2024-11-14T14:00:39-08:00 2023-12-31 273907738 RSMEACHAM CPAS & ADVISORS 801 FRISCO AVE CLINTON OK 73601 990 2023-01-01 455151663 Southwest Intermediary Finance Team Inc SOUT 5807743750 100 Campus Dr Weatherford OK 73096 Doug Misak President 2024-11-14 true true Randolph S Meacham Jr P00239669 5803231766 X 2023 2024-10-15 13:58:12Z 100 Campus Dr Weatherford OK 73096 9551239 false X siftok.fund X 2012 OK To help develop a diverse economy that bolsters business start-up and retention while increasing employment opportunities in rural Oklahoma. 7 7 0 11 0 3057754 9266377 197392 284862 0 0 3255146 9551239 0 0 0 0 0 323564 651152 323564 651152 2931582 8900087 8334774 18934604 2898968 4598711 5435806 14335893 To help develop a diverse economy that bolsters business start-up and retention while increasing employment opportunities in rural Oklahoma. false false 616164 Loan advances 616164 true false false false false false false false false false true false true false true true true false false false false false false false false false false false false false false false false false false false false false true false false false false true false false false true 3 0 false 0 false false false false false false false 0 false false false false false false false X 7 7 false false false false false false false true true false false true false false true false false false OK X Lisa Thiessen 5807743750 100 Campus Dr Weatherford OK 73096 X Marvin Hankins Member 0.20 0.00 X 0 0 0 Beverly Ball Vice Chair 0.20 0.00 X 0 0 0 Randy Beutler Chairman 0.20 0.00 X 0 0 0 Andrew Carruth Member 0.20 0.00 X 0 0 0 Tom Fagan Member 0.20 0.00 X 0 0 0 Dennis Krueger Member 0.20 0.00 X 0 0 0 Diana Lovell Member 0.20 0.00 X 0 0 0 Doug Misak President 10.00 0.00 X 0 0 0 Lisa Thiessen Secretary 15.00 0.00 X 0 0 0 Leia Moore Treasurer 15.00 0.00 X 0 0 0 Max Pyron Vice President 15.00 0.00 X 0 0 0 0 false false false 0 9201077 65300 60000 9266377 FEES 57929 57929 INTEREST INCOME 226933 226933 284862 0 0 0 0 0 0 0 0 0 9551239 284862 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 29847 29847 35 35 7521 7521 0 0 603 603 17754 17754 0 0 36400 36400 0 96927 96927 5292 5292 Leased employees 241784 241784 Loan Loss Provision 168291 168291 ADMINISTRATIVE 16374 16374 MISCELLANEOUS 11005 11005 19319 19231 88 651152 616164 34988 0 1262994 1693400 0 0 0 0 0 0 0 0 487635 258948 257354 228687 0 0 6814426 17012517 0 0 8334774 18934604 14952 1418 2884016 4597292 1 2898968 4598711 X 5435806 14335893 5435806 14335893 8334774 18934604 8900087 X false true X true true true X 464913 188290 1808596 3057754 9206377 14725930 0 0 464913 188290 1808596 3057754 9206377 14725930 0 14725930 0 0 0 14725930 939954 1.00000 1.00000 X 487635 258948 228687 228687 17012517 Rounding 1 1 X 9551239 9551239 9551239 651152 651152 651152 Part X : FIN48 Footnote The FASB issued guidance on the accounting for uncertainty in income taxes. Management evaluates and accounts for their uncertain tax positions, if any, in accordance with current accounting guidance. Management has concluded that SWIFT has taken no uncertain tax positions that require adjustment to financial statements in order to comply with the provisions of this guidance. With few exceptions, SWIFT is no longer subject to income tax examinations for years ending on or before December 31, 2018. X 1 60000 Actual wages paid false false false Form 990, Part VI, Section B, Line 11b A draft of the 990 was securely emailed to the President and Secretary, who in turn forwarded the draft to the board members. Members were encouraged to review the 990 and pose any questions before the return was e-filed. Form 990, Part VI, Section C, Line 19 Upon request from the general public all formation documents and the last three years of tax returns are made available within a reasonable amount of time. Amended and Restated Bylaws Southwest Intermediary Finance Team Inc is no longer a membership organization as of June 4, 2024. Loans Issued Through USDA Intermediary Relending Programs In February 2023, SWIFT issued a promissory note to Mother Road RV, Boat & Trailer Storage, LLC for $350,000 with a 4.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through the intermediary relending program offered by the USDA. As of December 31, 2023, the balance of the note receivable was $338,330.In July 2023, SWIFT issued a promissory note to Weatherfod Regional Hospital for $350,000 with a 4.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through the intermediary relending program offered by the USDA. As of December 31, 2023, the balance of the note receivable was $331,641.In August 2023, SWIFT issued a promissory note to Elkview General Hospital for $400,000 with a 4.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through the intermediary relending program offered by the USDA. As of December 31, 2023, the balance of the note receivable was $383,526.In August 2023, SWIFT issued a promissory note to 4E Ventures for $400,000 with a 5.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through the intermediary relending program offered by the USDA. As of December 31, 2023, the balance of the note receivable was $393,995.In November 2023, SWIFT issued a promissory note to Eagle Pharmacy, LLC for $200,000 with a 5.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through the intermediary relending program offered by the USDA. As of December 31, 2023, the balance of the note receivable was $199,542. Loans Issued Through USDA Meat & Poultry Intermediary Lending Program In June 2023, SWIFT issued a promissory note to The Butcher Block Custom Meat Processing, LLC for $550,000 with a 4.5% annual interest rate. SWIFT serves as the intermediary and lent the funds through the Meat and Poultry Intermediary Relending program (MPILP) offered by the USDA. As of December 31, 2023, the balance of the note receivable was $537,251.In August 2023, SWIFT issued a promissory note to Scissortail Meat Co. LLC for $4,450,000 with a 4.5% annual interest rate. SWIFT serves as the intermediary and lent the funds through the Meat and Poultry Intermediary Relending program (MPILP) offered by the USDA. As of December 31, 2023, the balance of the note receivable was $4,418,377.In August 2023, SWIFT issued a promissory note to Whiskey Creek Cattle, LLC for $2,200,000 with a 4.5% annual interest rate. SWIFT serves as the intermediary and lent the funds through the Meat and Poultry Intermediary Relending program (MPILP) offered by the USDA. As of December 31, 2023, the balance of the note receivable was $2,176,481.In September 2023, SWIFT issued a promissory note to Market 54 for $500,000 with a 4.5% annual interest rate. SWIFT serves as the intermediary and lent the funds through the Meat and Poultry Intermediary Relending program (MPILP) offered by the USDA. As of December 31, 2023, the balance of the note receivable was $486,534.In September 2023, SWIFT issued a promissory note to 5T Chophouse, LLC for $300,000 with a 4.5% annual interest rate. SWIFT serves as the intermediary and lent the funds through the Meat and Poultry Intermediary Relending program (MPILP) offered by the USDA. As of December 31, 2023, the balance of the note receivable was $293,835.In September 2023, SWIFT issued a promissory note to Scissortail Meat Co. LLC for $300,000 with a 4.5% annual interest rate. SWIFT serves as the intermediary and lent the funds through the Meat and Poultry Intermediary Relending program (MPILP) offered by the USDA. As of December 31, 2023, the balance of the note receivable was $297,346.In October 2023, SWIFT issued a promissory note to 5T Chophouse, LLC for $400,000 with a 4.5% annual interest rate. SWIFT serves as the intermediary and lent the funds through the Meat and Poultry Intermediary Relending program (MPILP) offered by the USDA. As of December 31, 2023, the balance of the note receivable was $398,024. Loans Issued with EDA Grant Proceeds None issued in 2023. Loans Issued with USDA Grant Proceeds None issued in 2023. Loans Receivable Issued with SWIFT Funds In February 2023, SWIFT issued a promissory note to Mother Road RV, Boat & Trailer Storage, LLC for $150,000 with a 4.0% annual interest rate. As of December 31, 2023, the balance of the note receivable was $143,477.In May 2023, SWIFT issued a promissory note to The Roost Lake Store, LLC for $90,000 with a 4.5% annual interest rate. As of December 31, 2023, the balance of the note receivable was $83,570.In July 2023, SWIFT issued a promissory note to Weatherford Regional Hospital for $701,371 with a 4% annual interest rate. As of December 31, 2023, the balance of the note receivable was $664,582. SOUTHWESTERN OKLAHOMA STATE UNIVERSITY 100 CAMPUS DR WEATHERFORD OK 73096 736017987 UNIVERSITY OK GOVT NA false false false false false false false false false false false false false false false false false false false false