  “For almost two decades, we have been lending to a number of small businesses in the western slope of the Centennial State,” John Evans MWSBF president explained. “And like our expansion efforts elsewhere, it’s obvious that small businesses and communities throughout the west are better served with more options for their lending needs.” Evans emphasized the expansion is also a big win for several of MWSBF’s current lending partners. “So many of our current client lender base… Read More

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504 Cap Increase Included in Proposed Funding Bill

A Message from our CEO Great news for small businesses and their lending partners! The National Association of Development Companies (NADCO) announced an increase to the 504 authorization cap has been included in the proposed funding bill for the remainder of fiscal year 2022. The breakdown of proposed authorization levels is: The regular 504 program is authorized at $11 billion; and The 504 debt refinance without expansion program is authorized at $4 billion. What this ultimately means: THERE’S MORE MONEY FOR 504! We have also learned that due to time constraints, the House will likely consider a continuing resolution through March 15 to keep the government open—allowing the House and… Read More

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Good News/Bad News: SBA 504 Loans are out of money for FY2021

The good news is the SBA 504 product has never been more successful. The bad news is, because of its success—for new purchase, construction and refinance with expansion, the program is estimated to run out of money in a couple of weeks for the remainder of SBA’s fiscal year (9/30). “In this case, the regular 504 program, which includes 504 debt refi with expansion, will reach its congressionally authorized cap of $7.5 billion before the cap is reset on October 1. As of August 21, the regular 504 program had approximately $7 billion in approvals with estimates pointing to the program reaching the cap as soon as September 3rd.” –from… Read More

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MWSBF Proudly Sponsors the Janie C Kids Market: a craft fair created and cultivated by kids

May 13, 2021 (Salt Lake City) — “Entrepreneurship and innovation have no age limits,” said Danny Mangum, chief operating officer for Mountain West Small Business Finance. “That’s just one of many reasons we’re proud to help sponsor the Janie C Kids Market. As a company that prides itself on supporting and celebrating economic development, resourcefulness, and creativity, we salute these young entrepreneurs and the Holladay community that has come together to help make this event a reality.” The event, held Saturday, May 15, 2021 from 1:00pm to 3:00pm at 2810 E. Hermosa Way in Holladay, Utah will feature jewelry, crafts, treats and wares from a variety of the neighborhood’s children. … Read More

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A Letter from John D. Evans

May 6, 2021 To Our Valued Lending Partners, On behalf of Mountain West Small Business Finance, I would like to express our appreciation to you for helping us assist record numbers of small businesses through the SBA 504 Program. The table below illustrates the increased 504 volume at MWSBF (FYE: 9/30):   FY 2019 FY 2020 % Chg. 2020 (6 mos.) 2021 (6 mos.) % Chg. # of Loans 189 233 23.3% 100 170 70% Loan Dollars (000s omitted) $133,848 $169,530 26.7% $85,182 $131,019 53.8% MWSBF is currently ranked as the fifth leading CDC lender in the country (190+ CDCs), behind only those in New York, Florida, and California.  While… Read More

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Loans Available for Business Impacted by COVID

Our lending partner, Utah Small Business Loan Fund (USBLF) has funds available for loans to small businesses affected by COVID-19. Loans can be requested for up to $250,000 and have 5-7 year terms and fixed rates. If you are interested in learning more or applying for one of these loans, please contact their loan administrator, Kimberly Holley via email at kholley@mwsbf.com or phone at 801-412-3771. You can also start the application process by visiting USBLF’s website: www.usblf.org

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