SBA loans in Utah, FY2024

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 FY2024 (1 October 2023 to 30 September 2024) SBA approved 1,334 loans in Utah: 1,153 under 7(a) and 181 under 504, worth $723M.

That is up 18% on FY2023, when there were 1,131 approvals worth $678M.

Utah accounted for 1.7% of the 76,235 approvals nationwide that year. 75 lenders had at least one approval in the state; Zions Bank, A Division of had the most, 184.

1,334approvalsFY2023: 1,131

$723Mdollars approvedFY2023: $678M

$150Kmedian 7(a) approvalFY2023: $200K

75lenders with an approval

16,345jobs 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 FY2024, of 75 active.

#	Lender	Program	Approvals	Dollars	Share of state	FY2023	Change
1	Zions Bank, A Division of	7(a)	184	$44.5M	13.8%	95	+89
2	Mountain America FCU	7(a)	169	$64.0M	12.7%	139	+30
3	Mountain West Small Business Finance	504	133	$141M	10.0%	149	-16
4	Central Bank	7(a)	69	$35.6M	5.2%	75	-6
5	U.S. Bank, National Association	7(a)	65	$13.2M	4.9%	39	+26
6	The Huntington National Bank	7(a)	47	$15.5M	3.5%	48	-1
7	BayFirst National Bank	7(a)	39	$4.6M	2.9%	26	+13
8	Newtek Bank, National Association	7(a)	34	$18.6M	2.5%	4	+30
9	America First Federal Credit Union	7(a)	32	$27.0M	2.4%	33	-1
10	Wells Fargo Bank National Association	7(a)	32	$14.0M	2.4%	31	+1
11	Intermountain Business Lending, Inc.	504	31	$28.0M	2.3%	62	-31
12	Community Banks of Colorado, A Division of NBH Bank	7(a)	30	$40.1M	2.2%	38	-8
13	Cache Valley Bank	7(a)	30	$9.0M	2.2%	44	-14
14	KeyBank National Association	7(a)	28	$12.7M	2.1%	21	+7
15	Canyon View Federal Credit Union	7(a)	28	$5.6M	2.1%	6	+22
16	Readycap Lending, LLC	7(a)	27	$6.7M	2.0%	20	+7
17	Live Oak Banking Company	7(a)	25	$38.8M	1.9%	16	+9
18	First Utah Bank	7(a)	25	$26.8M	1.9%	7	+18
19	JPMorgan Chase Bank, National Association	7(a)	22	$5.9M	1.6%	12	+10
20	State Bank of Southern Utah	7(a)	21	$9.2M	1.6%	23	-2
21	Celtic Bank Corporation	7(a)	21	$8.8M	1.6%	28	-7
22	Northeast Bank	7(a)	20	$1.9M	1.5%	5	+15
23	Bank of Utah	7(a)	19	$13.8M	1.4%	1	+18
24	United Midwest Savings Bank National Association	7(a)	17	$6.0M	1.3%	11	+6
25	B:Side Capital	504	15	$9.4M	1.1%	7	+8
26	Northwest Bank	7(a)	13	$7.4M	1.0%	9	+4
27	Citizens Bank	7(a)	12	$6.0M	0.9%	6	+6
28	Cyprus Federal Credit Union	7(a)	10	$592K	0.7%	9	+1
29	Montana Community Development Corp.	7(a)	9	$1.3M	0.7%	4	+5
30	Byline Bank	7(a)	8	$8.4M	0.6%	7	+1
31	UMB Bank, National Association	7(a)	8	$3.8M	0.6%	8	0
32	Capital Community Bank	7(a)	7	$4.5M	0.5%	14	-7
33	Mountain West Small Business Finance	7(a)	7	$1.3M	0.5%	3	+4
34	Brighton Bank	7(a)	6	$2.6M	0.4%	3	+3
35	First Bank of the Lake	7(a)	6	$1.9M	0.4%	9	-3
36	Lendistry SBLC, LLC	7(a)	6	$1.1M	0.4%	0	new
37	Fortis Bank	7(a)	5	$5.7M	0.4%	4	+1
38	T Bank, National Association	7(a)	5	$2.4M	0.4%	4	+1
39	American United FCU	7(a)	5	$1.1M	0.4%	0	new
40	First Internet Bank of Indiana	7(a)	4	$4.0M	0.3%	11	-7

Approvals by county

#	County	Approvals	Dollars	Share of state	FY2023	Change
1	Salt Lake County	522	$300M	39.1%	392	+130
2	Utah County	278	$164M	20.8%	236	+42
3	Washington County	111	$45.4M	8.3%	88	+23
4	Davis County	108	$48.0M	8.1%	101	+7
5	Weber County	85	$42.6M	6.4%	63	+22
6	Cache County	51	$24.6M	3.8%	50	+1
7	Iron County	27	$20.2M	2.0%	31	-4
8	Summit County	23	$14.9M	1.7%	20	+3
9	Tooele County	20	$11.9M	1.5%	27	-7
10	Box Elder County	19	$9.7M	1.4%	22	-3
11	Uintah County	13	$5.9M	1.0%	17	-4
12	Wasatch County	10	$3.4M	0.7%	19	-9
13	Sevier County	9	$514K	0.7%	6	+3
14	Grand County	9	$4.5M	0.7%	7	+2
15	Duchesne County	8	$3.7M	0.6%	9	-1
16	San Juan County	8	$3.7M	0.6%	2	+6
17	Sanpete County	6	$3.4M	0.4%	6	0
18	Juab County	5	$2.8M	0.4%	4	+1
19	Carbon County	5	$2.8M	0.4%	11	-6
20	Morgan County	5	$6.6M	0.4%	0	new
21	Garfield County	4	$1.8M	0.3%	3	+1
22	Rich County	2	—	0.1%	4	-2
23	Kane County	2	—	0.1%	5	-3
24	Emery County	2	—	0.1%	2	0
25	Millard County	2	—	0.1%	5	-3

FY2024 against FY2023

Utah	FY2024	FY2023
7(a) approvals	1,153	902
7(a) dollars	$540M	$438M
Median 7(a) approval	$150K	$200K
504 approvals	181	229
504 dollars	$182M	$239M
Jobs supported, as reported	16,345	13,594

Questions and answers

Which lenders made the most SBA loans in Utah in FY2024?

Zions Bank, A Division of (184), Mountain America FCU (169), Mountain West Small Business Finance (133), Central Bank (69), U.S. Bank, National Association (65). 75 lenders had at least one approval.

How many SBA loans were approved in Utah in FY2024?

1,334: 1,153 under 7(a) worth $540M and 181 under 504 worth $182M.

Which Utah counties had the most SBA approvals in FY2024?

Salt Lake County (522), Utah County (278), Washington County (111), Davis County (108), Weber County (85).

When does FY2024 start and end?

The federal fiscal year 2024 runs from 1 October 2023 to 30 September 2024.

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