Zions Bank Press Release: 2017 SBA Top Lender
Zions Bank ranked as the top provider of U.S. Small Business Administration (SBA) 7(a) loans in the Utah and Boise Districts in 2017.
SALT LAKE CITY; October 26, 2017 — Zions Bank ranked as the top provider of U.S. Small Business Administration (SBA) 7(a) loans in the Utah and Boise Districts in 2017. The top lender status has been held by Zions Bank in the SBA’s Utah District for the past 24 consecutive years and in its Boise District for the past 16 consecutive years.
Zions Bank approved 301 SBA 7(a) loans in Utah and Idaho, totaling more than $46.1 million. The capital provided through Zions Bank’s loans to Utah and Idaho businesses allowed them to grow so that they could hire 839 new employees and maintain 1,356 positions in 2017, according to SBA data.
Zions Bank approved 17 percent of the SBA-backed loans in Utah and 19 percent of the 7(a) loans approved in the Boise District. Its average loan size is approximately $160,000, a strong indicator of the bank’s support for small businesses in Utah and Idaho.
Zions Bank continues to be a leader in marketing SBA loans to women- and minority-owned businesses, which accounted for 37 percent of the loans approved by Zions Bank in Utah during fiscal year 2017.
“Small businesses are the lifeblood of our economy. They create jobs and fuel growth that makes Utah and Idaho such vibrant places to live and work,” said Zions Bank President and CEO Scott Anderson. “We are proud to be ranked as Utah’s top SBA lender because we are committed to providing capital to entrepreneurs to help bring their innovations to fruition.”
About the SBA 7(a) Loan Program
The SBA’s 7(a) Loan Program offers up to 25-year, fully amortized loans that may be used for most business purposes, including the purchase of real estate for business operations, acquisition of equipment, and working capital. Credit approval required; terms and conditions apply.
About Zions Bank
Zions Bank, a division of ZB, N.A., Member FDIC, operates 123 full-service financial centers throughout Idaho, Utah and Wyoming. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending and has consistently ranked as the No. 1 lender of U.S. Small Business Administration Advantage Loans in Utah for the past 24 years and in Idaho’s Boise District for the past 16 years. Founded in 1873, Zions Bank has been serving the communities of the Intermountain West for more than 140 years. ZB, N.A.’s parent company is Zions Bancorporation, which is included in the S&P 500 and NASDAQ Financial 100 indices (NASDAQ: ZION). Additional information is available at www.zionsbank.com.