Zions Bank was the top provider of U.S. Small Business Administration (SBA) 7(a) loans in the Utah District in 2017, marking 24 consecutive years as the district’s top lender.
The capital provided through Zions Bank’s loans to Utah businesses allowed them to grow so that they could hire 544 new employees and maintain 1,016 positions in 2017, according to SBA data.
Zions Bank approved 187 SBA 7(a) loans in the Utah District, totaling more than $30.7 million and representing 17 percent of the 1,074 SBA-backed loans approved during fiscal year ended Sept. 30, 2017.
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 a vibrant place 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.”