Zions Bancorporation Ranks No. 2 in U.S. for SBA 504 Third-Party Approvals
Zions Bancorporation (NASDAQ: ZION) ranked second in the U.S. for the number of U.S. Small Business Administration (SBA) 504 third party loans approved during fiscal year 2022.
Zions Bancorporation, through its affiliate banks and their branches in 11 western states and its National Real Estate division, provided $189.6 million in third-party approvals for 185 loans across the country.
For its lending achievements, Zions Bancorporation has been named 2022 Regional Bank 504 Lender of the Year, the National Association of Development Companies (NADCO) announced Oct. 27. Zions Bancorporation’s National Real Estate division will be recognized with a 504 Community Impact Award on Nov. 16, 2022.
“Zions’ partnership is absolutely critical to advancing the mission of the SBA 504 program,” said Rhonda Pointon, NADCO president and CEO. “Their commitment and dedication help small business owners across the country get the access to capital they need to succeed and make a positive impact in their community.”
Zions’ National Real Estate division uses referral sources from more than 300 banks and other lenders to originate or purchase commercial real estate loans — including SBA 504 loans — that may be outside their lending parameters or capacity. The division has 7 experienced business development officers, with locations in Atlanta, Dallas, Los Angeles, Brooklyn, N.Y., Seattle, Salt Lake City and Reno.
“In the early 1990s, Zions Bank’s National Real Estate Department became a pioneer in originating loans through local banks nationwide,” said Zions Bancorporation Chairman and CEO Harris H. Simmons. “Today, we’re proud to be a leading nationwide small business commercial real estate lender.”
SBA 504 Loans are made by participating banks and their Certified Development Company partners. The loans are designed to provide financing for the purchase of fixed assets — typically real estate, buildings and machinery.
Zions Bancorporation, N.A. is one of the nation’s premier financial services companies with 2022 annualized (through September 30, 2022) net revenue of $3.0 billion and more than $85 billion in total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.
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