PORTLAND, OR-The Small Business Administration has assigned “Preferred Lender” status to the Portland office of Zions Small Business Finance, a Division of California Bank & Trust.

The designation means SBA 7(a) loan approvals can now be had in less than 36 hours. Proceeds from the 7(a) program may be used for business start-ups, expansions, equipment purchases, working capital, commercial inventory or real estate purchases. The loan program offers 25-year, fully amortized loans that result in lower monthly payments for the borrower.

According to published information from the SBA, CB&T ranked as California's third largest SBA 7(a) lender for fiscal year 2001, approving a total of 391 loans for approximately $57.4 million. Within the state's growing San Diego market, CB&T ranked as the number one SBA lender.