The Deseret Certified Development Corp., an entity that facilitates loans to small business in Utah, has arranged $137.5 million in financing in Utah, $52 million of which was imported capital.
The corporation administers the Small Business Administration's 504 loan program to small businesses in Utah. The 504 program requires a minimum of 50 percent in private funds from banks and other lenders, a maximum of 40 percent from SBA-guaranteed debenture funds and 10 percent from the small business owner."We couldn't be the leading certified development corporation in the country without the help of the SBA and financial institution lenders who go the extra mile for us," Davis said.
Nationally, SBA 504 debenture sales to the private market have reached $1 billion that resulted in the creation of 133,000 jobs since 1986.