Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Mountain America SBA loans create 700 jobs
SALT LAKE CITY, Utah (3/17/09)--Mountain America CU helped create more than 700 jobs in Utah last year through Small Business Administration (SBA) loans. The $2.772 billion asset, West Jordan, Utah-based credit union has been a top lender since the inception of its SBA program in 2003, Mountain America said. Some financial institutions--such as Mountain America--have slightly altered their application requirements, but continue to lend. The Wall Street Journal recently noted credit unions’ role in small business lending in an article titled, “Small Businesses Find a New Source for Funding. “We’re one of the only solutions for a start-up, and we want to be a part of that,” Mountain America spokesman Curtis Anderson said in the article. Experts agree that small businesses are the key to job creation, the credit union said. Utah had more than 230,000 small businesses in 2006, and from 2004 through 2005 created 86.5% of the state’s new jobs, according to the most recent statistics from the SBA. “Utah has a strong entrepreneurial spirit,” said Mike Turner, senior vice president of Mountain America’s Business Services. “Small businesses are the backbone of our society and we need to support them and generate capital to keep Utah going strong.”
Other Resources

RSS print
News Now LiveWire
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
10 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
10 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
11 hours ago
.@CFPB now accepts consumer complaints on prepaid cards, debt settlement services, credit repair services, and pawn and title loans.
12 hours ago
.@WellsFargo to process transactions in order received, not high to low http://t.co/g0jWJoegoJ
13 hours ago