Deseret Certified Development Co. received an award from the National Association of Development Companies for creating investments and jobs in Utah.
The Salt Lake company was recognized as the most active administrator in Utah of Small Business Administration 504 funds.In 1988, Deseret Certified approved 38 loans, totaling $8.3 million in SBA financing. The firm ranks seventh among 600 certified development companies nationwide in the number of loans it approves and administers for the SBA. In 1987, Deseret Certified ranked ninth out of 245 national companies.
Deseret Certified president Scott Davis said his 7-year-old firm's $18 million in total capital investments in Utah small businesses has resulted in 2,000 jobs since 1982.
These SBA loans can be used to purchase land, facilities or equipment or construct new facilities and renovate or remodel existing buildings, Davis said.