In 2002, entrepreneur Benjamin Jung launched his wholesale dental manufacturing and supply company with a single line of consumable dental lab products. Today B&D Dental Corporation in West Valley City is recognized as a leader of dental laboratory technology. The company has steadily grown to 43 employees, 10 of whom were hired in 2011. And after receiving a Small Business Administration 7(a) loan from Zions Bank in June, the business is poised to add additional jobs.
Small businesses like B&D Dental Corporation are the lifeblood of our Utah economy, where about 97 percent of companies qualify as small businesses. At Zions Bank, we are proud to provide support and expertise to these small businesses, which in turn create jobs and fuel economic growth.
Demonstrating our commitment to small businesses, Zions Bank was once again named the top lender of U.S. SBA 7(a) loans in Utah for 2011. Zions has ranked as Utah’s No.1 SBA lender for the past 18 consecutive years, and has been the top SBA lender in Idaho’s Boise District for the past 10 consecutive years.
For the fiscal year ended Sept. 30, 2011, Zions Bank and its affiliates approved 555 SBA 7(a) loans in Utah, totaling $77.3 million. These loans represent 35 percent of the 1,561 SBA-backed loans approved in the state during fiscal year 2011.
Additionally, capital provided through Zions Bank’s SBA loans helped Utah businesses grow so that they could hire 1,218 new employees and retain 4,314 positions, totaling 5,532 jobs, according to SBA data.
We also led all other financial institutions in Utah in marketing SBA loans to women-owned businesses and new start-ups. During fiscal year 2011, 30 percent of the SBA loans approved by Zions Bank were to women, and 30 percent were made to new businesses.
Whether you are starting a business or growing a business, Zions Bank is here to support you. Call the Business Resource Center for a free appointment at (801) 594-8245. We are open Monday through Friday from 9 a.m. to 5 p.m. Beth Holbrook can be reached at email@example.com.