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Show .,.Wt.ta--mWlg- A4-T- Thursday, March 9, 1989 Tlmes-lndepende- he UPDATE ISSs Part Two Financing Southeast Utah Entrepreneurs This is the second of a continuing series dealing with doing business in Southeast Utah. The information is compiled by the Southeastern Utah Association of Local Governments and the Utah Small Cities, Inc., a corporation addressing economic development issues of k rural Utah. The series is expected to be an to resource new and expanding businesses important guide of Carbon, Emery, Grand and San Juan Counties. ..tV,..,rf.y..y.1..,-.,,tlf--.i y.,...)... $198,000 bids received by BLM for carbon dioxide leases Bids totaling more than $198,000 were received for oil, gas and carbon dioxide leasing rights on 19 parcels offered by the Bureau of Land Management at an oral auction held on February 28, 1989 in Salt Lake City, Utah. The parcels, managed primarily by the Forest Service, are adjacent to the Phipps Hollow Wilderness Area in Garfield Box-Dea- th County, Utah. Bids ranged from the federally mandated minimum of $2 per acre to $30 per acre for a parcel offered for only carbon dioxide leasing. The highest total bid of $25,086 was for this parcel, totaling 794 acres. Vern Jones of Salt Lake city, Utah was the successful bidder. Only one other parcel was offered for carbon dioxide leasing. Lockard and Associates, Inc. from Denver, Colorado acquired the All I Business Development velopment and encourage young entrepreneurship and give new emphasis to its program to increase exports by small firms. The Agency continues to provide information and assistance to veterans and women small business owners. Gerald Randall, Acting SBA Dis Ralphs Machines trict Director, reported two firms eas." Financial Assistance Programs Randall pointed out that the SBA offers a variety of loans and financial assistance to eligible small busismall nesses, to privately-owne- d business investment companies and to area development companies. These include regular business loans made by private lenders, with partial guarantees by SBA. Special loan programs include: small general contractors loans, seasonal line of credit guarantees, energy loans, handicapped assistance loans, export revolving line of credit, and disaster 524-320- 9. 524-321- y, 2-- 637-470- 0, 4 637-278- 8; 381-557- 587-223- 8; 6; 1; 266-044- 3. Randall said. About the SBA 504 Loan Program leasehold and improvements modernization. Section 504 loans cannot be used to finance working capital or inventory. Certified development companies (CDCs) operate the fixed asset financing activities who loan up to $750,000 to eligible small-an- d medium-size- d businesses. SBA par- ticipation does not exceed 40 percent of the total cost of land, buildings 259-647- 4 Dean Platis, Ph.D Audiologist Kathy Olympia, M.S. Monte Ward & John Fogg Moab men took awards at big lifting meet Three Moab men competed Feb. 15, 1989 at the annual Utah State Power Lifting Meet. The meet, held every year, is sanctioned by the United States Power Lifting Federation. The three men competing were John Fogg, Tony Lema and Monte Ward. Power lifting involves three events: the bench press, dead lift and the squat. Contestants have three tries in each event to reach their maximum lifts. Failure to make a successful lift in any event disqualifies the contestant from finishing the competition. Fogg placed second in the 165 pound class in both the open and natural (drug free) divisions, first in the masters division, and he also set the new state record for the dead lift by lifting 496 pounds. Grand County High School student Monte Ward placed fifth in the same 165 pound class and won an award for the best high school lifter. This was Monte's second meet to compete in and the first one in which he has Hearing evaluation & hearing aids Medicaid & Medicare accepted. Senior Citizen Discount. Next Moab Clinic Day Friday, March 10, 1989 at Allen Memorial Hospital For appointment Phone -- a.m. - 9 5 p.m. - 259-719- 1 Ask for Robin placed. All three men work out at the Moab Fitness Center on Bowling Alley Lane. The gym is owned and operated by John Fogg. Fund raiser set Mar. For Information Call Toll-Fre- e 17 support H. S. Rodeo One-Sto- p 259-638- Machinist, Tool Maker SPEECH CENTER & at Civic Center to The SBA 7(a) Loan Program The SBA has a Center guarantees bank loans to eligible where potential borrowers can get small businesses that plan to use the information on all loan programs and other business assistance offered money for expansion projects. This program is not available to a by the Agency-(80- 1) borrower who plans to buy or build Businesses in Carbon, Emery, Grand an asset with the intention of leasing and San Juan County can contact it and thereby collecting passive or Robert Curtis, (801) 9 to investment income. discuss SBA 7(a) loans. The SBA makes loans either along Certified & Preferred Lenders with a lender (where the lender proThe SBA recognizes certain lendvides a certain percentage of the ing institutions as certified and prefunds) or, under the guarantee plan, the bank or other lender provides all ferred lenders. Borrowers can benefit from applications filed with Certified the money and the SBA guarantees Lenders in case a Program banks (CLP) by of only portion repayment faster service and the availability of resources that provide greater assisAn 85 percent guarantee on loans tance to small business. Certified 90 or on to $750,000 up percent lenders include commercial banks, lafger loans is typically provided. Loan proceeds may be used for savings and loan associations, and fixed assets (buying property or other qualified lenders. The SBA says this group makes it possible for equipment), debt refinance, inven-tofturn around for loan apor working capital. Interest a three-da- y rates will reflect the current prime plications by the local SBA office. For a listing of S lending rate plus percent for and or seven more loans of up Lenders, contact one of the followyears over rate for to ing: Eastern Utah, Inc., (801) prime percent loans of less than seven years. Ext. 264; Carbon County Banks Speed Loan Applications Chamber of Commerce, (801) Grand County Economic DeWhen funds are available, SBA direct the a can consider velopment, (801) loan, but Emery wailing time can be as much as six County Economic Development San Juan months, according to Gerald Randall, Council, (801) SBA Acting Director in Utah. "Turn County Economic Development, around time through a lender can be (801) Deseret Certified as little as two to three weeks," Development Company, (801) m parts SALT LAKE HEARING re- cently being approved for direct loans that will enhance Grand County employment opportunities. "We're getting a lot more interest in SBA loans from banks in the Southeast Utah area, too," Randall noted, "and efforts are now being made to establish a small business investment company (SBIC) which will provide risk capital in rural ar- Small Business Administration 7(a) guaranteed loan There is a community economic development loan program supported by the Small Business Administration that can have a broad application to small businesses. This program is designed to make long-terlending available to small businesses, much as it is to large businesses who can sell their own longterm debentures. The program is available for the financing of building and land acquisition, construction, conversidn or expansion. It can also be used for makes-a- ll l machines--al- Small appliances? You Bet! loans. A surety bond guarantee program makes the bonding process accessible to small contractors who find bonding unavailable to them. These and other special programs will appear in future articles of UPDATE. Grand County Firms Get Loans Parts Available 1 to 3 days What Vac to buy? Call Me! I repair, rebuild, and sell them I know what makes a good machine, give me a call too. sharpen dull knives and scissors, all garden tools, sewing target small firms jin addition, SBA has special programs to reach particular segments of the small business community by targeting the Agencys assistance or providing specialized information. During FY 1987, SBA initiated programs to help rural business de- VACUUMS Service SBA programs years ago. Congress the ' Small Business Administration (SBA) to assist, counsel and champion America's small businesses. The Agency's mission is to help people get into business, help them stay in business, help small firms win federal contracts and to act as a strong advocate for small business. SBA's basic assistance programs are: Finance and Investment, Business Development, Procurement, Minority Small Business and Capital Ownership Development, Small Business Innovation and Research (SBIR), and Advocacy. Focus on Rural 0. All makes, models, and sizes, belts and bags 12-wee- created 524-533- VACUUMS VACUUMS non-prof- it Thirty-fiv- e duction, when the fees change to a 12.5 percent royalty fee. More information about this sale is available from the Bureau of Land Management, Utah State Office at (801) leasing rights on this 1,458-acr- e parcel at a cost of $18,300. Successful bidders must also pay a $75 filing fee and a yearly rental of $1.50 per acre for the first five years and $2 an acre thereafter until pro A Fund Raiser Dinner will be held at the Civic' Center on Fri' ' day, March 17 to support the High School Rodeo, to be held April 7 and 8. Dinner menu in- cludes roast beef and baked potato, salad, dessert and beverage for $5 per adult ticket and $2 for a child. In conjunction with the dinner, a Slave Auction will be held. This will be an opportunity to buy a teenager for a days work. Chip Brox will be helping with the Service held for Scott A. Winfield Funeral mass was held Wednesday, March 8, in Evanston, Wyo., for Scott Alan Wihnfield, 27, who died March 4, 1989 in Las Vegas, Nev., as a result of an industrial accident. He was bom May 14, 1961 in Moab to Wallace W. and Dannette Murphy Winfield, and was a grad- uate of Grand County High School. He is survived by his fiance, Lisa Bagwell, Winnemucca, Nev.; father, Gateway, Colo.; mother, Dannette Bergin, Moab; brothers. Bill, Reno, Nev., Bob, Carson City, Nev., John, Evanston, Wyo., Jim, Winnemucca; sisters. Cathy Frame, Randolph, Ut., Mary Grahler, Springfield, 111., Betty Winfield, Evanston, Wyo. The family suggests contributions to the American Hearth Association. SPECIAL PROGRAM Tune in Channel 6 Fridays at 7 p.m. for locally sponsored programming. and equipment at fixed rates with terms of ten or twenty years. Job Creation A Critical Factor Companies must show they'll create one new job for every $15,000 they receive in SBA 504 financing. Deseret Certified Development Company is the private, corporation granted certification by the SBA in 1981 to issue debentures to find the elibusiness expansion projects in gible Utah. According to Scott Davis, President of DCDC, the company has packaged loans of more than $20 million for existing Utah firms, resulting in the creation of retention of more than 1,900 jobs. Davis said nearly 35 percent of all Deseret's loans are in rural areas where financing is difficult and where job creation is critical. How It Works The development company pro- non-prof- it SBA-guarante- ed e m sale aacUon' Tickels High School Rodeo Club members of at Slash K Bar Western Wear. At the rodeo itself, there will be students from all over the state coming to compete in the State Qualifying Rodeo. Boys' events are bareback, saddle bronc, bulls, steer wrestling and calf roping. There will be girls' breakaway calif roping, poles, barrels and goat tying. For team roping, the team can by two girls, two boys, or a boy and a girl. A Queen Contest will be held Friday, with a luncheon at the Golden Stake Restaurant. Kathy Krist is the queen coordinator. A saddle will be awarded to the All Around Coyboy and All Around Cowgirl. Large Montana Silversmith belt buckles, engraved, will for to first place winners in each event. Carolyn Noyes is again the Adult Secretary and Advisor to the club. Officers include Jay Dalton, president, Helena Mosley, secretary, and Trinity Norton, vice president. The parents are all helping out with rodeo arrangements and planning, and Theresa King is in charge of advance ticket sales. MUCK ELH5. WINDSHIELDS Plate & Plexi Glass Mirrors Commercial Glass Insurance Work 1195 S. Hwy 191-259-87- 14 New FmHA Rural Loan Program Another federal loan program designed to create or retain jobs for residents in the rural areas of the state is the Farmers Home Administration (FmHA) Rural Loan Program (RLP). Emphasis of this program is mortgage lender at about 2 percent above U.S. Treasury Bond rates, fixed for the term of the loan; A business must get 50 percent of the project cost through a private lender who holds the first mortgage. The owner provides at least 10 percent of the cash required far the project. For more information contact Deseret Certified Development Company, 4885 South 900 East, 304, SLC, UT, 84117, (801) 266-044- 3. SALT LAKE IS FINALLY AFFORDABLE. Fly Alpine Air as low as $128 between round-tri- p. Moab Canyonlands Field and Salt Lake Intl for Eliminate the wear and tear of driving and enjoy the comfort, speed and scenery flying Alpine Air. ... AND 50 CITIES ACROSS AMERICA. In addition, Delta Air Lines and Alpine have teamed up to give you 50 additional cities at considerable savings. Fly Alpine to Salt Lake Inti and connect with Delta to more than 50 cities in the United States. Moab Canyonlands Field to: (sample cities and airfares) Atlanta Boston Chicago Honolulu Houston (2 airports) Los Angeles (5) Restrictions apply. All airfares are subject to change without notice. $128 round-triairfare is an advance purchase fare. Call your Travel Agent (Canyonlands Travel 5 or or Alpine Air at 1 373 1508 for reservations and information. Flight Schedule the creation or retention of jobs which supplement farm income. The MOAB CANYONLANDS FIELD (CNY) SALT LAKE CITY (SLC) m financing is unavailable through other private or public sector sources. The new loan program was capitalized with $800,000 to the Deseret Certified Development Company. Loans are only made in rural areas of the state in communities under 22,000 population. For more information, contact Howard Bird, Deseret Certified Development Company, 4885 South 900 East, 304, Salt Lake City, Utah 84117, (801) 266-043- 3. ARRIVE DEPART. 7 00 a m medium or long-terloans are made to eligible businesses in the Southeast Utah district where reasonable 00am. 310pm 4 00pm 8 All flights except as noted X - Except I - Mon 2 - Tue 3 Wed 4 - Hiu , , ' 8 25 a m 9 4 ( 10am 20pm Ffi b ' 0 5 10pm 5 STOPS - REMARKS X67 6 0 XB7 0 6 Sat 7 - |