ANNUAL REPORT FOR 2001
District Director Comments
The end of SBA's fiscal year (September 30, 2001) found the country in a state of mourning and a state of war. Terrorist attacks on September 11, 2001, profoundly affected Americans and their government as the world paused to consider the horror of the first modern-day attack on American soil. The attacks came amid an economic slowdown that had already severely impacted the Nation's small businesses, and, to a lesser extent, Utah's small businesses. Despite the slowdown, I am pleased that the total dollar amount of Utah's FY 2001 7(a) and 504 loans actually exceeded last year's total. I am equally pleased that the dedication of our local SBA staff and the energy of our partners enabled the Utah District to meet or exceed all of its Lending objectives for fiscal year 2001. When the economy slows, SBA's role of insuring the availability of capital for small businesses becomes even more important. SBA's Utah District and its lending and business development partners remain committed to serving Utah's small business community in the difficult months to come. Meanwhile, Utah is preparing to party. February will bring the world to Utah to celebrate the 2002 Winter Olympics, a 16-day event that will impact individuals and businesses worldwide. Olympic preparations have already buoyed Utah's spirit. Utah will soon share the Olympic spirit with the world.
Stan Nakano
District Director
FY 2001 IN A GLANCE
| 7(a) Loans Approvals |
2000
|
2001
|
|
Number
|
617
|
570
|
|
Amount
|
$104M
|
$99.7M
|
|
PLP
|
194
|
177
|
|
LowDoc
|
75
|
81
|
| Express |
268
|
224
|
|
|
|
| 504 Loan Approvals |
2000
|
2001
|
|
Number
|
193
|
198
|
|
504 Loan Amount
|
$64M
|
$72M
|
|
|
|
|
"New Market" Loans
|
2000
|
2001
|
|
Minority-Number
|
73
|
79
|
|
Minority-Amount
|
$13M
|
$11.5M
|
|
Woman-Number
|
150
|
164
|
|
Woman-Amount
|
$26.9M
|
$29.6M
|
|
Veteran-Number
|
74
|
68
|
|
Veteran-Amount
|
$17.1M
|
$16M
|
|
Total
|
$57
|
$57.1M
|
|
|
|
|
|
|
| 8(a) Contracts Approved |
2000
|
2001
|
|
Number
|
106
|
167
|
|
Amount
|
$50.9M
|
$62.2
|
|
|
|
| Counseling/Training |
2000
|
2001
|
|
SCORE
|
2715
|
2844
|
|
SBDC
|
6854
|
8498
|
|
BIC
|
3153
|
2660
|
|
WBC
|
676
|
1023
|
|
Total
|
13,398
|
15,025
|
|
|
|
| Total SBA-Utah Impact |
2000
|
2001
|
|
8(a) Contracts
|
$50.9M
|
$62.2M
|
|
7(a ) Loans
|
$104M
|
$99.7M
|
|
504 Project Amount
|
$184.4M
|
$196.2M
|
|
|
|
|
TOTAL
|
$339.4M
|
$358.1M
|
|
|
|
| Estimated Jobs Created/Preserved |
8,242
|
8,453
|
|
|
|
|
|
|
TOTAL LOANS
|
# Loans
|
Loan Amount
|
|
7(a) Loans
|
570
|
$99,662,722
|
| 504 Loans |
198
|
$71,983,000
|
|
TOTAL
|
768
|
$171,645,722
|
7(a) LOAN APPROVALS
|
Lender
|
# Loans
|
Loan Amount
|
|
Zions First National Bank
|
226
|
$23,658,350
|
| Far West Bank |
32
|
4,536,000
|
|
American Invest. Financial
|
30
|
10,211,100
|
|
Bank One, Utah, N.A.
|
29
|
4,689,800
|
|
Wells Fargo Bank
|
27
|
6,401,100
|
|
America West Bank
|
27
|
2,448,400
|
|
Bank of Utah
|
24
|
7,011,200
|
|
First Nat’l Bank of Layton
|
22
|
5,541,300
|
|
KeyBank, N.A.
|
19
|
3,129,000
|
|
US Bank N.A.
|
17
|
4,569,500
|
| Community First Natl.Bank |
15
|
3,203,200
|
|
Capital Community Bank
|
12
|
1,545,000
|
|
Western Bank
|
11
|
1,166,000
|
|
CIT Small Business Lending
|
10
|
4,329,300
|
| Central Bank |
10
|
2,208,450
|
|
Bank of American Fork
|
10
|
1,026,600
|
| Sunfirst |
8
|
1,883,107
|
|
State Bank of So. Utah
|
8
|
949,265
|
|
GE Capital Small Business
|
5
|
2,478,000
|
| First Utah Bank |
5
|
1,116,000
|
|
Brighton Bank
|
5
|
318,200
|
|
Silver State Bank
|
4
|
2,564,000
|
|
Cache Valley Bank
|
3
|
1,540,350
|
|
Money Store Investment
|
2
|
1,212,000
|
| America First Credit Union |
2
|
820,500
|
|
American Bk of Commerce
|
2
|
215,000
|
|
Village Bank
|
2
|
213.000
|
|
Matrix Bank
|
1
|
549,000
|
|
Barnes Banking Company
|
1
|
100,000
|
|
Liberty Bank
|
1
|
30,000
|
|
TOTAL
|
570
|
$99,662,722
|
|
|
|
504 LOAN APPROVALS
|
CDC
|
# Loans
|
Loan Amount
|
Project Amount
|
|
Deseret CDC
|
156
|
$59,860,000
|
$162,367,804
|
|
N. Utah Capital
|
42
|
12,023,000
|
33,831,769
|
|
TOTAL
|
198
|
$71,983,000
|
$196,199,573
|
7(a) & 504 LOANS BY COUNTY
|
County
|
# Loans
|
Loan Amount
|
|
Beaver
|
2
|
$642,000
|
|
Box Elder
|
15
|
3,176,000
|
|
Cache
|
31
|
7,296,000
|
|
Carbon
|
7
|
1,177,000
|
|
Daggett
|
0
|
0
|
|
Davis
|
74
|
11,587,000
|
|
Duchesne
|
6
|
442,000
|
|
Emery
|
3
|
850,000
|
|
Garfield
|
1
|
150,000
|
|
Grand
|
4
|
1,779,000
|
|
Iron
|
12
|
2,670,000
|
|
Juab
|
3
|
1,345,000
|
|
Kane
|
4
|
1,704,000
|
|
Millard
|
4
|
981,000
|
|
Morgan
|
2
|
254,000
|
|
Piute
|
0
|
0
|
|
Rich
|
3
|
346,000
|
|
Salt Lake
|
319
|
72,340,000
|
|
San Juan
|
3
|
340,000
|
|
Sanpete
|
2
|
199,000
|
|
Sevier
|
8
|
1,145,000
|
|
Summit
|
12
|
2,312,000
|
|
Tooele
|
11
|
4,240,000
|
|
Uintah
|
14
|
1,776,000
|
|
Utah
|
113
|
27,882,000
|
|
Wasatch
|
7
|
2,398,000
|
|
Washington
|
27
|
4,206,000
|
|
Wayne
|
1
|
201,000
|
|
Weber
|
80
|
20,209,000
|
2001 Award Winners
-
John P. Porter
-
Focus Communications
-
Small Business Person of the Year
-
-
Glen Lowry
-
Alta Technology Corporation & Linux NetworX, Inc.
-
Small Business Exporter of the Year
-
-
Thomas Arnold
-
TW Company
-
Regional Sub-Contractor of the Year
-
-
Amy Rees Lewis
-
PerfectPractice.MD
-
Young Entrepreneur of the Year
-
-
Duane Blackley
-
UTFC
-
District Director's Award
-
-
Shirley Erickson
-
Aesthetic VideoSource and Salon Channel, Inc.
-
Home-Based Business Advocate of the Year
-
-
Brent S. Sandberg, CPA
-
Jones, Wright, Simkins & Associates LLP
-
Accountant Advocate of the Year
-
-
Karen Gudmundson
-
Select Strategies, Inc.
-
Financial Services Advocate of the Year
-
-
Mark Holmes
-
Uintah Basin Small Business Development Center
-
Minority Small Business Advocate of the Year
-
-
Richard B. Wallace
-
Clear Channel Communications, Inc.
-
Small Business Journalist of the Year
-
-
Zions Women's Financial Group
-
Women In Business Advocate of the Year
-
|
|
|
