Create a character type calculated field, using this expression:
If the string "CFT" is contained within SBA Reason, the instr function will return a value greater than zero, equal to the position within SBA Reason where CFT appears. If it doesn't exist, you get an empty string.
You can then filter where the value of this field is "CFT".
Just a couple of quick observations for future finders of this thread ...
If filtering without the desire for a calculated field as an interim output Kruncher's formula could be embedded in a filter formula.
For anyone using V9 or above there is an option to use the TEXTLINE function in SEARCH mode to identify the existence of the string being searched for. The result would return the entire line (in this case the entire field) so to make a calculated field one would either need to process the resulting string and slice and dice OR use an IF statement to populate the field with something suitable.