Resources are available for small business owners
It is an especially challenging time for the small businesses and organizations in our community. We know this and we are supporting several measures by the state to help. Among them:
- Small Business Loans. In partnership with Utah’s congressional delegation and the Utah Division of Emergency Management, the Utah Governor's Office of Economic Development announced on March 17 that businesses in all 29 counties are eligible to apply for low-interest loans through the Small Business Administration. Businesses are encouraged to apply for Small Business Loans here.
Terms of the SBA loans are as follows:
3.75% interest rate for small businesses
2.75% interest rate for nonprofits
Loan amounts up to $2 million per entity
Repayment terms up to 30 years
Here are instructions for applying for the loans. There's no requirement for a FEMA number. Businesses can only check the "Economic Injury" section. The Utah disaster number is UT00066.
- Disaster Relief Funds. The Governor’s Office of Management and Budget also has nearly $9 million in disaster relief money set aside to support organizations and activities throughout Utah. The funds will help local health departments, meals on wheels, and senior centers.
- Business Impact Survey. The Utah Economic Response Task Force would like your insights regarding how to reduce the economic impacts for businesses affected by COVID-19 and also, most recently, the earthquake on March 18. You can take the business impact survey here.
- Additional Resources. Please find more information and resources here:
If you’re a Utah small business owner and need help, have a question or some feedback, please contact GOED Business Services at firstname.lastname@example.org or 801-538-8793.