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Show 12 SB A chief asks more contracts for small businesses The director of the Small Business Administration for Utah Wednesday called for a small business preference which could increase act government contracts awarded smaller enterprises. Clair Hopkins told the business subcommittee of the state legislatures Business, Labor and Economic Development Committee that the federal government already has such a program. At Hill Air Force Base, for example, are set aside specifically for purchases from small businesses. Hopkins, a former purchasing agent for the state, said small businesses in Utah already get the majority of orders, but not necessarily the most business in quantity. Preference legislation for small businesses would demonstrate the states interest in preserving and promoting small business, he said. I think small business is requisitions the free enterprise system, Hopkins declared. and Hopkins Grant Evans, of the SBAs lending and servicing division, told committee members how the agency functions in the state and explained some of its programs. Evans noted that Utah has been among the nation's leaders in small business He laid the bankruptcies. blame on businesses being venturesome" in Utah and NEW STANDARDS in the Audio Visual Field a RONEO-VICKER- their lending practices. According to Hopkins, there is a dearth of capital for business startups that may be somewhat risky or which only involve an idea but no investment or research and development by the promoter. But if the promoter has put something into the business or has a good track record, banks are really quite liberal," Hopkins asserted. Once a bank has approved a loan, the SBA will also if involves long-tercredit. This may mean loans for five to six years for working capital, eight to ten for machinery and it it equipment, 15 years for existing buildings, and up to 20 years for new construction. Banks may charge a maximum rate pegged to the prime rate (now 9.5) on an SBA guaranteed loan. Direct loans are made by the SBA at lower interest rates. The SBA has pumped approximately $60 million into Utahs economy through 560 loans in the fiscal year ending Sept. 30, Hopkins said. -- S L-2-00 SPIRIT DUPLICATOR , in m 1TRQDUCES ELMO 16 CL A A 16mm SOUND PROJECTOR somewhat being more conservative examine HIV c bankers percent of that was private money, and the total was 219 percent of the Ninety-eig- ht goal set for the state. The total figure compares with $36 million the year before and smaller amounts before that. Of course, the SBA only provides that guarantee if it considers the business a good risk. As a result, defaults have been below 5 percent and recoveries on liquidation have been 70 percent in Utah. Hopkins claimed, figures which are far better than the national average. But, in light of all the bankruptcies in the state, "maybe wre have been too conservative, he said. Hopkins also defended the amount of paperwork involved. He said it wras no more than a bank would require in making a loan and there is no excess information called for. The data includes facts on character and finances of an applicant and an annual financial statement. Other SBA programs which Hopkins listed included a management assistance program in which retired executives provide advice to businesses, a student intern- ship program, and profesmanagement or accounting help for problem" sional borrow'ers. New corps CONSTRUCTION COMPANY, INC, 673 E 1950 S, Bntfl, DIR: Robert E. Harker, 673 E 1950 S, Bntfl. DIR: Robert e. Harker, 673 E 1950 S, Bntfl; Margaret A. Harker, same add; Charles R. ELEC- 063-HARK- A. BEEHIVE AUDIO VISUAL PHOTOGRAPHIC CORP. and Photographic Needs CITY. UTAH 841 10 PHONE Harker, same add. To engage in the business of erecting or altering public buildings of types. Supplying Your Audio Visual 60 jfis EAST SO. TEMPLE SALT LAKE Qs) Gtea3iM Ess o o o 0Hil sta oo aftSW 6fl) ffi (DSGfil 531-147- 4 j)lQ efts 8 ffi 0089 (fe (MCasb TRIC, INC, Box 374-?- , Morgan 84070, DIR: Micheal Box 374-1- , Morgan 84070: Raymond D. J. Mcmillan, McMillan RFD, Morgan 84070; Ann T. McMillan, box 374-To Morgan 84070. 1, engage in the electrical contracting business. J. MCMILLAN CORP, Box 374-1- , Morgan 84070, DIR: Michael J. McMillan, Box 374-1- , Morgan 84070; ann T. 065-MICIIA- McMillan, same add; Raymond D. McMillan, RFD, Morgan, Ut 84070. To engage in the ranching & farming fibtDOb business. IRRIGATION INC, 1350 E. Main, Lehi 84043 066-HADFIE- OO ooo DIR: John L. Hadfield, 1350 E. Main, Lehi 84043; S.H. Hibbert, 1075 E. Entr., Bntfl. 84010; Jane E. Hadfield 1350 To E. Main, Lehi 84043. engage in & to do any lawful act concerning all lawful 300 business. SNOW, INC, 23 N 50 E, St. George 84770, DIR: Ruth B. Snow, 23 N 50 E, St. 067-E.- leoSJD B. George 84770; Stanley E. Snow, Box 191, Twin Falls, IDA 83301; Earl B Snow. Box 764, St. George 84770. To f ooo m-o0- 0 engage in the general business of real estate development. fe CEB MCEWAN MINIATURES, 840 W . 1700 S.,SLC 84104. DIR: John S. McEwan, 380 D St.. SLC 84103, Mary S. CEEBBi Q 3S0EE) QDB, GBBED McEwan, same add; Rodney F. Hale, 2271 S. 17 E..SLC 84106; To create, manufacture & distribute military |
