BlogRankingCityBest Salt Lake City, UT SBA Lenders & Rates of 2026

Best Salt Lake City, UT SBA Lenders & Rates of 2026

February 2, 2026
City, Ranking
2 min read

Best Salt Lake City, UT SBA Lenders & Rates of 2026

$71.5M
Total Funded

148
Loans Approved

$483K
Avg Loan Size

9.92%
Avg Interest Rate

36
Active Lenders

SBA Loans in Salt Lake City, UT

Salt Lake City, UT businesses received $71.5M in SBA 7(a) loan approvals across 148 businesses in 2025. With 36 active SBA lenders competing for business in Salt Lake City, understanding which banks offer the best rates can save you tens of thousands of dollars.

💡 Key Insight: The average SBA loan in Salt Lake City is $483K, with rates averaging 9.92%. Rates vary significantly by lender—comparing offers can save you $50,000+ over the life of your loan.

Salt Lake City SBA Loans by Business Type

🚀 Startups
36%
$22.6M • 53 loans

🏢 Existing Businesses
55%
$36.1M • 81 loans

🔄 Acquisitions
9%
$12.8M • 14 loans

Top SBA Lenders in Salt Lake City, UT (2025)

Based on official SBA data analyzed by GoSBA Loans, these are the banks that funded the most SBA 7(a) loans to Salt Lake City businesses:

Rank Lender Volume Loans Avg Rate
1 U.S. Bank, National Association $5.0M 10 10.70%
2 Northwest Bank $4.8M 8 9.91%
3 Citizens Bank $4.8M 2 9.63%
4 Mountain America FCU $4.6M 10 10.24%
5 KeyBank National Association $4.5M 4 9.67%
6 The Huntington National Bank $4.2M 8 9.14%
7 Byline Bank $4.0M 1 9.50%
8 America First FCU $3.5M 6 8.50%
9 First Internet Bank of Indiana $3.4M 2 10.00%
10 First Utah Bank $3.4M 7 10.29%
11 Celtic Bank Corporation $3.2M 6 10.42%
12 Cache Valley Bank $3.0M 2 8.75%
13 Zions Bank, A Division of $2.7M 31 10.41%
14 Live Oak Banking Company $2.2M 2 9.00%
15 Wells Fargo Bank National Association $2.1M 3 9.62%
16 UMB Bank, National Association $2.1M 3 5.46%
17 MISSINGMAINBANKID $2.0M 2 9.25%
18 Milestone Bank $1.9M 1 9.75%
19 Central Bank $1.5M 6 8.46%
20 Fortis Bank $1.3M 1 9.00%
21 Canyon View Federal Credit Union $1.3M 9 9.64%
22 First Business Bank $1.2M 1 10.25%
23 Paragon Bank $730K 1 8.75%
24 BayFirst National Bank $600K 4 12.25%
25 Heritage Bank Inc $500K 1 10.50%
26 Newtek Bank, National Association $475K 2 10.25%
27 GBank $422K 1 9.75%
28 Cadence Bank $350K 1 10.25%
29 First Bank of the Lake $300K 2 12.50%
30 Alerus Financial, National Association $296K 1 10.00%
31 JPMorgan Chase Bank, National Association $230K 2 10.50%
32 Pathfinder Bank $200K 1 8.50%
33 Northeast Bank $191K 2 11.75%
34 Magnifi Financial CU $176K 1 10.25%
35 D. L. Evans Bank $170K 3 9.25%
36 Mountain West Small Business Finance $150K 1 9.75%

Top Industries in Salt Lake City

Here are the industries that received the most SBA funding in Salt Lake City:

Roofing Contractors

$5.8M
Volume

2
Loans

Full-Service Restaurants

$5.3M
Volume

9
Loans

Confectionery Merchant Wholesalers

$3.4M
Volume

2
Loans

Motor Vehicle Body Manufacturing

$3.1M
Volume

1
Loans

Tile and Terrazzo Contractors

$2.0M
Volume

2
Loans

General Warehousing and Storage

$2.0M
Volume

2
Loans

SBA Loans in Utah

Salt Lake City is part of Utah‘s SBA lending market. For statewide data and more lender options, see our full Utah SBA Lenders guide.

🤝 Why Use an SBA Broker in Salt Lake City?

GoSBA Loans helps Salt Lake City businesses access the best SBA lenders:

  • Access 36+ lenders — including many that don’t accept direct applications
  • Local market expertise — we know which lenders are most active in Salt Lake City
  • Rate comparison — get competing offers to secure the best terms
  • Free service — lenders pay us, you pay nothing extra

📞 Get Expert Help with Your Salt Lake City SBA Loan

Our team has helped hundreds of Salt Lake City businesses secure SBA financing. Let us match you with the right lender.

Looking for SBA loan help in Salt Lake City? GoSBA Loans is a trusted SBA loan broker serving businesses in Salt Lake City and across Utah. Contact our Salt Lake City SBA specialists today for a free consultation.

Explore More SBA Markets

http://gosbaloans.com

Ishan Jetley is the owner of GoSBA Loans. I have assisted 100's of businesses with their business loans. I specialize in SBA financing for working capital, real estate and business acquisitions.

You may also like

CONTACT US