The Utah Governor’s Office of Economic Development is offering a bridge loan to Utah-based small businesses with 50 or fewer employees impacted by the COVID-19 pandemic. Loan amounts range from $5,000 to $20,000 with 0% interest for up to a 60-month period. Loan amounts shall not exceed three months of demonstrated operating expenses. Loan payments are deferred for 12 months.  Loans approval takes about a week.  For all the details, see: https://business.utah.gov/utah-leads-together-small-business-bridge-loan-program/

Also, the recently passed CARES act will begin providing “Forgivable” SBA loans to cover payroll and other qualifies expenses.  Please see the attached flyer from Senator Mike Lee’s Office for details.  To get one of these loans, please visit a local bank or credit union that gives SBA loans, such as: Zions, Cache Valley, State Bank of Southern Utah, Mt. America Credit Union, and perhaps others?

Small Business Bridge Loan

Utah-based small businesses with 50 or fewer employees impacted by the COVID-19 pandemic may apply now for a new bridge loan program. Access   utahgoed.info/loan    for complete details.