BOISE — For the 17th year, Zions Bank was the top provider of U.S. Small Business Administration 7(a) loans for the Boise District — approving 83 SBA 7(a) loans in the district, totaling more than $12.5 million.
The loaned capital allowed Idaho businesses to hire 201 new employees and maintain 339 positions in 2018, according to SBA data.
Zions Bank continues to be a leader in marketing SBA loans to women- and minority-owned businesses, which accounted for more than 25 percent of the loans approved by the bank in Idaho during fiscal year 2018.
“We are committed to supporting entrepreneurs as they create jobs and fuel our economy over the long term,” Zions Bank President and CEO Scott Anderson said in a statement.
The 7(a) loan program is the SBA’s primary program for providing financial assistance to small businesses and offers guarantees on loans of up to $5 million on reasonable terms and conditions. These loans are commonly used for acquiring land, purchasing equipment or for working capital.