Beginning today, the Utah Governor's Office of Economic Development is offering a bridge loan to small businesses based in Utah to help them weather the COVID-19 crisis.
Busineses with 50 or fewer employees may apply. Loan amounts range from $5,000 to $20,000, or up to three months operating expenses. The loan is interest free and it's payable over five years with the first payment not due until the end of the first year. The loan uses about $8 million in re-purposed state economic development funds. 25% of the funds will go to rural Utah businesses.
Utah small businesses can apply for the "Utah Leads Together Small Business Bridge Loan" starting today until Friday, April 3 at noon.
For more information, click here.
