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Small Business Loans in Utah

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10 Small Business Loans in Utah

Our list is a dedicated analysis of small business financing sources in Utah, founded on reliable data. The lenders are arranged by the volume of small business loans they have distributed within the current year. 

Essentially, this identifies the financial institutions actively extending the greatest number of loans to Utah's small business sector.

This contrasts sharply with other online resources, which often limit their discussions to non-profit organizations with minimal lending activity or government initiatives that are beyond the reach of many companies.

Takeaway: Small and regional Utah-based banks and credit unions do most of the small business lending in Utah. 

Methodology: Our evaluation is anchored in data from SBA 7a loans, meaning each lender featured here provides such loans. 

Additionally, we've detailed the various other small business lending options advertised on their respective websites. 

It's worth noting that mainstream banks typically demand strong credit ratings and at least a two-year business history. Recognizing this, our compilation begins with two alternative financing solutions designed to support small business owners who may not have strong credit or are relatively new to their industries.

1. Credit Suite

Credit Suite specializes in offering advice on business credit and software solutions, along with a pair of unconventional financing options.

For entrepreneurs with established businesses but facing credit challenges, Cash Flow Financing presents a viable solution. This method allows businesses to secure funding based on their existing cash flows, enabling repayment through a portion of ongoing revenues instead of fixed monthly installments.

Additionally, the Credit Line Hybrid is tailored for individuals based on personal creditworthiness, bypassing the need for detailed financial documentation or business projections. 

This financing solution is particularly aimed at early-stage ventures and innovators, with available amounts ranging from $5,000 to $150,000, making it an ideal option for businesses in the initial phases of development, especially those under two years old.

Business financing options offered:

  • Credit Suite Cash Flow Financing

  • Credit Suite Credit Line Hybrid

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2. Mountain America Credit Union

Sandy-based Mountain America Credit Union lends more SBA loans than any other lender in Utah. They have a robust consumer presence, too, so you’ve probably seen many of their bank branches as you drive around town.

They also have business credit cards and other business financing options as well.

Business financing options offered:

  • SBA Lines of Credit

  • Equipment Loans

  • Owner-Occupied Real Estate

  • Acquisition

  • Secured Lines of Credit

  • 2 Business Credit Cards

3. Zions Bank

Given its name, it’s no surprise that Zions Bank is Utah-based - and its second-biggest SBA lender. Zions has a significant presence throughout the southwestern states and offers many different types of small business loans. 

Business financing options offered:

  • Term Loans and Lines of Credit

  • Small Business Administration (SBA) Loans

  • Business Term Loans

  • Business Access Loans

  • Business Lines of Credit

  • Commercial Real Estate Financing

  • Equipment Financing

  • Owner Occupied Commercial Real Estate

  • Factoring

  • 5 Business Credit Cards 

  • Agricultural Loans

4. Central Bank

Central Bank was voted "Best Bank in Utah Valley". Interestingly, all of their bank branches are located exclusively within Utah County. 

They really lean into their local origins and connections. Their bank officers and customers are prominently displayed all over their website. If you want to bank local and you live in Utah County, this is the bank for you.

Business financing options offered:

  • Commercial Real Estate Loans

  • Equipment Loans

  • Business Lines of Credit

  • Business Credit Card

  • Small Business Administration (SBA) Loans

  • 1 business credit card

5. Cache Valley Bank

Cache Valley Bank is a small, local bank with very little information on their website. They list out a number of small business loan options on their website. And you guessed it - they're located in Cache Valley.

Business financing options offered:

  • Small Business Loans

  • Commercial Real Estate Loans

  • Real Estate Development Loans

  • SBA Guaranteed Loans

  • Construction Loans

  • Equipment Financing

  • Receivables Financing

  • Commercial and Industrial Loans

  • Agricultural Loans

6. U.S. Bank

US Bank stands out as a significant national banking entity, offering a diverse array of business financing options. With its extensive network of branches, it's a familiar sight in many communities.

Business financing options offered:

  • US Bank Quick Loan

  • Business Term Loan

  • Commercial Real Estate Loan

  • Equipment Financing

  • SBA Loans

  • Dental, Medical, and Vet Practice Loans

  • Business Line of Credit

  • Manage Cash Flow

  • Business Equity Line of Credit

  • Business Reserve Line

  • 4 Business Credit Cards

7. Community Banks of Colorado

Community Banks of Colorado does lots of business in nearby Utah. Even though the plural “banks” is in its name, it’s actually just one company. 

Its website has a wealth of information about loan terms, sizes, and interest rates. As you can see, they offer many different types of SBA and niche industry loans.  

Business financing options offered:

  • SBA Loans - 7a, 504, Express, Working Capital CAPline, Export Express, International Trade Loan

  • Business Term Loan

  • Business Lines of Credit

  • Business Real Estate Loan

  • Industry Niche Loans

8. The Huntington National Bank

Huntington National Bank not only stands as a premier lender to small businesses within this state but also leads the national charts in issuing SBA 7a loans more than any other financial institution across the United States.

This commitment to small business support secures them a place among the top 10 lenders in numerous other states, showcasing their dedication to fostering small business growth.

Beyond their specialization in SBA loans, Huntington National Bank extends a broad spectrum of financing solutions tailored for small businesses, which encompasses leasing for equipment, loans for agricultural purposes, and a variety of loans for real estate ventures.

Business financing options offered:

  • SBA 7a Loans

  • Equipment Leasing

  • Church Lending

  • Greek House Financing

  • Agricultural Loans

  • Warehouse Lending

  • Real Estate Loans, Term Loans, and Lines of Credit

9. Wells Fargo Bank

Wells Fargo, a significant national banking institution frequently spotted in urban travels, offers a surprisingly limited selection of small business finance options given its size. However, their prominence on this list is attributed to the substantial amount of loan activity they manage to generate.

Business financing options offered:

  • SBA 7a Loans & 504 Loans

  • 2 Business Lines of Credit

  • Practice Financing

10. America First Credit Union

America First Credit Union is another Utah-based, small credit union with diverse business loan offerings. 

Business financing options offered:

  • SBA / Business Loan

  • Business Checking Lines of Credit

  • Business Vehicle Loans

  • Equipment & Machinery Loans

  • Unsecured - Capital Loans

  • Business Acquisition / Franchise Loans

  • Commercial Real Estate

  • 1 Business Visa Credit Card

How to apply for a small business loan in Utah

Getting your small business funded doesn't have to be overwhelming, regardless of how many steps may be involved. Let the leading business guides at Credit Suite help you along the way!

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