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
Continue Reading504 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
Continue ReadingSBA Warns of CARES Act Scams & Fraud: How to Detect Them and Protect Yourself
The Small Business Administration Office of Inspector General (SBA OIG) sent out a notice regarding numerous fraud, scam, and phishing messages targeting small business owners. Below is the letter they sent out which includes tips about recognizing, avoiding and reporting any fraud you might come across. Letter from the SBA Office of Inspector General The Office of Inspector General recognizes that we are facing unprecedented times and is alerting the public about potential fraud schemes related to economic stimulus programs offered by the U.S. Small Business Administration in response to the Novel Coronavirus Pandemic (COVID-19). The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the largest financial assistance bill to… Read More
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Brooks Harbertson Named VP, Commercial Loan Officer for Mountain West
MWSBF Names Brooks Harbertson as Vice President, Commercial Loan Officer for Company’s Utah County Operation Article Highlights: Brooks Harbertson Mountain West Small Business Finance has named Brooks Harbertson as vice president, commercial loan officer at their Orem, Utah office. In his new capacity, Harbertson will support the Central Utah operation. Harbertson has worked in a number of different lending capacities for more than 15 years. Most recently he worked at Mountain West Bank and for Zions Bank. Brooks can be contacted via email at bharbertson@mwsbf.com. Read the full press release below. June 26, 2019, (Salt Lake City) – Mountain West Small Business Finance (MWSBF), Utah’s largest SBA lender, welcomes Brooks… Read More
Continue ReadingSaffron Valley: Small Business Spotlight
Saffron Valley Special The newest addition in the Saffron Valley family is part restaurant, part market and part chai house. With small business financing from Mountain West, Saffron Valley was able to hire 12 more employees at their new Sugarhouse/Liberty Wells location in Salt Lake City. The new 5000 square foot location also includes a culinary school, making it a one stop shop for anyone who wants to explore Indian food. The tour de force behind Saffron Valley is Lavanya Mahate. Born and raised in Southern India, Mahate watched her mom, with some help from Kanthama (their kitchen help) cook for her large extended family, and her joy for all things… Read More
Continue ReadingWestern Nut Company: MWSBF Borrower Spotlight
April 1966, Wellington McDonald and Helen Bean founded the Western Nut Company with a business model that called for acquiring the highest quality of raw nuts in the industry, and then roasting them to perfection. Ownership changed hands in 1983, and the company has remained family-owned ever since. Throughout Western Nut’s 50-plus year history, the hallmarks of quality and freshness remain tenants of the company’s success to this day. With an SBA504 Loan, Loren Mercer and his business partners —his brothers Lloyd Mercer and Lee Mercer—purchased the existing Western Nut factory store property after Loren had spent 10 years working as an executive for Western Nut. In addition to the factory… Read More
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