21.12.2009 14:04:00
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California Bank & Trust is Ranked as a Top SBA 504 and 7(a) Lender in California by the US Small Business Administration
California Bank & Trust (CB&T) (www.calbanktrust.com) today announced that the bank was ranked the third largest producer of U.S. Small Business Administration (SBA) 504 loans and the fifth largest producer of SBA 7(a) loans, in the State of California according to the SBA. The SBA 504 ranking is based on both number and dollar amounts of loans produced while the SBA 7(a) ranking is based on just number of loans produced. Both rankings are based on CB&T’s loan production performance during the SBA’s 2009 fiscal year from October 1, 2008 through September 30, 2009. The SBA 504 loan is generally used to finance purchases of owner/user commercial real estate while the SBA 7(a) loan can be used for a wider variety of business purposes including for example business acquisition. According to the SBA, small businesses make up 99.7% of all employers in the United States and employ nearly 50% of private sector workers.
"As one of the largest banks headquartered in California, we are very pleased to have been able to help so many small businesses by utilizing the SBA 504 and 7(a) loan programs,” said Tory Nixon, EVP of California Bank & Trust. "During these challenging economic times, many businesses are having a difficult time accessing the capital necessary to support their continued operations. California Bank & Trust is proud to once again be recognized as a top SBA lender in California and continues to be dedicated to providing the much-needed financial backing through our expertise in SBA lending.”
The SBA was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of the nation.
About California Bank & Trust
California Bank & Trust, a subsidiary of Zions Bancorporation (NASDAQ:ZION), is one of the largest banks headquartered in California with over $10 billion in assets and more than 100 branches statewide. With local management and decision-making and an emphasis on relationship banking, CB&T provides financial solutions for businesses and individuals, that includes commercial as well as small business lending, cash management, international banking, wealth management, and online banking. Learn more at www.calbanktrust.com.
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