2005 ANNUAL REPORT
Fiscal year 2005 was another record breaking year for the SBA Utah District Office and our partners. Through our participating lenders we guaranteed a total of 2012 loans for $314 million. Of those, 1771 loans were approved under the 7(a) program and 241 were 504 loans, which are both new highs for this office. It was significant that 628 loans went to start-ups, which we define as being in business less than two years. This represented about 31% of our total loan volume. As we all know, financing for start-ups has always been a challenge for small businesses and lenders, and so we were very pleased with these results. Other substantial benefits from our record breaking volume were the increases we experienced with Community Opportunity Gap (COG) loans, which include minority loans, women loans, and rural loans. By achieving a high number of total loans, all special loan categories were positively affected.
Through the support of our SBA-funded partners, including the SBDC, SCORE, and the WBC, we counseled and trained over 19,000 clients during the past year. In the 8(a) business development program our 8(a) firms received over $119 million in government contracts and we facilitated over 2,000 matchmaking opportunities for small businesses trying to enter the federal contracting arena.
I would like to extend my thanks to all of our lending partners and resource providers as well as the SBA Utah staff for all that you do in support of our small business community.
Stan Nakano, District Director
UTAH DISTRICT OFFICE AT A GLANCE FY 2005
|
7(A) Loan approvals
|
2004
|
2005
|
| Number |
1593
|
1,771
|
| Amount |
$168.8M
|
$210.9M
|
| PLP |
316
|
339
|
| LowDoc |
72
|
41
|
| Express |
1,124
|
1,303
|
| 504 Loan approvals |
2004
|
2005
|
| Number |
227
|
241
|
| 504 Loan Amount |
$81.6M
|
$103.5M
|
| TEAM Loans |
2004
|
2005
|
| Minority-Number |
129
|
152
|
| Minority-Amount |
$21.6M
|
$30.7M
|
| Women-Number |
274
|
327
|
|
Women-Amount
|
$37M
|
$43.3M
|
| Veterans-Number |
104
|
84
|
| Veterans-Amount |
$16M
|
$15.2M
|
| Total |
$74.6M
|
$89.2M
|
| 8(a) Contracts Approved |
2004
|
2005
|
| Number |
284
|
252
|
| Amount |
$97.6M
|
$119.6M
|
| Counseling/Training |
2004
|
2005
|
| SCORE |
4,110
|
3,245
|
| SBDC |
12,045
|
11,777
|
| BIC |
5,077
|
0
|
| WBC |
2,439
|
2,952
|
| District |
1,426
|
1,527
|
| Total |
25,097
|
19,501
|
| Total SBA-Utah Impact |
2004
|
2005
|
| 8(a) contracts |
$97.6M
|
$119.6M
|
| 7(a) Loans |
$250M
|
210.9M
|
| 504 Project Amount |
$214M
|
103.5M
|
| Total |
$561.6M
|
$434.0M
|
| Total Loans |
#Loans
|
Loan Amt
|
| 7(a) Loans |
1771
|
$210.9M
|
| 504 Loans |
241
|
103.5M
|
| TOTAL |
2,012
|
$314.4M
|
LOAN APPROVALS
| Lender |
Loans
|
Loan Amt
|
| America First FCU |
78
|
$2,745,800
|
| America West Bank |
2
|
$773,400
|
| Ambank |
6
|
$2,054,000
|
| American Express Centurion Bank |
2
|
$40,000
|
| Banco Popular North America |
3
|
$1,808,100
|
| Bank of America Fork |
24
|
$6,946,100
|
| Bank of the West |
4
|
$1,111,300
|
| Bank of Utah |
13
|
$3,793,500
|
| Barnes Banking Co. |
7
|
$634,400
|
| Branch Banking & Trust Co. |
2
|
$3,220,000
|
| Brighton Bank |
5
|
$735,000
|
| Business Loan Center, LLC |
3
|
$3,924,800
|
| Capital Community Bank |
6
|
$557,100
|
| Capital One, Federal Savings Bank |
65
|
$2,865,000
|
| Celtic Bank Corporation |
44
|
$17,587,400
|
| Centennial Bank |
3
|
$1,725,771
|
| Central Bank |
36
|
$4,631,600
|
| CIT Small Business Lending Corp. |
11
|
6,269,000
|
| Citizens Bank of Pagosa Springs |
1
|
1,500,000
|
| Commerica Bank |
1
|
1,620,000
|
| Continental Bank |
4
|
$3,028,500
|
| Cyprus FCU |
1
|
$500,000
|
| Deseret First FCU |
21
|
$1,096,600
|
| Far West Bank |
27
|
$3,333,700
|
| First Community Bank |
1
|
$275,000
|
| 1st Nat'l Bank of Layton |
10
|
2,961,000
|
| 1st Nat'l Bank of Morgan |
1
|
$200,000
|
| First State Bank N.M. |
5
|
$1,370,000
|
| First Utah Bank |
5
|
$1,034,000
|
| Frontier Bank FSB |
17
|
$1,700,000
|
| GE Capital Small Business Finance Corp. |
2
|
$2,780,000
|
| Goldenwst FCU |
2
|
$105,000
|
| Innovative Bank |
1
|
$6,000
|
| Irwin Union Bank & Trust Co. |
1
|
$680,000
|
| Irwin Union Bank F.S.B. |
2
|
$150,000
|
| Jordan FCU |
50
|
$4,172,150
|
| JPMorgan Chase Bank, N.A. |
38
|
$7,711,300
|
| Key Bank National Assoc. |
8
|
$2,892,500
|
| Liberty Bank, Inc. |
1
|
$710,000
|
| Mountain America FCU |
277
|
$10,222,800
|
| Mountain West Bank |
5
|
$1,299,000
|
| Mountain West Small Business Finance |
175
|
$77,492,000
|
| Nevada State Bank |
1
|
$100,000
|
| Premier Bank |
2
|
$2,880,000
|
| Premier Commercial Bank Nat'l |
1
|
$1,546,000
|
| Prime Alliance Bank |
1
|
$1,276,000
|
| Silver State Bank |
3
|
$631,000
|
| State Bank of Southern Utah |
10
|
$1,466,600
|
| Stearns Bank National Assoc. |
1
|
$150,000
|
| Sunfirst Bank |
7
|
$733,500
|
| Tooele FCU |
35
|
$1,721,100
|
| U S U Community FCU |
1
|
$220,000
|
| U.S. Bank National Assoc. |
88
|
$11,760,200
|
| Utah CDC |
66
|
$26,000,000
|
| Utah Community Bank |
1
|
$35,000
|
| Utah Community FCU |
1
|
$170,000
|
| Wachovia SBA Lending, Inc |
7
|
$6,268,800
|
| Wells Fargo Bank, N.A. |
118
|
$11,039,700
|
| Zions First Natl. Bank |
699
|
$60,113,900
|
| TOTAL |
2,012
|
$314,374,000
|
LOANS BY COUNTY
| County |
# Loans
|
Loan Amount
|
| Beaver |
3
|
$130,000
|
| Box Elder |
34
|
$2,704,000
|
| Cache |
75
|
$13,464,000
|
| Carbon |
11
|
$532,000
|
| Daggett |
0
|
$0
|
| Davis |
181
|
$26,488,000
|
| Duchesne |
28
|
$1,933,000
|
| Emery |
5
|
$238,000
|
| Garfield |
4
|
$442,000
|
| Grand |
14
|
$4,152,000
|
| Iron |
33
|
$3,409,000
|
| Juab |
6
|
$1,089,000
|
| Kane |
11
|
$2,107,000
|
| Millard |
8
|
$849,000
|
| Morgan |
4
|
$558,000
|
| Piute |
1
|
$285,000
|
| Rich |
2
|
$180,000
|
| Salt Lake |
769
|
$134,364,000
|
| San Juan |
6
|
$2,670,000
|
| Sanpete |
23
|
$2,434,000
|
| Sevier |
29
|
$2,319,000
|
| Summit |
52
|
$8,598,000
|
| Tooele |
52
|
$5,180,000
|
| Uintah |
28
|
$3,135,000
|
| Utah |
377
|
$62,008,000
|
| Wasatch |
28
|
$4,922,000
|
| Washington |
107
|
$15,681,000
|
| Wayne |
3
|
$408,000
|
| Weber |
114
|
$13,710,000
|
| Out of State |
4
|
$385,000
|
-
Small Business Awards
-
Susan P. Rice, Cavanagh Services Group, LLC,
-
Small Business Person of the Year
-
A. Scott Anderson, President, Zions First National Bank,
-
Financial Services Champion of the Year
-
Susan E. Thackeray, Project Coordinator, Box Elder County Economic Development,
-
Home-Based Business Champion of the Year
-
Emery Polelonema, Deputy Executive Director, Six County AOG,
-
Minority Small Business Champion of the Year
-
Scott A. Gubler and Mark H. Gubler, Deseret Laboratories International,
-
Small Business Exporter of the Year
-
Terry Schow, Director, Division of Veteran Affairs – State of Utah,
-
Veteran Small Business Champion of the Year
-
Ken G. Larson, Publisher, Sun Advocate & Emery County Progress,
-
Small Business Journalist of the Year
-
Kimberly Stilson, Roberta Lawler, Jill O. Jasperson, Diane Jacob, Maile K. Haas, and Christina Schmidt, Healthy, Wealthy, Wow L.L.C.,
-
Women In Business Champion of the Year
-
Mark Allen Anderson, President and Ronnette Fancher Anderson, Vice President,
-
Anderson’s Seed And Garden, Inc.,
-
SBA Family-Owned Small Business of the Year
-
Steven Petersen, Petersen Inc.,
-
Region VIII Subcontractor of the Year
|
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