A Message from MWSBF : COVID-19 Stimulus Bill for Small Businesses

We congratulate our nation’s congressional leaders on coming to an agreement and passing a $2 trillion emergency spending bill to combat the economic impact of coronavirus. As we understand it, the bill includes approximately $350 billion aimed at helping small businesses weather the economic storm.  Two pieces of particular importance regarding the legislation include: $17 Billion for SBA payment of borrower principal, interest, and fees for a 6-month period beginning with the next payment due, for 504, 7(a) including Community Advantage, and Microloan borrowers. This is not a deferment but is actual debt forgiveness for the borrower. These SBA payments will be enacted by SBA automatically, so borrowers do not need to contact Mountain West. $325 Billion for the Payroll… Read More

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S&B Aluminum Foundry: MWSBF Borrower Spotlight

The Great American Story I sit with Seng and Hensen Rin for almost an hour. They’re the father-son team behind S&B Aluminum Foundry in West Valley City, Utah. Seng, the father and owner of S&B, is originally from Cambodia. His son Hensen, the company’s vice-president, was born in the states after Seng (an orphan who escaped the Cambodian Killing fields in the late 70s) was moved from a refugee camp in Thailand to the states. Seng’s story has all the makings of a NYT Bestseller. I’m on the edge of my seat, and also somewhere between disbelief and astonishment the entire time the tale is relayed. Hensen, peppers in commentary,… Read More

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Mountain West Small Business Finance Announces Promotions and Changes in Leadership Structure

May 1, 2019, (Salt Lake City) – Mountain West Small Business Finance (MWSBF), Utah’s largest SBA lender, also operating throughout Wyoming and the mountain west, announces changes to their leadership structure, effective Wednesday, May 1, 2019. Danny Mangum has been promoted to chief operating officer. In his new capacity, Mangum will have oversight for the following departments: human resources and administration, budget and finance, and loan closing. He will continue with his current loan officer duties until MWSBF’s CEO Scott Davis retires (Spring 2020), at which time Mangum will then transition more fully to additional responsibilities in loan review and business development.   “Danny has been a top producer for… Read More

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An Attitude of Gratitude

  “We were given the challenge to create something beyond a turkey or cornucopia this year,” Lindsay Boulter, head Marketing assistant at Mountain West Small Business Finance said. “The reality is, every day at this office, more than 40 employees come together with a single focus – to help small businesses succeed. Their success is our success, and we wanted to show our gratitude for them.” And that’s where the idea for the logo with all the borrower’s names came from. Boutler continued, “We wanted a representation of what has made Mountain West successful this year, and what we’re grateful for—it seemed like the perfect fit.” Mountain West’s President John… Read More

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