SAN DIEGO--(BUSINESS WIRE)--
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.
Source: California Bank & Trust
Contact: LFPR (for California Bank & Trust)
Shana Starr / Tiffany Massey
949-502-7750 x 209/218
shanas@lf-pr.com / tiffanym@lf-pr.com