Zions still Idaho’s top SBA loan lender
Zions First National Bank issued $11.7 million to businesses in Small Business Administration loans in 2013, making Zions the leading SBA lending for the 12th straight year.
A total of 317 businesses in the Boise District, which includes all of Idaho except for the Panhandle, were approved for nearly $76 million in SBA loans. The cap for SBA loans is $5 million.
Cece Mitchell, Zions senior vice president and SBA lending Manager, said the average Zions SBA-guaranteed loan is about $200,000. The SBA guarantees 75 percent of the loan value on loans of more than $150,000 and 85 percent on loans of less than $150,000.
The SBA loan program exists to encourage small business lending, said Larry Demirelli, spokesman of the SBA Boise office.
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