Zions First National Bank was ranked as Utah's largest provider of U.S. Small Business Administration government-guaranteed loans in terms of dollar volume and loan volume for the first six months of fiscal year 2000.
Figures from the SBA show that for the six months that ended March 31, Zions Bank approved 124 SBA-backed loans totaling $12.6 million.Zions Bancorp, the bank's parent company, is ranked 12th among 4,000 holding companies in the nation for providing SBA loans, granting 475 loans totaling $96 million last year.
The 124 loans approved by Zions represent 31 percent of the SBA-backed loan volume in Utah during this six-month period, said Scott Anderson, president and chief executive officer, and 34 percent of the loans were approved for minority entrepreneurs (as defined by the SBA).
"For seven of the past eight years, Zions Bank has ranked as Utah's top SBA lender," said Anderson. "This continued top ranking is a reflection of our commitment to meeting the financing needs of Utah's small business owners."
The next leading SBA lenders for the period, ranked by dollar volume, were Community First National Bank, $5.8 million (21 loans); American Investment Financial, $5.7 million (14 loans); Northern Utah Capital, $4.5 million (18 loans); and First Security Bank of Utah, $3.3 million (20 loans).
Overall, Utah banks approved 397 SBA-backed loans totaling $83.8 million.