Mountain America Credit Union Named Utah's Leading SBA Lender for Third Consecutive Year
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SANDY, Utah, May 23, 2024 (GLOBE NEWSWIRE) -- The Utah District Office of the Small Business Administration (SBA) named Mountain America Credit Union the top 7(a) lender and the top 7(a) minority lender in the state for 2023. The credit union was recognized by the Utah District SBA at an awards ceremony earlier this month. Mountain America was previously named Utah’s top 7(a) lender in 2022 and 2021.
“Mountain America’s small business lending department is dedicated to assisting our members in securing the necessary capital to initiate and expand their enterprises. This award underscores their unwavering commitment,” said Sterling Nielsen, president and CEO of Mountain America Credit Union. “We understand the pivotal role small businesses play in our communities. By bolstering them with financial resources and services, we uphold our ethos of community support.”
With these SBA-guaranteed loans, Mountain America was able to help more small businesses than any other SBA lender in Utah. A 7(a) loan is the SBA’s most common loan program. These loans can be used for a variety of purposes, and they are especially ideal for helping small businesses purchase real estate or equipment, refinance business debt, or provide working capital.
“To be recognized as both the top 7(a) and top minority-owned 7(a) lender of the year in Utah is a testament to our unwavering commitment to excellence in serving our community,” said Seth Wheatley, vice president of small business lending at Mountain America. “It reaffirms our dedication to empowering entrepreneurs of all backgrounds, fostering economic growth, and ensuring equitable access to vital financial resources.”
At the same event, two Mountain America members were chosen for the Woman-Owned Small Business of the Year award. Jennifer Pettinger and Sara Deneau are co-owners of Sun Print Solutions. A beacon of success in a traditionally male-dominated industry, Sun Print Solutions was recognized for business innovation, leadership, and community involvement. They turned to Mountain America when they needed help purchasing the land their business occupied.
“Mountain America has been a huge part of the success of Sun Print Solutions,” Pettinger said. “We have so many heavy pieces of equipment. We can’t just get up and move on a whim. It was really important for our success that we owned the real estate, and they helped us get that SBA loan.”
According to the SBA, as of 2023, the 33-plus million small businesses in the United States account for more than 99.9% of all businesses. These small businesses provide jobs to 61.7 million people, representing 46.4% of private sector employees in the U.S.
In addition to the Utah SBA district rankings, Mountain America has been named the nation’s top credit union SBA lender, according to Callahan and Associates, for 20 years in a row. Mountain America offers a variety of financial resources and options to small business owners. These services include expert guidance and resources to improve business productivity and streamline finances through attentive, personalized services. This is achieved by featuring a full cash management suite of products, enhanced expense management business credit card software, merchant services, and top-of-market deposit rates.
To apply for a small business loan or to talk to a loan specialist, please visit macu.com/business. Loans on approved credit.
About Mountain America Credit Union
With more than 1 million members and $19 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across six states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.
Contact: publicrelations@macu.com, macu.com/newsroom
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