Lenders › Central Bank
7(a) lenderProvo, UtahFDIC-insured bank98th of 2,184 by approvals
Central Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
Central Bank, based in Provo, Utah, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 386 of its 7(a) loans worth $156M in FY2021 to FY2025, which places it 98th of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 70 approvals totalling $26.9M, about level with FY2024 (69). FY2026 to 30 Jun 2026 adds 51 more.
The median approval was $238K, against $190K for the 7(a) program as a whole; 38.3% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 2 states and territories and 17 counties, led by Utah (99.7%) and Arizona (0.3%). The largest industry group was construction at 13.7% of approvals, and 6.5% of approvals were to franchise businesses.
Of 453 disbursed loans approved in FY2010 to FY2021, SBA records 14 as charged off (3.1%), 364 as paid in full and 75 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 51 | $19.4M | $250K | $380K | 614 |
| FY2025 | 70 | $26.9M | $250K | $384K | 564 |
| FY2024 | 69 | $35.6M | $292K | $516K | 938 |
| FY2023 | 75 | $30.8M | $235K | $411K | 833 |
| FY2022 | 88 | $29.6M | $183K | $336K | 1,398 |
| FY2021 | 84 | $32.9M | $211K | $391K | 1,111 |
| FY2020 | 72 | $14.0M | $139K | $195K | 850 |
| FY2019 | 42 | $14.8M | $142K | $353K | 399 |
| FY2018 | 35 | $11.4M | $100K | $325K | 272 |
| FY2017 | 41 | $13.5M | $150K | $329K | 281 |
| FY2016 | 25 | $2.3M | $61K | $91K | 306 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 215 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Utah | 7(a) program |
|---|---|---|---|
| Approvals in these years | 503 | 12,601 | 639,905 |
| Cancelled or never disbursed | 50 | 1,336 | 79,313 |
| Disbursed loans | 453 | 11,265 | 560,592 |
| Paid in full | 364 | 9,360 | 435,813 |
| Charged off | 14 | 583 | 36,891 |
| Still outstanding (status exempt from disclosure) | 75 | 1,322 | 87,888 |
| Charged off, share of disbursed loans | 3.1% | 5.2% | 6.6% |
| Dollars charged off, share of disbursed dollars | 0.6% | 2.1% | 2.5% |
| Dollars charged off | $673K | $83.3M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 80 | 33 | 2 | 2.5% | 2.8% |
| FY2020 | 69 | 53 | 0 | 0.0% | 4.0% |
| FY2019 | 40 | 36 | 0 | 0.0% | 6.7% |
| FY2018 | 34 | 29 | 2 | 5.9% | 7.9% |
| FY2017 | 41 | 37 | 1 | 2.4% | 7.7% |
| FY2016 | 22 | 20 | 2 | — | 7.2% |
| FY2015 | 44 | 41 | 1 | 2.3% | 6.9% |
| FY2014 | 28 | 26 | 1 | — | 6.4% |
| FY2013 | 29 | 24 | 4 | — | 6.0% |
| FY2012 | 18 | 17 | 1 | — | 6.3% |
| FY2011 | 26 | 26 | 0 | — | 6.9% |
| FY2010 | 22 | 22 | 0 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $238K | $190K |
| Average approval | $404K | $518K |
| Approvals of $150,000 or less | 38.3% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 41.7% | 34.3% |
| Approvals to franchise businesses | 6.5% | 11.5% |
| Jobs supported per approval, as reported | 12.5 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 3.1% | 6.6% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Utah | 385 | $156M | 99.7% | |
| 2 | Arizona | 1 | — | 0.3% |
In Utah the lender accounts for 7.6% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (17 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Utah County, UT | 263 | $106M | 68.1% | |
| 2 | Salt Lake County, UT | 96 | $37.6M | 24.9% | |
| 3 | Davis County, UT | 7 | $1.7M | 1.8% | |
| 4 | Cache County, UT | 3 | $2.8M | 0.8% | |
| 5 | Summit County, UT | 2 | — | 0.5% | |
| 6 | Weber County, UT | 2 | — | 0.5% | |
| 7 | Sanpete County, UT | 2 | — | 0.5% | |
| 8 | Tooele County, UT | 2 | — | 0.5% | |
| 9 | Kane County, UT | 1 | — | 0.3% | |
| 10 | Morgan County, UT | 1 | — | 0.3% | |
| 11 | Washington County, UT | 1 | — | 0.3% | |
| 12 | Millard County, UT | 1 | — | 0.3% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Construction | 53 | 13.7% | |
| 2 | Retail Trade | 47 | 12.2% | |
| 3 | Manufacturing | 45 | 11.7% | |
| 4 | Accommodation and Food Services | 38 | 9.8% | |
| 5 | Health Care and Social Assistance | 34 | 8.8% | |
| 6 | Other Services (except Public Administration) | 33 | 8.5% | |
| 7 | Administrative and Support and Waste Management and Remediation Services | 27 | 7.0% | |
| 8 | Professional, Scientific, and Technical Services | 23 | 6.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 30 | 7.8% | |
| 2 | Services to Buildings and DwellingsNAICS 5617 | 20 | 5.2% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 17 | 4.4% | |
| 4 | Personal Care ServicesNAICS 8121 | 15 | 3.9% | |
| 5 | Other Amusement and Recreation IndustriesNAICS 7139 | 14 | 3.6% | |
| 6 | Building Equipment ContractorsNAICS 2382 | 13 | 3.4% | |
| 7 | Household and Institutional Furniture and Kitchen Cabinet ManufacturingNAICS 3371 | 10 | 2.6% | |
| 8 | Building Finishing ContractorsNAICS 2383 | 10 | 2.6% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 10 | 2.6% | |
| 10 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 9 | 2.3% |
Approval sizes
- $50,000 or less5.7%22
- $50,001 to $150,00032.6%126
- $150,001 to $350,00030.1%116
- $350,001 to $1 million24.4%94
- $1 million to $2 million4.1%16
- Over $2 million3.1%12
Loan terms
- 5 years or less7.0%27
- Over 5 to 10 years76.2%294
- Over 10 to 20 years6.0%23
- Over 20 years10.9%42
Age of the businesses
- Existing, more than 2 years old49.0%189
- New business, 2 years or less30.3%117
- Startup, loan funds will open the business11.4%44
- Change of ownership9.3%36
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 249 | 64.5% | |
| 2 | SBA Express Program | 134 | 34.7% | |
| 3 | Working Capital CAPLine | 3 | 0.8% |
Franchise share
25 of 386 approvals in FY2021–FY2025 (6.5%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Uncle Sharkii Poke Bar | 2 | 0.5% | |
| 2 | Painter1 | 2 | 0.5% | |
| 3 | Hotworx | 2 | 0.5% | |
| 4 | Hokulia Shave Ice | 2 | 0.5% | |
| 5 | Jackson Food Stores, Inc. | 1 | 0.3% | |
| 6 | SealMaster | 1 | 0.3% | |
| 7 | Black Rifle Coffee Company | 1 | 0.3% | |
| 8 | Burn Boot Camp Fitness | 1 | 0.3% |
Questions and answers
How many SBA loans does Central Bank make?
SBA approved 70 7(a) loans through Central Bank in FY2025, worth $26.9M, and 386 over FY2021 to FY2025. That ranks 98th of 2,184 active 7(a) lenders by number of approvals.
How large are Central Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $238K and the average $404K. The program-wide median was $190K.
What is Central Bank's charge-off rate?
Of 453 disbursed loans approved in FY2010 to FY2021, SBA records 14 as charged off (3.1%), 364 as paid in full and 75 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Central Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (30); services to buildings and dwellings (20); offices of other health practitioners (17); personal care services (15).
Where does Central Bank make SBA loans?
In 2 states and territories. Utah 385, Arizona 1. In Utah it accounts for 7.6% of all 7(a) approvals.
Is Central Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 214, against 244 in the three before: falling (-12%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error