Processing a record number of loans in 2020
In 2020, small businesses relied more than ever on their financial institution to obtain the financing necessary to keep their doors open and recover from the pandemic. Mountain America reallocated employees and improved efficiency to process additional loans and secure member funding as quickly as possible, resulting in a record number of loans in one year, including nearly $ 350 million in PPP loans.
âSmall businesses are the backbone of our local communities, and Mountain America remains committed to helping them succeed,â says Sterling Nielsen, President and CEO of Mountain America Credit Union. âThe past year brought an even greater need to support small businesses, and thanks to the incredible work of our entire team, we’ve been able to help a record number of businesses keep their employees on the payroll and get on their payroll. recover from the pandemic. ”
Helping businesses keep their doors open
Recently, Sean Forsgren, managing director of Strange Reptile, turned to Mountain America for a paycheck protection program loan. Mountain America was able to process its loan quickly and help keep its 20 employees on the payroll. In response to his work with Mountain America, Sean said, âYou are a hero to the 20 families who depend on our business for their work. Like most small businesses, this loan will make the difference between surviving the past year. or not.”
Leader in business loans and services
As a leader in business loans and services, Mountain America has been ranked for the past 16 years as the # 1 SBA lender for credit unions by Callahan and Associates. Currently, Mountain America ranks second nationally for corporate deposits from credit unions.
SOURCE Mountain America Credit Union