Partnerships that Work

MWSBF_002Nutella and bananas.

Charlton Heston and an NRA rally. Hippies and a Prius. Mountain West and Small Businesses. It’s all about partnerships made for each other. Mountain West Small Business Finance is proud to partner with banks and small businesses to grow the economy and get more people to work. (more…)

MWSBF at Sochi

Z PicZianibeth Shattuck-Owen has speed in her DNA. So you might say her love for things fast (eg. running so fast she qualified and ran the Boston Marathon, and her time spent as a world-class luge athlete) is a nature-nurture issue. Her grandfather raced motorcycles and her dad cars. Even her nickname sounds like greased lightening, (more…)

Lifetime Products (A Slam Dunk Deal)

275px-Lifetime_LogoThe founder of Lifetime Products wasn’t trying to build a better pole — the first complete basketball system you could raise up and down with a broomstick.
To focus specifically on adjustable basketball systems a separate company was created named Lifetime Products, with the name inspired by the goal of building a durable and lasting product. Today, Lifetime Products, Inc. is the world’s leading manufacturer of basketball hoops. It’s also the leading manufacturer of folding tables and chairs in the United States. But their reach extends beyond the States. Lifetime sells products in more than 70 countries around the globe.
The company has applied innovation and cutting-edge technology in plastics and metals to create a family of affordable lifestyle products that feature superior strength and durability. In addition to basketball systems and various sporting goods offerings (playsets, soccer goals, tetherball systems, etc.), Lifetime manufactures a host of innovative products that outfit the lifestyles of today’s Americans. Their lawn and garden offerings include sheds, composters, deck boxes, outdoor furniture and in 2010 the company expanded into watersports with family-friendly kayaks and paddleboards.
While the company’s growth record is impressive (15 employees in a 32,000 square-foot space in half a warehouse in the Clearfield, Utah Freeport Center to more than 1,400 employees and over three million square feet spread over 30 separate buildings), what may be even more startling is that 14% of Lifetime’s employee base has been with the company for more than 10 years. Likewise, the majority of Lifetime’s manufacturing is done in the U.S. — keeping jobs in Utah and supporting the local economy.
Commitment, innovation and quality are key to the company’s success and growth, and Mountain West Small Business Finance is proud of the role they’ve played in Lifetime’s history and success.
As Mark Whiting, CFO of Lifetime Products, Inc., explained: “The founders actually used six personal credit cards to finance the startup. Later we utilized bank asset-based lending to grow. The Mountain West Small Business Finance piece was crucial, filling the financing gap between startup and bank.”

LEGACY LOAN
To make the leap from startup to thriving small business, Lifetime Products used financing facilitated by Mountain West Small Business Finance. This was a crucial step along Lifetime’s path to become the immensely successful company they are today. Lifetime is one of the over 4000 small businesses who have been able to bring their innovative ideas to fruition through an SBA 504 loan from MWSBF. Through the funding of those 4000 businesses, MWSBF has helped to bring over $1 billion dollars of new capital into the economy.

MWSBF and The Olympics

Sochi 2014 Company Olympics - CopySochi is approaching. With less than a month until the official Olympic kick-off in Russia, Mountain West Small Business Finance is in full “Throwback Thursday” mode reflecting on their time as volunteers for the Luge at the 2002 Winter Games in Salt Lake City; and proving once again that MWSBF may very well be one of the best places to work in the State. (more…)

MWSBF Spotlight: Lori Chavez

GSKdesign-208Lori Chavez (Right) (MWSBF Loan Assistant focusing on the 7A Community Advantage program) puts faith and family first; and it’s that dedication and close relationship with God that has sustained her in times of hardship and enriched her life in the good times. (more…)

Living Greener ON the Grid

Have you seen them? The new solar panels on the roof of the MWSBF building beckoning the sun like a moth to the flame. Before you think your favorite stop to 504 shop has suddenly become a little too “crunchy” I assure you, the office space is still pretty free of Birkenstocks and Vegan cuisine. (more…)