Deseret Certified Development Co. of Salt Lake City, which was certified by the Small Business Administration to administer Section 504 loans to small business, has received an award as one of two most active statewide certified development companies in the country.
James Abnor, SBA administrator, presented the National Association of Development Companies award to Scott Davis, DCDC president, for approval of 45 Section 504 loans in 1987. Davis said 504 loans can be used to purchase land, construct facilities, renovate and/or remodel buildings or purchase existing facilities, machinery and equipment.DCDC, which tied with Wisconsin for the award, ranks ninth among all certified development companies in the United States, topped only by large metropolitan firms such as San Diego and some regional companies. As of April 1, 1988, DCDC officials reported 1,439 jobs created or retained in Utah through SBA financing.
One NADC award went to San Diego as the most active urban metropolitan area certified development company and the Treasure Valley Certified Development Co. in Boise as the most active rural company with 15 loans approved.