Lenders › Mountain West Small Business Finance
504 CDCSalt Lake City, Utahcertified development company6th of 182 by approvals
Mountain West Small Business Finance
SBA 504 loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Mountain West Small Business Finance, based in Salt Lake City, Utah, is a certified development company (CDC) that makes SBA 504 loans. SBA approved 1,303 of its 504 loans worth $1.30bn in FY2021 to FY2025, which places it 6th of 182 active CDCs by number of approvals.
In FY2025, the latest complete fiscal year, it had 264 approvals totalling $325M, up 22% on FY2024 (216). FY2026 to 30 Jun 2026 adds 182 more.
The median approval was $684K, against $657K for the 504 program as a whole; 3.2% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 11 states and territories and 98 counties, led by Utah (79.4%), Colorado (7.8%) and Wyoming (5.4%). The largest industry group was health care and social assistance at 13.8% of approvals, and 8.2% of approvals were to franchise businesses.
Of 2,140 disbursed loans approved in FY2010 to FY2021, SBA records 13 as charged off (0.6%), 1,038 as paid in full and 1,089 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 182 | $221M | $722K | $1.2M | 1,750 |
| FY2025 | 264 | $325M | $812K | $1.2M | 2,859 |
| FY2024 | 216 | $226M | $764K | $1.0M | 1,875 |
| FY2023 | 191 | $198M | $613K | $1.0M | 2,048 |
| FY2022 | 306 | $292M | $653K | $954K | 3,764 |
| FY2021 | 326 | $264M | $563K | $810K | 2,822 |
| FY2020 | 233 | $170M | $441K | $728K | 1,860 |
| FY2019 | 189 | $134M | $458K | $708K | 1,798 |
| FY2018 | 192 | $156M | $521K | $815K | 2,078 |
| FY2017 | 182 | $129M | $500K | $710K | 2,080 |
| FY2016 | 164 | $115M | $402K | $699K | 2,302 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 960 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Utah | 504 program |
|---|---|---|---|
| Approvals in these years | 2,331 | 2,870 | 85,591 |
| Cancelled or never disbursed | 191 | 222 | 12,514 |
| Disbursed loans | 2,140 | 2,648 | 73,077 |
| Paid in full | 1,038 | 1,286 | 35,491 |
| Charged off | 13 | 14 | 905 |
| Still outstanding (status exempt from disclosure) | 1,089 | 1,348 | 36,681 |
| Charged off, share of disbursed loans | 0.6% | 0.5% | 1.2% |
| Dollars charged off, share of disbursed dollars | 0.4% | 0.4% | 0.9% |
| Dollars charged off | $6.1M | $7.2M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 286 | 51 | 0 | 0.0% | 0.1% |
| FY2020 | 219 | 56 | 0 | 0.0% | 0.1% |
| FY2019 | 172 | 41 | 0 | 0.0% | 0.3% |
| FY2018 | 174 | 56 | 1 | 0.6% | 0.4% |
| FY2017 | 168 | 88 | 1 | 0.6% | 0.8% |
| FY2016 | 150 | 80 | 2 | 1.3% | 1.0% |
| FY2015 | 131 | 71 | 0 | 0.0% | 1.2% |
| FY2014 | 143 | 90 | 1 | 0.7% | 1.3% |
| FY2013 | 163 | 111 | 1 | 0.6% | 1.4% |
| FY2012 | 183 | 136 | 0 | 0.0% | 2.0% |
| FY2011 | 187 | 138 | 2 | 1.1% | 2.1% |
| FY2010 | 164 | 120 | 5 | 3.0% | 3.4% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 504 program
| FY2021–FY2025 | This lender | 504 program |
|---|---|---|
| Median approval | $684K | $657K |
| Average approval | $1.0M | $1.0M |
| Approvals of $150,000 or less | 3.2% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 16.5% | 14.4% |
| Approvals to franchise businesses | 8.2% | 9.0% |
| Jobs supported per approval, as reported | 10.3 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 0.6% | 1.2% |
States served
| # | State of the business (11 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Utah | 1,034 | $1.03bn | 79.4% | |
| 2 | Colorado | 101 | $128M | 7.8% | |
| 3 | Wyoming | 70 | $54.9M | 5.4% | |
| 4 | Idaho | 50 | $32.4M | 3.8% | |
| 5 | Nevada | 24 | $28.4M | 1.8% | |
| 6 | Montana | 10 | $12.7M | 0.8% | |
| 7 | Arizona | 8 | $12.2M | 0.6% | |
| 8 | California | 3 | $5.5M | 0.2% | |
| 9 | New Mexico | 1 | — | 0.1% | |
| 10 | Wisconsin | 1 | — | 0.1% | |
| 11 | Washington | 1 | — | 0.1% |
In Utah the lender accounts for 74.2% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (98 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Salt Lake County, UT | 337 | $351M | 25.9% | |
| 2 | Utah County, UT | 231 | $222M | 17.7% | |
| 3 | Washington County, UT | 103 | $105M | 7.9% | |
| 4 | Cache County, UT | 79 | $71.6M | 6.1% | |
| 5 | Davis County, UT | 75 | $75.6M | 5.8% | |
| 6 | Weber County, UT | 49 | $56.1M | 3.8% | |
| 7 | Summit County, UT | 22 | $20.3M | 1.7% | |
| 8 | Iron County, UT | 21 | $15.7M | 1.6% | |
| 9 | Clark County, NV | 18 | $17.8M | 1.4% | |
| 10 | Box Elder County, UT | 18 | $14.5M | 1.4% | |
| 11 | Sheridan County, WY | 18 | $8.7M | 1.4% | |
| 12 | Denver County, CO | 17 | $15.8M | 1.3% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 180 | 13.8% | |
| 2 | Accommodation and Food Services | 173 | 13.3% | |
| 3 | Retail Trade | 171 | 13.1% | |
| 4 | Construction | 151 | 11.6% | |
| 5 | Other Services (except Public Administration) | 125 | 9.6% | |
| 6 | Manufacturing | 118 | 9.1% | |
| 7 | Professional, Scientific, and Technical Services | 109 | 8.4% | |
| 8 | Real Estate and Rental and Leasing | 78 | 6.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 80 | 6.1% | |
| 2 | Traveler AccommodationNAICS 7211 | 65 | 5.0% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 59 | 4.5% | |
| 4 | Other Specialty Trade ContractorsNAICS 2389 | 52 | 4.0% | |
| 5 | Offices of Other Health PractitionersNAICS 6213 | 48 | 3.7% | |
| 6 | Lessors of Real EstateNAICS 5311 | 42 | 3.2% | |
| 7 | Offices of DentistsNAICS 6212 | 39 | 3.0% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 38 | 2.9% | |
| 9 | Automobile DealersNAICS 4411 | 31 | 2.4% | |
| 10 | Child Day Care ServicesNAICS 6244 | 26 | 2.0% |
Approval sizes
- $50,001 to $150,0003.2%42
- $150,001 to $350,00020.0%260
- $350,001 to $1 million43.4%566
- $1 million to $2 million21.1%275
- Over $2 million12.3%160
Loan terms
- Over 5 to 10 years1.6%21
- Over 10 to 20 years3.1%41
- Over 20 years95.2%1,241
Age of the businesses
- Existing, more than 2 years old81.7%1,065
- New business, 2 years or less1.6%21
- Startup, loan funds will open the business14.9%194
- Change of ownership1.8%23
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accredited Lenders Program | 980 | 75.2% | |
| 2 | ALP Express | 175 | 13.4% | |
| 3 | 504 Refinancing Program | 108 | 8.3% | |
| 4 | Premier Certified Lenders Program | 14 | 1.1% | |
| 5 | 504 Basic | 13 | 1.0% | |
| 6 | ALP Express Debt Refi | 12 | 0.9% |
Franchise share
107 of 1,303 approvals in FY2021–FY2025 (8.2%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Culver's ButterBurgers & Frozen Custard | 7 | 0.5% | |
| 2 | Best Western | 6 | 0.5% | |
| 3 | Master Muffler | 5 | 0.4% | |
| 4 | Bee Hive Homes | 4 | 0.3% | |
| 5 | Quality Inn | 4 | 0.3% | |
| 6 | Bath Fitter | 4 | 0.3% | |
| 7 | Holiday Inn Express | 3 | 0.2% | |
| 8 | Days Inn | 3 | 0.2% |
Third-party lenders in its 504 projects
A 504 project pairs the CDC's loan with a larger loan from a bank or other lender. Banks and credit unions named on five or more of this CDC's projects in FY2021–FY2025:
| # | Third-party lender | Projects | Share | |
|---|---|---|---|---|
| 1 | Cache Valley Bank | 155 | 11.9% | |
| 2 | Mountain America FCU | 136 | 10.4% | |
| 3 | Community Banks of Colorado, A Division of NBH Bank | 108 | 8.3% | |
| 4 | Glacier Bank | 87 | 6.7% | |
| 5 | JPMorgan Chase Bank, National Association | 77 | 5.9% | |
| 6 | America First Federal Credit Union | 77 | 5.9% | |
| 7 | Zions Bank, A Division of | 68 | 5.2% | |
| 8 | State Bank of Southern Utah | 62 | 4.8% | |
| 9 | Central Bank | 53 | 4.1% | |
| 10 | Canyon View Federal Credit Union | 46 | 3.5% |
Questions and answers
How many SBA loans does Mountain West Small Business Finance make?
SBA approved 264 504 loans through Mountain West Small Business Finance in FY2025, worth $325M, and 1,303 over FY2021 to FY2025. That ranks 6th of 182 active CDCs by number of approvals.
How large are Mountain West Small Business Finance's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $684K and the average $1.0M. The program-wide median was $657K.
What is Mountain West Small Business Finance's charge-off rate?
Of 2,140 disbursed loans approved in FY2010 to FY2021, SBA records 13 as charged off (0.6%), 1,038 as paid in full and 1,089 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Mountain West Small Business Finance lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (80); traveler accommodation (65); automotive repair and maintenance (59); other specialty trade contractors (52).
Where does Mountain West Small Business Finance make SBA loans?
In 11 states and territories. Utah 1,034, Colorado 101, Wyoming 70, Idaho 50, Nevada 24. In Utah it accounts for 74.2% of all 504 approvals.
Is Mountain West Small Business Finance's SBA lending rising?
Approvals in the three latest complete fiscal years total 671, against 865 in the three before: falling (-22%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error