The Salt Lake City banking company is helping the Pete Suazo Business Center, which aims to assist minority entrepreneurs start and develop successful businesses, construct a new facility at 950 W. 1700 South.

Zions, which invested $25,000 last year to help create the center, has kicked in another $25,000.

It also has given the center a short-term loan to start construction now on the new 4,000-square-foot facility, which will be funded from a grant that Suazo Center managers expect to receive from the U.S. Department of Housing & Urban Development.

Zions also has two full-time employees who consult with center clients who need loans, and next month it is launching a financial literacy program there. Those employees make the center unique because similar small-business centers typically do not have loan officers on hand.

"Zions Bank has been our big supporter," said Gladys Gonzalez, founder of the center, which has counseled an estimated 120 business owners and entrepreneurs. "They have really helped make this a success."

The center, named for the late state Sen. Pete Suazo, is currently located at 625 W. Girard St. (540 North). Its new location is expected to open in early- to mid-2005.

Although Zions is the only bank that has provided financial support so far, Suazo Center executive director Robert Heyn said he is trying to involve others. "Little by little, the banks have realized how important the Latino market is here," he said. "And they realize that our center is here to stay, so I think they will be more likely to help us."

Besides supporting the center, which caters to all minorities, Zions has launched several other initiatives to cater to Latinos, including the creation of six Hispanic Financial Centers along the Wasatch Front that feature Spanish-language bank officers and materials printed in Spanish.

In the next six weeks, the bank also expects to open a branch at 1635 S. Redwood Road in which all employees will be bilingual and all printed materials and signs will be in Spanish and English.

"The Pete Suazo Center is an extension of our commitment and desire to reach out to the Hispanic community," said Zions spokesman Rob Brough.

lesley@sltrib.com