SALT LAKE CITY -- First Security Corp. said it has formed a subsidiary, First Security Business Investment Corp., to make investments in small companies.
The unit has applied to the U.S. Small Business Administration for an investment company license.
|Has Recognized a Need'
"First Security has recognized a need for alternative financing sources for many small businesses in our market area...whose financing needs are not being met by conventional lending sources," said Mark D. Howell, the new unit's president.
