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ANNUAL REPORT FOR 2002
Fiscal year 2002 brought to Utah not only the 2002 Olympic Winter Games but also a small business community eager to expand. Despite difficult times, with SBA's assistance, Utah's resilient small businesses borrowed a record $194.9 million. I am especially glad to report increased participation by small business owners in nearly every minority group.
As SBA begins its 50th anniversary year, I must recognize the energetic support of our partners (lenders, CDCs, SBDCs, BICs, SCORE, and the Women?s Business Center) whose participation helped empower Utah small businesses owners to realize their dreams.
Stan Nakano, District Director
FY 2002 IN A GLANCE
|
7(a) Loans Approvals
|
2001
|
2002
|
|
Number
|
570
|
573
|
|
Amount
|
$99.7M
|
$117M
|
|
PLP
|
177
|
149
|
|
LowDoc
|
81
|
157
|
|
Express
|
224
|
103
|
|
Star
|
00
|
67
|
|
|
|
|
504 Loan Approvals
|
2001
|
2002
|
|
Number
|
198
|
207
|
|
504 Loan Amount
|
$72M
|
$78M
|
|
|
|
|
"New Market" Loans
|
2001
|
2002
|
|
Minority-Number
|
79
|
90
|
|
Minority-Amount
|
$11.5M
|
$17.8M
|
|
Woman-Number
|
164
|
133
|
|
Woman-Amount
|
$29.6M
|
$31.5M
|
|
Veteran-Number
|
68
|
74
|
|
Veteran-Amount
|
$16M
|
$27.1M
|
|
Total
|
$57.1M
|
$76.4M
|
|
|
|
|
8(a) Contracts Approved
|
2001
|
2002
|
|
Number
|
167
|
139
|
|
Amount
|
$62.2
|
$51.7M
|
|
|
|
|
Counseling/Training
|
2001
|
2002
|
|
SCORE
|
2844
|
3,554
|
|
SBDC
|
8498
|
10,392
|
|
BIC
|
2660
|
4,586
|
|
WBC
|
1023
|
1,090
|
|
Total
|
15,025
|
19,622
|
|
|
|
|
Total Impact
|
2001
|
2002
|
|
8(a) Contracts
|
$62.2M
|
$51.7M
|
|
7(a ) Loans
|
$99.7M
|
$117M
|
|
504 Project Amount
|
$196.2M
|
$210.9M
|
|
EIDL
|
|
$1.6M
|
|
Federal contracts to small businesses
|
|
$349M
|
|
TOTAL
|
|
$730.2M
|
|
|
|
|
Estimated Jobs Created/Preserved
|
8453
|
10,886
|
TOTAL LOANS
|
# Loans
|
Loan Amount
|
|
7(a) Loans
|
573
|
$117,421,800
|
|
504 Loans
|
207
|
$77,520,000
|
|
EIDL
|
25
|
$1,585,500
|
|
TOTAL
|
805
|
$196,527,300
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7(a) LOAN APPROVALS
|
Lender
|
# Loans
|
Loan Amount
|
|
AmBank
|
2
|
200,000
|
|
America West Bank
|
16
|
2,063,700
|
|
American Investment Fin.
|
5
|
1,185,000
|
|
Amresco Independence
|
1
|
1,625,000
|
|
Bank of American Fork
|
21
|
5,658,500
|
|
Bank of Utah
|
23
|
3,653,400
|
|
Bank One, Utah, N.A.
|
29
|
2,015,400
|
|
Barnes Banking Company
|
1
|
15,000
|
|
Brighton Bank
|
10
|
986,700
|
|
Business Lenders, LLC
|
1
|
150,000
|
|
Business Loan Center, Inc.
|
5
|
3,429,700
|
|
Capital Community Bank
|
24
|
2,956,400
|
|
Celtic Bank
|
16
|
7,335,000
|
|
Central Bank
|
19
|
3,547,500
|
|
CIT Small Business Lending
|
16
|
9,496,600
|
|
Comerica Bank/California
|
1
|
757,000
|
|
Community First Natl.Bank
|
20
|
7,717,200
|
|
Far West Bank
|
28
|
8,204,000
|
|
First Nat?l Bank of Layton
|
21
|
7,458,100
|
|
First Utah Bank
|
8
|
1,741,400
|
|
Frontier Bank, FSB
|
1
|
200,000
|
|
GE Capital Small Business
|
10
|
2,995,500
|
|
Irwin Union Bank & Trust Co
|
2
|
300,000
|
|
KeyBank NA
|
5
|
4,046,000
|
|
Matrix Capital Bank
|
2
|
1,000,000
|
|
Morgan Stanley Bank
|
2
|
165,000
|
|
Mountain West Bank
|
3
|
800,000
|
|
Premier Bank
|
1
|
700,000
|
|
Silver State Bank
|
2
|
415,500
|
|
State Bank of So. Utah
|
12
|
2,262,200
|
|
SunFirst Bank
|
8
|
1,460,800
|
|
Temecula Valley Bank, NA
|
2
|
426,400
|
|
The Money Store, NA
|
2
|
1,471,400
|
|
The Village Bank
|
2
|
122,000
|
|
US Bank N.A.
|
21
|
4,254,100
|
|
Utah Independent Bank
|
1
|
300,000
|
|
Washington Mutual Bank
|
4
|
493,000
|
|
Wells Fargo Bank
|
45
|
7,919,400
|
|
Zions First National Bank
|
181
|
$17,894,900
|
|
TOTAL
|
573
|
$117,421,800
|
504 LOAN APPROVALS
|
CDC
|
# Loans
|
Loan Amount
|
Project Amount
|
|
Deseret CDC
|
155
|
$62,163,000
|
$163,636,861
|
|
N. Utah Capital
|
52
|
15,357,000
|
47,283,922
|
|
TOTAL
|
207
|
$77,520,000
|
$210,920,783
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7(a) & 504 LOANS BY COUNTY
|
County
|
#Loans
|
Loan Amount
|
|
Beaver
|
1
|
$300,000
|
|
Box Elder
|
13
|
1,820,000
|
|
Cache
|
18
|
6,093,000
|
|
Carbon
|
3
|
235,000
|
|
Daggett
|
0
|
0
|
|
Davis
|
55
|
13,765,000
|
|
Duchesne
|
3
|
608,000
|
|
Emery
|
1
|
125,000
|
|
Garfield
|
6
|
1,241,000
|
|
Grand
|
8
|
2,734,000
|
|
Iron
|
11
|
1,603,000
|
|
Juab
|
2
|
1,150,000
|
|
Kane
|
0
|
0
|
|
Millard
|
3
|
862,000
|
|
Morgan
|
4
|
406,000
|
|
Piute
|
0
|
0
|
|
Rich
|
4
|
305,000
|
|
Salt Lake
|
314
|
81,590,000
|
|
San Juan
|
0
|
0
|
|
Sanpete
|
6
|
1,195,000
|
|
Sevier
|
7
|
1,779,000
|
|
Summit
|
9
|
3,272,000
|
|
Tooele
|
11
|
1,888,000
|
|
Uintah
|
11
|
1,613,000
|
|
Utah
|
177
|
45,674,000
|
|
Wasatch
|
9
|
1,314,000
|
|
Washington
|
40
|
10,386,000
|
|
Wayne
|
0
|
0
|
|
Weber
|
62
|
14,078,000
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SMALL BUSINESS AWARD WINNERS
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Bo S. Chung, Jr., Chung and Associates, Inc.
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Small Business Person of the Year
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Darin Parker, Parker International, Inc.
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Small Business Exporter of the Year
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Fred A. Ball, Zions First National Bank
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Small Business Journalist of the Year
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Joshua J. Steimle & Jeffry D. Burningham, MindWire Interactive
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Young Entrepreneur of the Year
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Sterling Francom, SBDC, Larry H. Miller Entrepreneurship Center
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Utah District Special Achievement Award
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James A. Lynds, WesTest Engineering Corporation
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Regional Sub-Contractor of the Year
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Dwight D. Cook & Richard Dorigatti, Cook Dorigatti & Associates
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Accountant Advocate of the Year
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Robert J. Stevens & Charles R. Cambra III, Workforce Solutions, Inc./Advantius, Inc.
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Entrepreneurial Success
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Nick Tatton & Jeri K. Hamilton, Southeastern Utah Assoc. of Gov. Revolving Loan Fund
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Financial Services Advocate of the Year
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Susan J. Wight, Dinosaurland Resource Conservation & Dev.
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Home-Based Business Advocate of the Year
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Irene S. Hansen, Duchesne Chamber of Commerce & Economic Dev. Office
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Minority Small Business Advocate of the Year
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Norman P. Fitzgerald, SCORE, Utah Chapter District Director
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Veteran Small Business Advocate of the Year
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Kathy Hillis, Wells Fargo Women's Financial Services
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Women In Business Advocate of the Year
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