SALT LAKE CITY, Nov. 9, 2016 /PRNewswire/ -- Veterans are among
hundreds of entrepreneurs in Utah
and Idaho who are discovering
perks associated with the U.S. Small Business Administration (SBA)
Advantage Loan Program, which was previously known as 7(a). The SBA
announced the name change Nov. 1,
2016, to better reflect the loan's purpose for
borrowers.
Zions Bank approved the largest number of Advantage Loans in the
SBA's Utah District and in its
Boise District, representing 20
percent of the total loans in each market approved during the
fiscal year ended Sept. 30, 2016. In
Utah, Zions approved 227 loans
totaling more than $54.9 million. In
the SBA's Boise District, Zions
Bank approved 85 loans totaling $22.6
million. Additionally, Zions Bank approved 16 SBA
Advantage Loans totaling more than $4.7
million in North Idaho in
the SBA's Seattle/Spokane District.
Zions Bank has ranked as the top provider of small business
loans in Utah for the past 23
consecutive years and in Idaho for
the past 15 consecutive years.
Retired Air Force Lt. Col. Robert
Stevenson created two new jobs when he launched Bridgerland
Audiology and Hearing in Logan,
Utah, this year. Stevenson served his country for 22 years,
but experienced hearing loss as a KC-135 pilot. As he
researched his own condition, he became interested in studying
hearing and later became a certified audiologist. In April, he
launched Bridgerland Audiology to serve hearing-impaired patients
with the help of an SBA loan through Zions.
"The SBA loan offered me the best interest rate, and I wanted to
capitalize on the positive veteran loan opportunity so I decided to
pursue it," said Stevenson. "The people at Zions Bank are really
good to work with."
"We honor veterans like Lt. Col. Stevenson, who take the skills
they learned through their military service and apply them to their
new business enterprises, and in doing so, help grow the local
economy," said Zions Bank President and CEO Scott Anderson. "Zions Bank is proud that
the SBA loans we made in 2016 are helping businesses like
Bridgerland Audiology create jobs that provide a foundation for
economic growth in our communities."
About the SBA Advantage Loan Program
The SBA's Advantage 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.
About Zions Bank
Zions Bank, a division of ZB, N.A., 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 23 years and Idaho's
Boise District for the past 15
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 Bancorporation