SALT LAKE CITY, Oct. 31, 2017 /PRNewswire/ -- 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.
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SOURCE Zions Bank