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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Update on April 1st SBA Loan Payments

SBA Will Be Making April 1st Loan Payments Great News! Mountain West has just been notified that the SBA will be making the April 1 payment for all SBA 504 loans.  This will be the first of six monthly payments made on behalf of the business.  These payments will not be pulled from your account starting tomorrow (April 1). We’ve included the correspondence from our trade organization (NADCO) at the bottom of the email if you’d like to read it in its entirety. Here’s what the announcement means to you: Funds for the April payment will not be pulled from your account tomorrow. Under the CARES Act, SBA will pay the full monthly payment owed… Read More

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SBA 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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MWSBF Welcomes Dianne Flores as Our Newest Servicing Specialist

Dianne Flores Named Newest Servicing Specialist at Mountain West Small Business Finance Mountain West Small Business Finance has named Dianne Flores, servicing specialist. Flores will be responsible for automation and streamlining of Mountain West’s insurance process for their loan portfolio. She will be based in Spokane, Washington and telecommute – supporting the company’s entire loan portfolio. Read the full press release below. March 30, 2020 (Salt Lake City) – Mountain West Small Business Finance (MWSBF), Utah’s largest SBA lender, welcomes Dianne Flores as the company’s newest servicing specialist. Flores will telecommute from Spokane, Washington and will be responsible for the automation and streamlining of Mountain West’s insurance process for their… Read More

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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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A Letter from MWSBF President: COVID-19 & SBA Disaster Relief

During this time of COVID-19, social distancing and earthquakes, MWSBF is committed to providing the same level of care and customer service as we always have. We are limiting our in person interactions but remain fully accessible via phone, email or if needed, video conferencing. If you have any questions, please reach out to any of our loan officers via phone or email: Spencer Davis, 801-412-3769, sdavis@mwsbf.com Judd Blakesley, 801-412-3792, jblakesley@mwsbf.com Blake Beck, 801-655-4968, bbeck@mwsbf.com Jeff Vanchiere, 435-652-3761, jvanchiere@mwsbf.com Brooks Harbertson, 801-655-4989, bharbertson@mwsbf.com Tyler Healey, 435-787-4242, thealey@mwsbf.com Anyone with concerns about their small business during the COVID-19 pandemic can be directed to the SBA for Disaster Relief Loans. Beginning today, the… Read More

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Celebrating Women in Small Business

Celebrating Women in Small Business October is National Women’s Small Business Month. We’re celebrating women-owned businesses everywhere, as well as the outstanding progress female entrepreneurs have made over the years! Did you know? -In 1972, women only owned 4.6% of all businesses in the United States. As of 2019, women owned 42% of all businesses -Women-owned businesses grew 21% from 2014 to 2019, and businesses owned by women of color grew at double that rate. Numbers for black women entrepreneurs grew the fastest, with an increase of 50%. In fact, as of 2019, women of color accounted for 50% of all women who owned businesses. -There are nearly 13 million… Read More

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Western 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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Valley Market: MWSBF Borrower Spotlight

“Every decision that was made during this process was focused on our guest.” – Kip Wilkes, owner Valley Market in Thayne, Wyoming Kip Wilkes’ Valley Market used an SBA504 (small business loan) for an expansion and remodel of the store. Valley Market has been a staple in Thayne, Wyoming for more than 25 years. The remodel and expansion, nearly doubles the size of the store (from 18,000 sq feet to 33,000). The updated décor was chosen specifically to reflect the colors, textures and design elements found throughout Star Valley. Additionally, the remodel puts customers first with guest focused flourishes that run the gamut from larger aisles to more high quality… Read More

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Tall Hat Foods: Borrower Spotlight

Tall Hat Foods partnered with Mountain West Small Business Finance on an SBA 504 loan to fund the company’s move into a 30,000 sq. ft. facility in Orem, Utah. The establishment has an enormous kitchen and additional warehouse space for receiving and shipping. Kent Andersen, a long-time chef, also has deep experience in food research, menu fulfillment, and proprietary food product development. He founded Tall Hat Foods to provide kitchen solutions for chefs by co-developing sauces, soups, and proprietary food products—master items that the chefs can then spin into their own signature dishes. The company started with four employees in October of 2018. Tall Hall Foods fulfills a vital need… Read More

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