U t a h D i s t r i ct O f f i c e
                                             U. S . S m a l l B u s i n e s s                                             125 South State Street
                                                                                                                          Room 2227
                                                Administration                                                            Salt Lake City, Utah
                                                                                                                          T e l e p h o n e : (8 0 1 ) 5 2 4 - 3 2 0 9

                                                                                                                          February 9, 2009


 INSIDE THIS ISSUE:                               DA RY L H A I R S T O N, AC T I N G
  Daryl Hairston, Acting Administra-   1
                                                   ADMINISTRATOR OF THE
  tor of the U.S. Small Business
                                                     U. S . S M A L L B U S I N E S S
  Red Cliff’s Lodge, A success story   1
                                                          On January 20,           Contracting/Business Devel-
  SBA Efforts to Thaw Credit           2

  National Small Business Week
                                                2009, President Barack
                                                Obama designated Darryl
                                                                                   opment, the Office of Invest-
                                                                                   ment, and the Washington
                                                                                                                           2009 Resource
                                                Hairston, as Acting Adminis-       D.C. District Office. He be-               Guides
  Utah Small Business Awards           3        trator of the U.S. Small Busi-     gan his SBA career in 1978          We have received our shipment
                                                ness Administration.               as a business management            of the 2009 Resource Guides.
  Employee Spotlight—Georgia           3                                           specialist in the Charleston,
                                                                                                                       The guides contain information
                                                                                   W.V., District Office.              on Procurement, the various
  Loan Volume by Lender                4-5
                                                          Hairston currently
                                                serves as deputy associate                                             SBA Loan Programs, lender
                                                administrator for Manage-                   Hairston is ex-            contact information, resource
Save the Date:                                  ment and Administration, and       pected to serve as Acting           partners, and general informa-
                                                has served the agency over         Administrator until a perma-        tion on getting started in busi-
WBC– New Client Orientation
                                                the past 30 years in a variety     nent Administrator is con-          ness. Please either drop by our
2/5/2009           4—5 pm
2/19/2009          9-10 am
                                                of senior executive positions      firmed by the Senate.               office or contact us to get your
                                                in the Office of Government
Salt Lake Chamber                                                                                                      supply.
175 E 400 S, Ste 600
Salt Lake City, UT
                                                        RED CLIFF LODGE, A SUCCESS STORY
Business Essentials : Resolving
Conflict in the Workplace:                              Colin D. Fryer owns      car. While there, he decided        lodges. All funds raised are contrib-
2/11/09             8:30—10 am                and operates several major         to explore the area.                uted to several local charities.
Tax Time Discipline:                          businesses in Southern Utah.                  He sold his business               As a small business owner,
2/19/09             12—1:30 pm                He began his entrepreneurial       in Salt Lake and bought the         Colin has had a major impact in
Disadvantaged Business Enter-                 career just after high school in   ranch with the assistance of        Grand County. His businesses are a
prise:                                        Salt lake City, where he owned     an SBA 504 loan. He opened          key source of employment and tax
2/25/09            1:30—4:30 pm               and operated a car stereo          the first motel/lodge in 1990       revenue in this county. His lodges
Salt Lake Chamber                             business. After opening three      and called it Red Stone Inn.        and adventure motels attract tour-
175 E 400 S, Ste 600                          additional stores, Colin sold      Currently Colin has seven           ists.
                                              the business and created U.S.      businesses, not only do the
Salt Lake City, UT
                                              Electronics, a wholesale stereo    lodges attract people because
                                              equipment business soon            of the ambiance and beauty
SBDC—Business Start-Up                        after. The business grew to
Seminar (Start Smart)                                                            of the area, the lodges pro-
                                              include stores in both Utah        vide amenities that delight
2/14/2009       10 am—12pm                    and Idaho and his customer
WSU Davis Campus, Rm 114                                                         the guests. Guests are en-
                                              base expanded when he              couraged to put their bikes in
2750 N Univ Park Blvd,                        added retail stores and the
Layton, UT                                                                       their rooms. The lodge pro-
                                              sale of waterbeds. Fryer oper-     vides areas to wash the bikes
                                              ated these stores for over 15      and make repairs. Rooms are
  Helping small businesses
                                              years.                             also provided for pets.
  start, grow and succeed.                              In 1989 while travel-               Colin is involved with
                                              ing through Southern Utah,         local community organiza-
                                              Colin saw an opportunity to        tions. For the past several
                                              pursue his dream. He experi-       years, Colin sponsored a
                                              enced car problems and was         “Goodwill Weekend” during
                                              stranded in Moab for several       the Labor Day holiday, where
 Your Small Business Resource                 days waiting for a part for his    he hosts several events at his
Page 2                                                                                                         U t a h D i s t r i ct O f f i c e


Business Women’s Forum
                                    SBA Efforts to Thaw U.S. Credit
2/17/09      11:30 am—1 pm
Asian Star Restaurant                      WASHINGTON – In this
7588 Union Park Blvd.                                                SBA also worked with the Treas-      turnaround times. Since 2006,
                                difficult credit environment, it’s   ury Department and the Federal       7(a) loan processing times have
Midvale, UT                     important to understand what’s       Reserve Board of Governors to        fallen by more than 50 percent.
                                happening in the market and the      ensure the new Term Asset-           In 2007, SBA took 279 days on
Franklin Covey’s—The 7 Habits   several extraordinary steps the      Backed Securities Loan Facility      average to pay lenders their
for Small Business Managers     U.S. Small Business Administra-      (TALF) program will help restore     guaranties; today it's less than
2/20/09 & 2/21/09               tion has taken in recent months.     buying activity in SBA’s dis-        25 days for correct loan pack-
8:30 am —4:30 pm                           Economic uncertainty      rupted secondary market, gener-      ages.
Ogden/Weber ATC                 has led to diminished small busi-    ating liquidity lenders need to                 The current Admini-
1843 West 4000 South            ness loan demand. Borrowers          step up their small business         stration also freed the program
Roy, UT                         are, on average, less creditwor-     lending.                             from volume limitations that
                                thy than in previous years.                     It has only been two      caused program shutdowns in
SBDC—Introduction To Market-    Lenders have also tightened          months since SBA changes to          2002 and 2004 by funding the
ing                             credit standards. At the same        rules on rates and pooling be-       program through modest fees
                                time, liquidity concerns have led
2/21/2009 10 am—12 pm                                                came effective, and those            and eliminating its $120 million
                                some lenders to raise cash re-
WSU Davis Campus, Rm 114                                             changes will take time to work       annual subsidy. Today, lenders
                                serves until the economy picks
2750 N Univ Park Blvd,                                               through the system. We think         don’t worry about the program
                                up again; other lenders have
Layton, UT                                                           the TALF will have a strong posi-    shutting down late in the year,
                                slowed SBA-backed lending be-        tive effect on the secondary         enabling them to market it more
                                cause the secondary market for       markets but this program also is     vigorously.
8(a) WorkShop                   those loans is still disrupted.
2/24/2009        10 am—12 pm                                         just getting off the ground.                    SBA has also modern-
                                           To address these is-
3/31/2009        10 am—12 pm                                                    SBA also has reminded     ized its processes and technol-
                                sues, SBA has taken several
Federal Building                                                     participating lenders of their       ogy. Last year, SBA updated
                                steps:                               authority to extend temporary        and simplified its program rule
125 S. State Street, Rm 2227
                                First, SBA added an alternative      payment relief for qualified bor-    book from over 1,000 pages to
Salt Lake City, UT              base interest rate lenders can       rowers struggling to repay their     400 pages and made it search-
                                use on SBA-backed loans, the         loans. SBA has asked lenders         able online. The agency also
SBDC Business Start-Up Semi-    one-month LIBOR rate (London         not to react to changing financial   upgraded its technology sys-
nar (Start Smart)               Interbank Offered Rate). By          variables, such as fluctuations in   tems, allowing lending partners
2/28/2009       10am—12 pm      creating a way for loan rates to     personal credit scores, declining    to service SBA loans electroni-
Business Information Center     be more in line with lenders’        collateral values, and reduced       cally.
2036 Lincoln Ave. Suite 105     costs, this change helps lenders     home equity by broadly calling                  These changes are
Ogden, UT                       continue to be profitable on new     borrower loans.                      having an effect. Over the last
                                SBA loans despite current diver-                In recent months, SBA     year, SBA has seen a net in-
Emprenda su propio negocio      gence between interest rates         staff has met with hundreds of       crease in active lenders, specifi-
As needed      801-645-6458     and costs of funds.                  lenders around the country to        cally community banks.
Ogden BIC                                                            review their strategies and port-
2036 Lincoln Ave., Ste 105      Second, SBA allowed a new            folio quality, and to encourage
Ogden, UT                       structure – Weighted Average         their use of SBA products, solic-
                                Coupon Pools – for pools of SBA      iting feedback on their problems
                                securities sold in secondary         and how SBA can improve its
                                markets, improving profitability     products and services.
SBDC Business Start-Up Semi-    and adding liquidity into the                   In response, last year
                                secondary market for SBA-            SBA launched Small/Rural
nar (Start Smart)
                                guaranteed loans. Because the        Lender Advantage to help small
3/14/2009       10am—12 pm
                                average interest rate is used for    and rural lenders by streamlin-
Business Information Center     these pools, they are easier for     ing the loan process so they can
2036 Lincoln Ave. Suite 105     pool assemblers to create and        better reach underserved mar-
Ogden, UT                       more attractive to potential in-     kets.
                                vestors.                                        SBA has also modern-
SBDC—Introduction To Finance              These important            ized its programs to make the
(Money Smart)                   changes address immediate            agency a better partner for lend-
3/21/2009 10 am—12 pm           problems faced by lenders and        ers. It centralized its loan proc-
WSU Davis Campus, Rm 114        investors, problems that re-         ess from 68 sites to six, a
2750 N Univ Park Blvd,          duced capital availability for       change long requested by lend-
Layton, UT                      small businesses.                    ers, to standardize procedures,
                                                                     upgrade technology and cut
U t a h D i s t r i ct N e w s l e t t e r                                                                            Page 3

                         National Small Business Week 2009
                                   Save the Date!
                                                                                                Small Business Week
                                             business owners from across the
       SBA to Mark                           country will gather for three days of
                                                                                     award winners will meet with
                                                                                     top agency officials, congres-
56th Year with Issue                         events at the city’s Mandarin Ori-      sional representatives and
Forums, Receptions,                          ental Hotel to be honored for their     national business leaders. The
                                             accomplishments as the nation’s
And the Naming of Na-                        leading small businesses. The
                                                                                     State Small Business Award
                                                                                     Winners and recipients of the
tional Small Business                        highlight of events will be the an-     Champion and other Entrepre-
Person of the Year                           nouncement of the National Small        neurial awards are nominated
                                             Business Person of the Year.            by local trade associations,
WASHINGTON          –
                   The nation’s                        Men and women also will       chambers of commerce and
top entrepreneurs will be hailed             be recognized for their involvement     business organizations and
at the U.S. Small Business Ad-               in disaster recovery, government        government agencies.
ministration’s National Small                contracting, and their support for                 Media outlets are
Business Week events May 17-                 small businesses. Awards also will      encouraged to cover National
19, in Washington, D.C., mark-               be presented to SBA partners in         Small Business Week events,
ing the 56th anniversary of the              financial and entrepreneurial de-       and can register online. Addi-
agency, and the 46th annual                  velopment, including SCORE Chap-        tional information on the
proclamation of National Small               ter, Small Business Development         Small Business Week 2008
Business Week.                               Center and Women’s Business             events is available at
          More than 100 small                Center of the year.                     www.sba.gov/sbw.

       AWA R D S L U N C H E O N
             We would like to send a big “thank you” to all of those who took
   time to submit nominations for this years Small Business Awards. We feel
   that we had some really deserving nominees and look forward to honoring
   the winners at the upcoming Small Business Awards Luncheon. The
   luncheon will be held on Monday, May 4, 2009 at the Joseph Smith Me-
   morial Building. Please mark this date on your calendars. More details
   will be forthcoming in the near future.

          Georgia Yoshida is a                  At that time, all of the loan         touches so many small busi-
Business Development Spe-                       logs were hand written and            nesses! The first month that
cialist in the Utah District                    the office had one WANG               she started working at SBA
Office of the Small Business                    computer to share among               as an LSA, the office ap-
Administration (SBA), which                     28 employees. After spend-            proved 20 loans. Last year
is based in Salt Lake City.                     ing one year at SBA, she              the average monthly loan
She currently serves as the                     moved to the Regional Solici-         approval was 230 loans.
Public Information Officer                      tor’s office of the Bureau of                  This year, Georgia
and SCORE liaison. She has                      Reclamation. She then re-             will celebrate her 35th wed-
worked for the federal gov-                     turned to SBA two years               ding anniversary with her
ernment approximately 21                        later as a Loan Servicing             husband Max. She abso-
years, 19 of those years at                     Assistant (LSA).                      lutely adores her son Toby,
the SBA. Georgia started                                  Georgia feels work-         daughter-in-law Mui and her
her career at SBA, as a tem-                    ing for the SBA has been              grandchildren, Taison and
porary employee in the Port-                    totally awesome – what                Maia.
folio Management Division.                      other agency personally
                                                 January            January          YTD Loan
                     LENDER                    Loan Numbers       Total Dollars      Numbers          YTD Dollars
AMERICA FIRST FCU                                             8           $212,000               27           $867,000
AMERICA WEST BANK                                             0                  0                2         $2,367,300
AMERICAN BANK OF COMMERCE D/B/A AMBANK                        0                  0                0                  0
AMERICANWEST BANK                                             6         $1,015,000               11         $2,141,000
BANCO POPULAR NORTH AMERICA                                   2         $1,260,800                8         $2,795,100
BANK OF AMERICA, NATIONAL ASSOCIATION                         0                 0                 0                 0
BANK OF AMERICAN FORK                                         0                 0                 5           $762,500
BANK OF THE WEST                                              0                 0                 1           $335,000
BANK OF UTAH                                                  1          $150,000                 5           $578,000
BARNES BANKING COMPANY                                        1          $500,000                 1           $500,000
BEACH BUSINESS BANK                                           0                  0                1           $975,000
BEEHIVE CU                                                    3            $93,000               11           $413,000
BRIGHTON BANK                                                 1          $150,000                 2           $205,000
CACHE VALLEY BANK                                             0                 0                 0                 0
CAPITAL COMMUNITY BANK                                        0                 0                 0                 0
CAPITAL ONE BANK (USA), NATIONAL ASSOCIATION                  0                 0                 0                 0
CAPITAL ONE, NATIONAL ASSOCIATION                             0                  0                0                  0
CELTIC BANK CORPORATION                                       6         $1,910,000               27         $9,976,600
CENTRAL BANK                                                  0                 0                 3           $265,100
CIT SMALL BUSINESS LENDING CORPORATION                        0                 0                 0                  0
COMERICA BANK                                                 0                 0                 0                 0
COMPASS BANK                                                  0                 0                 2         $1,122,000
CONTINENTAL BANK                                              0                 0                 0                  0
CYPRUS FCU                                                    2           $60,000                 5           $180,000
DESERET FIRST FCU                                             5          $130,000                16           $517,900
FIRST COMMUNITY BANK                                          0                 0                 0                 0
FIRST UTAH BANK                                               0                 0                 1            $70,000
FRONTIER BANK, FSB                                            0                 0                 3           $215,000
GOLDENWEST FCU                                                3          $140,000                12           $415,000
GRANITE FCU                                                   1           $30,000                 2            $80,000
HERITAGEWEST FCU                                              4          $322,300                11           $520,000
HORIZON UTAH FCU D/B/A HORIZON CU                             1            $10,000                4            $90,000
INNOVATIVE BANK                                               0                  0                0                  0
IRWIN UNION BANK AND TRUST COMPANY                            0                 0                 0                 0
JORDAN FCU                                                    2          $100,000                 9           $315,200
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                     0                 0                 1            $47,200
KEYBANK NATIONAL ASSOCIATION                                  3          $910,000                 7         $1,477,600
LEHMAN BROTHERS BANK, FSB                                   0                    0                0                  0
MOUNTAIN AMERICA FCU                                       38           $3,188,100              216         $9,242,900
MOUNTAIN WEST BANK                                            0                  0                1          $207,000
MOUNTAIN WEST SMALL BUSINESS FINANCE                          6         $2,222,000               36        $14,569,000
NEVADA STATE BANK                                             0                 0                 0                 0
PNC BANK, NATIONAL ASSOCIATION                                0                 0                 0                 0
PRIME ALLIANCE BANK                                           0                 0                 0                 0
SAEHAN BANK                                                   0                 0                 0                  0
SOUTHWEST COMMUNITY FCU                                       0                 0                 1            $10,000
STATE BANK OF SOUTHERN UTAH                                   0                 0                 4           $545,700
SUNFIRST BANK                                                 0                  0                0                  0
SUPERIOR FINANCIAL GROUP, LLC                                 1            $15,000                3            $37,500
TEMECULA VALLEY BANK                                          1          $610,000                 1           $610,000
THE FIRST NATIONAL BANK OF LAYTON                             0                 0                 3           $643,000
THE HUNTINGTON NATIONAL BANK                                  0                 0                 2           $522,000
THE VILLAGE BANK                                              0                 0                 0                 0
                                                                  January                  January
                      LENDER                                    Loan Numbers             Total Dollars        YTD Loan Numbers           YTD Dollars
U.S. BANK NATIONAL ASSOCIATION                                                   4                $175,000                  17                 $2,295,000
UNITED MIDWEST SAVINGS BANK                                                      0                       0                     0                        0
UNITED WESTERN BANK                                                              0                       0                     0                        0
UNIVERSITY OF UTAH FCU                                                           1                $400,000                     1                 $400,000
UPS CAPITAL BUSINESS CREDIT                                                      0                       0                     0                        0
USU CHARTER FCU                                                                  0                       0                     0                        0
UTAH CENTRAL CREDIT UNION                                                        0                       0                     2                 $100,000
UTAH CERTIFIED DEVELOPMENT COMPANY                                               6              $2,358,000                    28              $15,723,000
UTAH COMMUNITY FEDERAL CREDIT UNION                                              0                       0                     0                        0
UTAH FIRST FCU                                                                   3                $130,000                     5                 $210,000
VECTRA BANK COLORADO, N.A.                                                       1                 $40,000                     2                  $75,000
WACHOVIA SBA LENDING, INC.                                                       0                       0                     0                       0
WASHINGTON MUTUAL BANK                                                           0                       0                     0                       0
WEBBANK                                                                          0                       0                     0                       0
WELLS FARGO BANK, NATIONAL ASSOCIATION                                           2                $215,000                    19               $5,446,800
ZIONS FIRST NATIONAL BANK                                                       52              $3,470,600                   217              $12,723,400
         For Questions Regarding Loan Numbers in this report please contact Pat Fewkes at (801) 524-3218 or email: patricia.fewkes@sba.gov.
TOTALS                                                                         164             $19,816,800                   735              $90,590,800

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