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County1st of 29 in Utah by approvalsFIPS 49035
SBA loans in Salt Lake County, Utah
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
SBA approved 2,309 loans to businesses in Salt Lake County, Utah, in FY2021 to FY2025, worth $1.53bn: 1,870 under 7(a) and 439 under 504.
That is 64.6 approvals per 1,000 business establishments (35,732 establishments in 2023), close to the Utah figure of 67.5 and above the national 41.0.
It ranks 1st of 29 Utah counties with approvals. In FY2025 there were 569, up 9% on FY2024.
121 lenders had approvals here; the most active were Mountain West Small Business Finance (337), Mountain America FCU (268) and Zions Bank, A Division of (206). The most common industry was restaurants and other eating places.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Data through 30 Jun 2026.
Lenders most active in Salt Lake County
By number of approvals to businesses in the county, FY2021–FY2025; 121 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Mountain West Small Business FinanceSalt Lake City, UT · CDC | 337 | $351M | 14.6% | |
| 2 | Mountain America FCUSandy, UT | 268 | $124M | 11.6% | |
| 3 | Zions Bank, A Division ofSalt Lake City, UT | 206 | $46.3M | 8.9% | |
| 4 | U.S. Bank, National AssociationCincinnati, OH | 131 | $35.0M | 5.7% | |
| 5 | America First Federal Credit UnionRiverdale, UT | 102 | $93.4M | 4.4% | |
| 6 | Central BankProvo, UT | 96 | $37.6M | 4.2% | |
| 7 | Intermountain Business Lending, Inc.Ogden, UT · CDC | 80 | $77.7M | 3.5% | |
| 8 | KeyBank National AssociationCleveland, OH | 74 | $39.2M | 3.2% | |
| 9 | The Huntington National BankColumbus, OH | 74 | $32.1M | 3.2% | |
| 10 | Wells Fargo Bank National AssociationSioux Falls, SD | 63 | $23.1M | 2.7% | |
| 11 | Celtic Bank CorporationSalt Lake City, UT | 62 | $35.5M | 2.7% | |
| 12 | First Utah BankSalt Lake City, UT | 55 | $66.9M | 2.4% | |
| 13 | Canyon View Federal Credit UnionSalt Lake City, UT | 47 | $9.6M | 2.0% | |
| 14 | Community Banks of Colorado, A Division of NBH BankGreenwood Village, CO | 45 | $43.4M | 1.9% | |
| 15 | BayFirst National BankSaint Petersburg, FL | 42 | $5.7M | 1.8% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 171 | 7.4% | |
| 2 | Offices of Other Health PractitionersNAICS 6213 | 93 | 4.0% | |
| 3 | Personal Care ServicesNAICS 8121 | 81 | 3.5% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 71 | 3.1% | |
| 5 | Building Finishing ContractorsNAICS 2383 | 66 | 2.9% | |
| 6 | Services to Buildings and DwellingsNAICS 5617 | 65 | 2.8% | |
| 7 | Other Specialty Trade ContractorsNAICS 2389 | 61 | 2.6% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 59 | 2.6% | |
| 9 | Offices of DentistsNAICS 6212 | 55 | 2.4% | |
| 10 | Other Amusement and Recreation IndustriesNAICS 7139 | 55 | 2.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 327 | 14.2% | |
| 2 | Health Care and Social Assistance | 298 | 12.9% | |
| 3 | Retail Trade | 251 | 10.9% | |
| 4 | Professional, Scientific, and Technical Services | 248 | 10.7% | |
| 5 | Other Services (except Public Administration) | 229 | 9.9% | |
| 6 | Accommodation and Food Services | 224 | 9.7% | |
| 7 | Manufacturing | 174 | 7.5% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 115 | 5.0% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 286 | $159M | $210K | 52 | $72.8M | 338 | 3,890 |
| FY2025 | 489 | $264M | $175K | 80 | $98.4M | 569 | 6,789 |
| FY2024 | 467 | $236M | $165K | 55 | $63.3M | 522 | 7,686 |
| FY2023 | 325 | $163M | $200K | 67 | $76.2M | 392 | 5,169 |
| FY2022 | 258 | $161M | $249K | 110 | $107M | 368 | 4,899 |
| FY2021 | 331 | $251M | $309K | 127 | $110M | 458 | 6,409 |
| FY2020 | 258 | $149M | $279K | 98 | $76.7M | 356 | 5,001 |
| FY2019 | 297 | $137M | $195K | 98 | $76.4M | 395 | 4,209 |
| FY2018 | 391 | $162M | $150K | 85 | $75.4M | 476 | 6,143 |
| FY2017 | 394 | $167M | $150K | 76 | $56.0M | 470 | 5,348 |
| FY2016 | 395 | $183M | $150K | 67 | $46.6M | 462 | 5,839 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 2,159 approvals.
Against Utah and the country
| FY2021–FY2025 | Salt Lake County | Utah | United States |
|---|---|---|---|
| Approvals | 2,309 | 6,449 | 342,825 |
| Approvals per 1,000 establishments | 64.6 | 67.5 | 41.0 |
| Median 7(a) approval | $216K | $200K | $190K |
| Median 504 approval | $712K | $689K | $657K |
| Average approval | $663K | $628K | $573K |
| 504 share of approvals | 19.0% | 21.6% | 11.0% |
| Jobs supported per approval, as reported | 13.4 | 11.9 | 10.5 |
| Share of state approvals | 35.8% | 100.0% | — |
Approval sizes
- $50,000 or less19.3%445
- $50,001 to $150,00017.9%413
- $150,001 to $350,00018.4%426
- $350,001 to $1 million25.4%586
- $1 million to $2 million10.3%238
- Over $2 million8.7%201
Age of the businesses
- Existing, more than 2 years old61.9%1,430
- New business, 2 years or less16.5%382
- Startup, loan funds will open the business15.2%350
- Change of ownership6.4%147
Questions and answers
Which lenders make the most SBA loans in Salt Lake County?
By approvals in FY2021 to FY2025: Mountain West Small Business Finance (337), Mountain America FCU (268), Zions Bank, A Division of (206), U.S. Bank, National Association (131), America First Federal Credit Union (102). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Salt Lake County?
The median 7(a) approval was $216K and the median 504 approval $712K; the Utah 7(a) median was $200K.
Which industries get the most SBA loans in Salt Lake County?
Restaurants and Other Eating Places (171); Offices of Other Health Practitioners (93); Personal Care Services (81); Automotive Repair and Maintenance (71); Building Finishing Contractors (66).
Is SBA lending in Salt Lake County rising?
Approvals in the three latest complete fiscal years total 1,483, against 1,182 in the three before: rising (+25%).
How does Salt Lake County compare with the rest of Utah?
64.6 approvals per 1,000 establishments against 67.5 statewide, and 2,309 of the state's 6,449 approvals.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error