In August, the company announced a new European distribution facility to mitigate shipping costs and expedite order fulfillment for European customers. And after receiving an SBA 7(a) loan from Zions Bank in June 2012, the business was poised to add additional jobs.
Small businesses like DPS 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 2012. Zions has ranked as Utah’s No.1 SBA lender for the past 19 consecutive years, and has been the top SBA lender in Idaho’s Boise District for the past 11 consecutive years.
Zions Bank and its affiliates approved 437 SBA 7(a) loans in Utah, totaling $44.1 million for the fiscal year ended Sept. 30, 2012. These loans represent 40 percent of the 1,071 SBA-backed loans approved in the state during fiscal year 2012.
Capital provided through Zions Bank’s SBA loans helped Utah businesses grow so that they could hire 1,212 new employees and retain 2,289 positions, according to SBA data.
We also led all other financial institutions in Utah in marketing SBA loans to women- and minority-owned businesses and new start-ups. During fiscal year 2012, 32 percent of the SBA loans approved by Zions Bank were to women and minorities, and 34 percent were made to new businesses.
Whether you are starting a business or growing a business, Zions Bank is here to support you. Through the end of 2012, we are offering small business owners a complimentary business toolkit, which includes a resource guide on topics ranging from marketing and social media to hiring tips and cash flow management. 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.