PR Newswire · Press release
ZIONS BANK HELPS ENTREPRENEURS LEAD NATION IN SMALL BUSINESS GROWTH AS TOP SBA 7(A) LENDER IN UTAH IN 2026
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SALT LAKE CITY, Nov. 9, 2026 /PRNewswire/ -- Despite the headwinds of inflation, tariffs and labor shortages, entrepreneurs in Utah are leading the nation in small business growth with support from Zions Bank.
According to WalletHub, Utah was ranked number two for small business growth in 2026, supported by access to U.S. Small Business Administration (SBA) loans that help entrepreneurs start and scale their enterprises.
According to data from the SBA, Zions Bank ranked No. 1 in SBA 7(a) loan approvals in the Utah District for the fiscal year ended Sept. 30, 2026. The bank approved 226 loans totaling more than $48 million in Utah, underscoring its commitment to fueling small business growth across the Intermountain West.
Zions Bank also ranked first in Utah for total loan volume by dollar amount.
"Small businesses are the economic growth engine of our local communities," said Zions Bank President and CEO Nate Callister. "Almost half of all small businesses we support are entrepreneurs starting a business, and we're proud of the role we play in helping bring their ideas to fruition."
For the 30th time in 33 years, Zions Bank led the Utah District in SBA 7(a) lending with an average loan size of $213,072, demonstrating the bank's support for mom-and-pop shops, solo entrepreneurs and early-stage ventures critical to both states' economies.
In 2026, Zions Bank-supported businesses created 646 new jobs and retained 1,249 positions in Utah, according to SBA data. The bank's approved loans accounted for 21% of 7(a) loans in Utah this fiscal year.
Zions Bank continues to champion inclusive entrepreneurship, with 39% of SBA 7(a) loans in Utah awarded to businesses owned by women, veterans and people of color.
About the SBA 7(a) Loan Program
The 7(a) loan program is the SBA's primary program for providing financial assistance to small businesses and offers guarantees on loans of up to $5 million on reasonable terms and conditions. These loans are commonly used for acquiring land, purchasing equipment or working capital. Credit approval and SBA approval required; terms and conditions apply.
About Zions Bank
Zions Bank is Utah's oldest financial institution and is the only local bank with a statewide distribution of branches operating 93 full-service branches. Zions Bank also operates 25 branches in Idaho and Wyoming. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending. Founded in 1873, Zions Bank has been serving the communities of Utah for more than 150 years. Additional information is available at zionsbank.com. Zions Bank is a division of Zions Bancorporation N.A., Member FDIC, Equal Housing Lender.
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SOURCE Zions Bancorporation
