State lending data
SBA lending in Utah
3,703 SBA 7(a) loans went to businesses in Utah recently, at a median of $171,900. The lenders that made them, what they charged, and how the state is trending.
3,703 SBA 7(a) loans went to businesses in Utah in the most recent fiscal years, at a median of $171,900. The most active lender in the state was Zions Bank, with 654 loans. Approvals are down 15.4% on the year.
SBA lending in Utah, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in Utah, not advertised ranges.
| Measure | Utah | National |
|---|---|---|
| Loans approved | 3,703 | 214,102 |
| Total approved | $1.8 billion | $104.1 billion |
| Median loan | $171,900 | $150,000 |
| 25th – 75th percentile | $56,000 – $500,000 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.00% | 10.25% |
| Share to startups | 37.3% | 33.6% |
| Charge-off rate, FY2010–19 | 5.5% | 7.1% |
| Jobs supported | 42,302 | 2,142,602 |
| Counties with recorded lending | 28 | — |
| Lenders active in the state | 142 | — |
Is SBA lending in Utah growing or shrinking?
Fewer, larger loans. The number of approvals fell while the total dollars approved rose, so what shrank in Utah is small-loan lending. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in Utah went from 712 to 602 loans, down 15.4% — while the dollars approved went from $284.1 million to $304.0 million, up 7.0%. The average approval rose from $399,071 to $504,957, so the change is weighted toward larger loans.
That puts Utah mid-table — 14th of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in Utah | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 822 | 51,747 | 1.6% |
| FY2024 | 1,028 | 62,618 | 1.6% |
| FY2025 | 1,161 | 64,096 | 1.8% |
| FY2026 (part year) | 692 | 35,641 | 1.9% |
Which lenders actually fund businesses in Utah
Ranked by loans approved inside Utah. The median, startup share and rate columns describe each lender's own Utah loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Zions Bank | 654 | $100,000 | 37% | 10.00% |
| Mountain America FCU | 476 | $50,000 | 32% | 10.50% |
| Central Bank | 240 | $250,000 | 43% | 9.75% |
| U.S. Bank | 204 | $49,900 | 36% | 9.49% |
| The Huntington National Bank | 158 | $300,000 | 60% | 10.50% |
| Celtic Bank Corporation | 118 | $150,000 | 28% | 10.25% |
| Cache Valley Bank | 113 | $157,000 | 43% | 9.00% |
| America First Federal Credit Union | 112 | $594,250 | 46% | 8.00% |
| Wells Fargo Bank | 92 | $30,000 | 80% | 12.00% |
| Live Oak Banking Company | 87 | $930,000 | 28% | 9.50% |
| Community Banks of Colorado | 86 | $500,000 | 33% | 9.50% |
| BayFirst National Bank | 84 | $150,000 | 1% | 12.50% |
What stands out about Utah
Reading the state's own figures against the national picture:
- Loans here run larger than average. The median of $171,900 is 15% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- Startup share is close to average, at 37.3% against 33.6% nationally.
Who borrows in Utah
The industry mix of SBA borrowers here, led by construction.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Construction | 561 | 15.1% | $150,000 | 28% |
| Retail | 394 | 10.6% | $192,750 | 39% |
| Healthcare | 376 | 10.2% | $200,000 | 36% |
| Restaurants and Hotels | 366 | 9.9% | $300,000 | 53% |
| Personal Services | 366 | 9.9% | $163,600 | 48% |
| Professional Services | 347 | 9.4% | $150,000 | 25% |
| Manufacturing | 294 | 7.9% | $247,200 | 29% |
| Admin Services | 228 | 6.2% | $150,000 | 37% |
| Wholesale | 172 | 4.6% | $175,250 | 33% |
| Arts and Recreation | 150 | 4.1% | $250,000 | 73% |
| Trucking | 148 | 4.0% | $147,250 | 34% |
| Real Estate | 102 | 2.8% | $150,000 | 31% |
Where the money goes in Utah
SBA lending is more concentrated than state totals suggest, and Salt Lake County alone accounts for 37% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Salt Lake County | 1,388 | $200,000 | $746.0 million |
| Utah County | 776 | $207,250 | $377.2 million |
| Davis County | 333 | $151,000 | $136.3 million |
| Washington County | 306 | $150,000 | $125.3 million |
| Weber County | 222 | $200,000 | $102.7 million |
| Cache County | 129 | $150,000 | $44.0 million |
| Iron County | 75 | $150,000 | $31.9 million |
| Summit County | 74 | $150,000 | $33.2 million |
| Tooele County | 71 | $150,000 | $30.3 million |
| Box Elder County | 55 | $75,000 | $11.5 million |
| Uintah County | 46 | $177,500 | $20.1 million |
| Wasatch County | 45 | $156,000 | $20.1 million |
SBA 504 in Utah
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | Utah 504 | National 504 |
|---|---|---|
| Projects approved | 818 | 22,192 |
| Median CDC share | $756,000 | $730,000 |
| Median total project | $1,697,607 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in Utah
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in Utah is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: Virginia, Wisconsin, Maryland, Oregon, Indiana, Missouri, California, Florida
Questions people actually ask
How many SBA loans are approved in Utah each year?
3,703 SBA 7(a) loans were approved to businesses in Utah across fiscal years 2023 to 2026, using data released June 2026, worth $1.8 billion in total. Over the most recent comparable months the number of approvals ran down 15.4% year on year, while the dollars approved ran up 7.0%.
Which bank approves the most SBA loans in Utah?
Zions Bank, with 654 loans approved to businesses in the state and a median loan of $100,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in Utah?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.