Last update:
We are on a mission to help small businesses succeed by connecting them to our Utah SBA lending partners that provide financing under the Small Business Administration program. Banks based in the ‘Beehive State’ are generally among the largest providers of SBA loans in Utah.
SBA lenders in Utah can provide financing under the 7(a) loan program, the main and most popular SBA program, in addition to the SBA Express and 504 loans. These Utah SBA loans are available to you for a wide variety of business industries. This includes but isn’t limited to auto repair, hospitality, food and beverage, pharmacy, veterinary, and more.
These are the top SBA lenders in Utah that can help your business secure the financing it needs to succeed:
Most active SBA lenders in Utah
| UT Rank | Utah Bank | Bank HQs | # of Loans | Avg Interest | Avg UT Loan |
|---|---|---|---|---|---|
| 1 | Mountain America FCU | Sandy, UT | 73 | 7.4% | $428,382 |
| 2 | Central Bank | Provo, UT | 69 | 6.4% | $339,236 |
| 3 | U.S. Bank | Cincinnati, OH | 56 | 7.0% | $49,200 |
| 4 | Zions Bank | Salt Lake City, UT | 55 | 6.8% | $471,296 |
| 5 | Cache Valley Bank | Logan, UT | 38 | 5.8% | $280,763 |
| 6 | America First FCU | Riverdale, UT | 32 | 5.8% | $1,296,553 |
| 7 | Community Banks of Colorado | Greenwood Village, CO | 23 | 6.5% | $983,757 |
| 8 | State Bank of Southern Utah | Cedar City, UT | 21 | 5.7% | $197,771 |
| 9 | Celtic Bank | Salt Lake City, UT | 20 | 6.9% | $871,665 |
| 10 | Wells Fargo | Sioux Falls, SD | 18 | 7.7% | $337,233 |
SBA loans – Utah
People often share the following concerns with us regarding these Utah SBA lenders:
- Are these banks on the Utah preferred lender list?
- Are they approved for providing SBA loans in Utah?
- Do they participate in the Utah SBA Express lending program?
The answer to all three concerns is a resounding yes. These banks provide small business loans in Utah and are capable of processing SBA loan applications quickly. These are not small banks that don’t have much experience lending under the SBA 7(a) program and only approve a few SBA loans a year. They’ve actually disbursed the most SBA loans in the state.
Our Utah SBA lending partners are selected based on in-depth analysis of thousands of approved SBA loans per year. They’re ranked based on recent activity. It’s pertinent to note that while some banks may only lend to businesses in certain geographical areas, there are also aggressive nationwide SBA lenders that will lend to businesses anywhere in the country. They also provide SBA loans in Utah and in Salt Lake City are extremely skilled in processing and approving applications.
Therefore, we recommend that your search for an SBA loan should not be limited to a lender based in your home state only. You can use our powerful lender match tool at no cost or obligation to you in order to find the right SBA lender for your business.