Utah Governor’s Office of Economic Development

Over the past sixteen years, the Utah Microenterprise Loan Fund has worked in partnership with members of Utah's financial banking community to help launch or expand more than 590 small businesses across the state.

Through our loans ($1,000-$25,000), we've been able to help people with low to moderate incomes supplement their earnings. We've helped women find the flexibility they need to balance their work and families. We've worked with child care providers to increase the number of children they are able to have in their care. We've also helped minorities, immigrants and people who have been injured in the workplace find economic security through ownership and operation of their own small businesses.

Whether a small business is a sole source of income or a crucial supplement, Utah microenterprise loans help provide the necessary capital to put individuals and families on the road to greater self-sufficiency. Working together with our clients and our financial partners, we build healthier families, stronger communities and most of all -- brighter futures.

Our loans are designed to help people who cannot qualify for traditional small business loans. Whether loans are used for inventory, equipment, payroll or other costs, the UMLF understands that small business owners need access to money but often can’t qualify for bank loans because they lack a business history, sufficient collateral or have limited or a poor credit.

You should think about other possible lending sources before considering one of our loans. If you, or key partners, are in a financial situation to borrower money elsewhere, our loans are not for you.

We're not like a regular bank.
We're actually a not-for-profit organization.  For us, lending is about more than making money.  It's about helping people increase their incomes, feel better about their lives and build up their neighborhoods.

We take a personal interest in you.
Our application process gives you the opportunity to tell your story, in person, to the people who decide whether to approve your loan.

To us, your character is as important as your business plan.
Poor or limited credit?  We're accomodating.

We know that bad things can happen in life, such as a divorce, medical problems or job loss, that affect your credit rating.  We want to talk with you about what happened, where you are now and how we can help you move forward with your business.

Worried about collateral?  We're flexible.

While collateral is not the only thing we consider in our lending decision, we do ask you to offer what you can as a representation to us of your faith and investment in your small business endeavor.

Here are some additional resources:
Program Information:
Kathy Ricci, Executive Director
(801) 746-1180

Loan Information:
Bim Oliver, Programs Manager
(801) 746-1180
boliver@umlf.com

154 East Ford Avenue Suite A
Salt Lake City, UT 84115
(801) 746-1180 Tel.
(801) 746-1181 Fax