Zions Bank

• Business Term Loan Services
• SBA Loans
• Not a Big Bank

Business Term Loan Services

The company has a variety of business financing and loan options that aim to accommodate many different situations. Zions Bank offers both secured and unsecured business loans. The loans are a one-time need and are purposed for business expansion, increasing working capital. The business term loans can help finance furniture, fixtures, and equipment. Rates are fixed or variable and terms are up to 84 months. The business term loans include a loan origination fee, appraisal fee, and filing costs.

SBA Loans

Zions Bank has been ranked as the #1 Small Business Administration Loan Lender for 21 consecutive years in Utah, and 13 consecutive years in Idaho. The company works with term loans, working capital loans, lines of credit, and a 504-loan program. With the small business administration loan, clients can purchase machinery, equipment, inventory, real estate, and more. Terms range up to 25 years depending on which loan type is chosen, and these loans can typically finance all business assets. Interest rates are variable, and these loans include an SBA guarantee fee and a packaging fee.

Not a Big Bank

Zions Bank focuses a lot on quick, high-quality customer service, and is not a "big bank." In fact, the company has been known to approve loans from 20 minutes to just one business day. Even though specific rates are not provided on the website, Zions Bank's rates are known to be more affordable than typical big bank rates.

• Limited Availability
• Fees

Limited Availability

Zions Bank does not offer services to all 50 states. In fact, locations are quite limited. Zions Bank only has full-service providers in Utah, and Idaho. Zions Bank is a part of Zions Bancorporation, but even then, Zions Bancorporation only operates in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington.

Fees

Fees depend on each Zions Bank business loan type. Between the different loan types, customers should look out for one or more of the following fees:

• Loan origination fee
• Annual fees
• Account receivables monitoring costs
• Filing costs
• Appraisal Fee
• Title Policy Fee
• Document Fees

While the website does not explain fee amounts, Zions Bank is upfront about saying which kinds of fees are associated with which each service.