SALT LAKE CITY, May 10, 2023 (GLOBE NEWSWIRE) -- The Small Business Administration’s Utah District Office named Mountain America Credit Union the top 7(a) lender in the state and the top 7(a) rural lender in Utah.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
A 7(a) loan is the SBA’s most common loan program. There are a variety of 7(a) loan types, and they are especially ideal for helping small businesses acquire real estate or equipment, as part of a business purchase, refinancing business debt, or providing working capital.
“Our small business lending team is committed to helping our members find the capital they need to start and grow their businesses and this award is evidence of their dedication,” said Sterling Nielsen, president and CEO of Mountain America Credit Union. “We recognize small businesses are core to our communities, and by strengthening these small businesses with funding and other financial services, we achieve our philosophy of people helping people and supporting our community.”
In 2022, Mountain America provided 7(a) loans to 101 business owners in Utah totaling more than $53.9 million.
According to Forbes, over the past decade Utah has regularly ranked as one of the best states for business. Utah’s friendly regulatory climate and large growth prospects contributed to more than 313,500 small business owners in the state.
“We know that Utah is consistently one of the best states in the nation to start a business in and we value our role in helping small business owners across the state secure the money needed to start and grow their business,” said Michael Griffiths, vice president of business lending at Mountain America. “We take great pride in working with small business owners and their role in strengthening the local economy while creating vital jobs in the state.”
According to the Health Resources and Services Administration, Utah is the thirteenth largest state in the country and is largely rural with five urban,12 rural and 12 frontier counties. The SBA reports that Utah has more than 55,000 small businesses in rural counties, including 15,000 women-owned small businesses, nearly 4,000 veteran-owned small businesses, and more than 2,500 minority-owned small businesses. These businesses provide vital jobs, products and services to these communities.
To apply for a small-business loan or to talk to a loan specialist, please visit macu.com/business. https://www.macu.com/business/loans.
About Mountain America Credit Union
With more than 1 million members and $15.9 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile-banking technology; 100 branches across six states; and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.
Contact: publicrelations@macu.com, macu.com/newsroom
