SBA loans in Utah, FY2023

That fiscal year's approvals by lender and by county.

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.

In FY2023 (1 October 2022 to 30 September 2023) SBA approved 1,131 loans in Utah: 902 under 7(a) and 229 under 504, worth $678M.

That is about level with FY2022, when there were 1,132 approvals worth $798M.

Utah accounted for 1.8% of the 63,286 approvals nationwide that year. 87 lenders had at least one approval in the state; Mountain West Small Business Finance had the most, 149.

1,131approvalsFY2022: 1,132

$678Mdollars approvedFY2022: $798M

$200Kmedian 7(a) approvalFY2022: $234K

87lenders with an approval

13,594jobs supported, as reported

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.

Approvals by lender

The 40 lenders with the most approvals to Utah businesses in FY2023, of 87 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2022	Change
1	Mountain West Small Business Finance	504	149	$149M	13.2%	275	-126
2	Mountain America FCU	7(a)	139	$41.2M	12.3%	101	+38
3	Zions Bank, A Division of	7(a)	95	$24.8M	8.4%	61	+34
4	Central Bank	7(a)	75	$30.8M	6.6%	88	-13
5	Intermountain Business Lending, Inc.	504	62	$73.7M	5.5%	75	-13
6	The Huntington National Bank	7(a)	48	$15.3M	4.2%	19	+29
7	Cache Valley Bank	7(a)	44	$7.7M	3.9%	45	-1
8	U.S. Bank, National Association	7(a)	39	$7.1M	3.4%	42	-3
9	Community Banks of Colorado, A Division of NBH Bank	7(a)	38	$22.3M	3.4%	34	+4
10	America First Federal Credit Union	7(a)	33	$32.7M	2.9%	56	-23
11	Wells Fargo Bank National Association	7(a)	31	$6.0M	2.7%	26	+5
12	Celtic Bank Corporation	7(a)	28	$15.7M	2.5%	25	+3
13	BayFirst National Bank	7(a)	26	$4.1M	2.3%	8	+18
14	State Bank of Southern Utah	7(a)	23	$3.6M	2.0%	28	-5
15	KeyBank National Association	7(a)	21	$10.6M	1.9%	20	+1
16	Readycap Lending, LLC	7(a)	20	$5.7M	1.8%	12	+8
17	Live Oak Banking Company	7(a)	16	$24.1M	1.4%	9	+7
18	Capital Community Bank	7(a)	14	$14.7M	1.2%	12	+2
19	JPMorgan Chase Bank, National Association	7(a)	12	$5.0M	1.1%	7	+5
20	First Internet Bank of Indiana	7(a)	11	$19.5M	1.0%	1	+10
21	United Midwest Savings Bank National Association	7(a)	11	$1.6M	1.0%	6	+5
22	Northwest Bank	7(a)	9	$7.7M	0.8%	2	+7
23	First Bank of the Lake	7(a)	9	$3.9M	0.8%	0	new
24	Cyprus Federal Credit Union	7(a)	9	$511K	0.8%	10	-1
25	BMO Bank National Association	7(a)	8	$9.4M	0.7%	5	+3
26	Newtek Small Business Finance, Inc.	7(a)	8	$7.1M	0.7%	9	-1
27	UMB Bank, National Association	7(a)	8	$3.9M	0.7%	4	+4
28	B:Side Capital	504	7	$9.7M	0.6%	14	-7
29	Byline Bank	7(a)	7	$9.3M	0.6%	8	-1
30	First Utah Bank	7(a)	7	$9.2M	0.6%	8	-1
31	Citizens Bank	7(a)	6	$2.4M	0.5%	7	-1
32	Canyon View Federal Credit Union	7(a)	6	$1.0M	0.5%	4	+2
33	Northeast Bank	7(a)	5	$289K	0.4%	0	new
34	Evolve Bank and Trust	7(a)	4	$7.0M	0.4%	1	+3
35	T Bank, National Association	7(a)	4	$5.7M	0.4%	6	-2
36	Fortis Bank	7(a)	4	$5.6M	0.4%	0	new
37	Bank Five Nine	7(a)	4	$2.9M	0.4%	0	new
38	Glacier Bank	7(a)	4	$1.3M	0.4%	6	-2
39	Montana Community Development Corp.	7(a)	4	$673K	0.4%	0	new
40	Newtek Bank, National Association	7(a)	4	$459K	0.4%	0	new

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2022	Change
1	Salt Lake County	392	$239M	34.7%	368	+24
2	Utah County	236	$136M	20.9%	273	-37
3	Davis County	101	$50.8M	8.9%	94	+7
4	Washington County	88	$68.0M	7.8%	100	-12
5	Weber County	63	$40.3M	5.6%	55	+8
6	Cache County	50	$29.5M	4.4%	65	-15
7	Iron County	31	$13.2M	2.7%	28	+3
8	Tooele County	27	$12.4M	2.4%	20	+7
9	Box Elder County	22	$7.3M	1.9%	11	+11
10	Summit County	20	$9.3M	1.8%	12	+8
11	Wasatch County	19	$8.7M	1.7%	9	+10
12	Uintah County	17	$10.1M	1.5%	22	-5
13	Carbon County	11	$9.4M	1.0%	6	+5
14	Duchesne County	9	$4.7M	0.8%	10	-1
15	Grand County	7	$7.6M	0.6%	8	-1
16	Sevier County	6	$3.5M	0.5%	9	-3
17	Sanpete County	6	$1.2M	0.5%	7	-1
18	Kane County	5	$3.3M	0.4%	9	-4
19	Millard County	5	$1.1M	0.4%	4	+1
20	Juab County	4	$8.7M	0.4%	2	+2
21	Rich County	4	$5.3M	0.4%	3	+1
22	Garfield County	3	$772K	0.3%	5	-2
23	Emery County	2	—	0.2%	0	new
24	San Juan County	2	—	0.2%	4	-2
25	Piute County	1	—	0.1%	0	new

FY2023 against FY2022

Utah	FY2023	FY2022
7(a) approvals	902	762
7(a) dollars	$438M	$427M
Median 7(a) approval	$200K	$234K
504 approvals	229	370
504 dollars	$239M	$371M
Jobs supported, as reported	13,594	14,446

Questions and answers

Which lenders made the most SBA loans in Utah in FY2023?

Mountain West Small Business Finance (149), Mountain America FCU (139), Zions Bank, A Division of (95), Central Bank (75), Intermountain Business Lending, Inc. (62). 87 lenders had at least one approval.

How many SBA loans were approved in Utah in FY2023?

1,131: 902 under 7(a) worth $438M and 229 under 504 worth $239M.

Which Utah counties had the most SBA approvals in FY2023?

Salt Lake County (392), Utah County (236), Davis County (101), Washington County (88), Weber County (63).

When does FY2023 start and end?

The federal fiscal year 2023 runs from 1 October 2022 to 30 September 2023.

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