SBA loans by state
SBA loans in Utah: 1,052 approvals in FY 2026, median $210,000
Home-state lenders made 60% of the loans, against 26% nationwide. The state stood out for loans to specialized freight trucking, local.
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Utah: 7(a) loans approved last year
1,052
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Utah: median rate at approval, $50,001 to $250,000 | 9.25% |
| Utah: median 7(a) loan last year | $210,000 |
| Payment over 10 years, SBA fee added to the loan | $2,838/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
Utah, FY 2026: 1,052 SBA 7(a) approvals for $543.2 million (19th of the 50 states and DC, SBA file of September 30, 2026). Home-state lenders made 60% of the loans, against 26% nationwide. The state stood out for loans to specialized freight trucking, local. The state used 504 loans heavily: 256 approvals for $295.6 million. Variable rates dominated: only 5% of loans were fixed. Credit unions made 15% of loans. Mid-size loans had a median rate of 9.25%, below the national 9.75%. Few approvals were cancelled, 8%. Zions Bancorporation alone made 21% of the loans. Only 7% of variable loans sat at the SBA maximum. Few loans ran past 15 years: 9%. Only 81 lenders were active. Today’s cap on a $210,000 variable loan: 13.00%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| Zions Bancorporation | 226 | $106,000 | 9.00% | Utah (in-state) |
| Mountain America FCU | 90 | $118,750 | 9.38% | Utah (in-state) |
| U.S. Bank | 75 | $50,000 | 9.75% | Ohio |
| Central Bank | 72 | $240,000 | 9.00% | Utah (in-state) |
| Newtek Bank | 50 | $250,000 | 10.00% | Florida |
One of the most home-grown SBA markets
Few states rely on their own banks the way Utah does: 60% of its loans came from a lender headquartered there, 2nd highest among the 50 states and DC. Zions Bancorporation, Mountain America FCU and Central Bank carry most of that. Margins: 2.25 points over prime at the median for in-state lenders, 2.75 points for the others.
More common here than nationally: specialized freight trucking, local
10 Utah loans went to specialized freight trucking, local, 4.6 times the national share for that trade. The most frequent trades overall were limited-service restaurants, snack and nonalcoholic beverage bars and fitness and recreational sports centers. The trade is on the food supply chain list of the FY 2027 fee notice, so its 7(a) loans of $700,000 or less pay no guaranty fee, and its 504 loans pay neither the upfront nor the annual SBA fee.
A leading 504 state
Relative to its 7(a) volume, Utah uses 504 debentures more than almost anywhere: 256 of them for $295.6 million, a ratio to 7(a) loans 4th highest among the 50 states and DC. Mountain West Small Business Finance arranged 179 on its own. Building owners here can count on a CDC that knows the local market.
Fixed rates almost absent
Only 5% of Utah’s loans were fixed-rate, 2nd lowest among the 50 states and DC. Almost every borrower here carries a prime-based rate whose payment moves when prime does.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 208 | 11.50% | 13.50% |
| $50,001 to $250,000 | 373 | 9.25% | 13.00% |
| $250,001 to $350,000 | 127 | 9.50% | 11.50% |
| over $350,000 | 344 | 8.75% | 10.00% |
Credit unions take part
Credit unions made 15% of Utah’s SBA loans, against 3% nationally. A member business can ask its credit union first; the SBA rules and caps are the same.
Mid-size loans priced below average
On loans of $50,001 to $250,000, the median variable rate in Utah was 9.25%, against 9.75% nationally. A Utah quote above the national median for that size has room to come down.
Few cancellations
Only 8% of Utah’s approvals were later cancelled (14% nationally); nearly every loan approved went on to be disbursed.
One lender stands out: Zions Bancorporation
Zions Bancorporation made 21% of Utah’s approvals by itself, 226 loans with a median of $106,000 and a median variable rate of 9.00%. Across all its loans nationally, 0% of its variable loans were at the SBA cap.
Counties with the most approvals: Salt Lake (394), Utah (254) and Washington (86). Trades: limited-service restaurants (40), snack and nonalcoholic beverage bars (36), fitness and recreational sports centers (29), full-service restaurants (24) and residential remodelers (22).
All states compared.