Mountain America Recognized with Community Impact, 504 Lender of the Year Award
The National Association of Development Companies (NADCO) awarded the credit union as a top lender at its annual NOW conference and training.
Mountain America Credit Union is honored to announce it has earned the National Association of Development Companies (NADCO) Community Impact, Credit Union 504 Lender of the Year Award. The credit union earned this recognition by providing more than $58 million in total 504 loans to 44 small business owners in Fiscal Year 2022 with much-needed capital to help them grow and strengthen local businesses in the intermountain west.
“We are thrilled to receive this recognition from NADCO. It is our privilege to help small businesses succeed, as their contributions are vital to the communities we serve,” said Seth Wheatley, vice president of small business lending at Mountain America. “This reflects our team’s hard work and dedication to helping small business owners define and achieve their financial dreams.”
The 504 program provides long-term, fixed-rate loans for major fixed assets like equipment, vehicles and real estate, which promote business growth and job creation.
“We are honored to recognize Mountain America Credit Union with the NADCO Community Impact Award, 2022 Credit Union 504 Lender of the Year,” said Rhonda Pointon, president and CEO of NADCO. “Mountain America’s partnership is critical to advancing the mission of the SBA 504 program. Their commitment and dedication ensure small business owners across the country get the access to capital they need to succeed and make a positive impact in their community. Thank you for your steadfast commitment to the program.”
When ATI, a small business based in North Salt Lake, Utah, specializing in high-end home theaters, home automation and security systems, needed help with expansion, Mountain America was able to help. Steven DeLeeuw, an SBA real estate loan officer at Mountain America, helped close their 504 loan.
“It’s been a great experience moving our business banking to Mountain America. We were in the middle of building our new showroom in the Park City area, and we needed to roll our construction loan into a final loan. It was important to us to find a financial institution that we could be a partner with, and not just feel like a number,” said Heather Scholes, controller at ATI. “Steven was incredible through the whole process. He would answer questions any time of day or night just to help make it as smooth as possible. It just felt very personal, like Mountain America was there to help, not fight against us. They wanted to see this through. Mountain America has clearly made us feel like we have a business relationship. I recommend Mountain America to anyone.”
In addition to being named NADCO’s top 504 lender, Callahan and Associates has ranked Mountain America as the top SBA lender among credit unions nationally for 18 consecutive years and as the top SBA 7(a) lender in Utah in Fiscal Year 2022 with 139 SBA 7(a) and 504 loans.
To apply for a small-business loan or talk to a loan officer, please click here.
