(801) 746-1180 success@umlf.com

Loan Programs

Resources

 

The Utah Micro Loan Fund has a training lab where we offer a variety of classes at little to no cost to both prospective and existing borrowers. These classes are helpful to those that have an ongoing business as well as those that are just starting out. Classes vary; please check our calendar for more information.

 

  • Writing a Business Plan for a Lender
  • Cash Flow
  • The Art of Social Media

Please review the calendar for an updated class schedule. While these classes are offered at no cost to you, we do request that you RSVP. That can be done by calling UMLF offices at 801-746-1180 or emailing us at Training@umlf.com

 

 

Loan Programs:

Small Step Microloan

The small step microloan is available to businesses that need a small amount of money.

Loan Amount up to $5,000
Maximum Repayment Terms: 18 Months
Interest Rate: Prime plus 6% to 8%
Processing Time: 10 Business Days

This loan requires you to submit the following:

Summary Business Plan
12-month Cash Flow Projection
Management Resume

Occasionally additional documentation will be required

Traditional Microloan

The Traditional Microloan is available to new and existing businesses.

Loan Amount up to $25,000

Maximum Repayment Terms: 5 years

Interest Rate: Prime plus 5%-7%

Processing Time: 4 to 6 weeks

This loan requires the following:

Application

Business Plan

12-month Cash Flow Projection

3 years’ personal tax returns

3 months personal checking account history

3 years’ business tax returns, when applicable

3 months’ business checking account history, when applicable

Occasionally additional documentation will be required.

Rates and Terms are provided as a general guideline only. Rates and Terms outlined here are subject to change and may vary depending on the circumstances of your business.

Small Business Loans

The Small Business loan is available to new and existing businesses.

 

Loan Amount up to $50,000

Maximum Repayment Terms: generally, 5 years; however there are some circumstances where we allow a 6-year term.

Interest Rate: Prime plus 5% to 7%

Processing Time: 4-6 weeks

 

This loan requires the following:

 

Application

Business Plan

12-month Cash Flow Projection

3 years’ personal tax returns

3 months’ personal checking account history

3 years’ business tax returns, when applicable

3 months’ business checking account history, when applicable

 

Occasionally additional documentation will be required

Rates and Terms are provided as a general guideline only. Rates and Terms outlined here are subject to change and may vary depending on the circumstances of your business.

People with Disabilities Loan Program

The People with Disabilities Loan Program is available to new and existing businesses owned by a person with a disability. To determine eligibility, please contact the Utah Assistive Technology Foundation at 800-524-5152.

Loan Amount up to $20,000

Maximum Repayment Terms: 5 years

Interest Rate: Prime rate plus 0.25%

Processing Time: 4-6 weeks

This loan requires the following:

Application

Business Plan

12-month Cash Flow Projection

3 years’ personal tax returns

3 months’ personal checking account history

3 years’ business tax returns, when applicable

3 months’ business checking account history, when applicable

Occasionally additional documentation will be required

Rates and Terms are provided as a general guideline only. Rates and Terms outlined here are subject to change and may vary depending on the circumstances of your business.

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UMLF Resource Partners

Small Business Development Centers

These resources provide free one-on-one confidential evaluations and guidance by knowledgeable advisors with real-life business experience.

In addition to the classes offered at the UMLF, we have partnered with several business assistance organizations that can help you in starting or growing your business. We encourage you to take advantage of these free and low-cost services.

Salt Lake City
Salt Lake Community College
9750 South 300 West
Salt Lake City, Utah 84070

https://mbrcslcc.com/
801-957-5441

Logan
Cache Business Resource Center
1410 North 1000 West Room 1901
Logan, Utah
435-760-7937

Ephraim
Snow College
151 South Main Street
Ephraim, Utah 84627
435-283-7376

Cedar City
Southern Utah University
77 North Main Street
Cedar City, Utah 84720
435-586-8883

Ogden
Weber State University
2314 Washington Blvd. Room 211
Ogden, Utah 84401
801-626-7232

Kaysville
Davis Applied Technology College
450 South Simmons Way Suite 100
Kaysville, Utah 84037
801-593-2115

Price
Utah State University – Eastern
420 North 300 East
Price, Utah 84501
435-613-5443

St. George
Dixie State College
1071 East 100 South Suite C7
St. George, Utah 84770
435-652-7741

Logan
Utah State University
1770 North Research Parkway #140
North Logan, Utah 84341
435-797-2277

Orem/Provo
Utah Valley University
815 West 1250 South MS239
BRC Bldg Room 104
Orem, Utah 84058
801-863-8230

Richfield
(satellite of Ephraim)
800 West 200 South Room 155W
Richfield, Utah 84701
435-893-2252

Women’s Business Center
Salt Lake Chamber of Commerce
175 East 400 South Suite 600
Salt Lake City, Utah  84111

http://wbcutah.com/

801-328-5066

Brigham City
(Satellite of Logan)
265 West 1100 South
Brigham City, Utah 84302
435-919-1235

Vernal
Utah State University
320 North Aggie Blvd.
Vernal, Utah 84078
435-722-1779

Blanding
(satellite of Price)
639 West 100 South
Blanding, Utah 84511
435-678-8102

Pete Suazo Center
960 West 1700 South
Salt Lake City, UT 84104
801-521-1709

http://suazocenter.com/

(for assistance in Spanish)

SCORE Mentor Offices

SCORE is a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA) and has been mentoring small business owners for more than forty years – at no cost to the entrepreneur.

Salt Lake
310 South Main, Mezzanine North
Salt Lake City, Utah 84101

https://saltlake.score.org/

801-746-2269

Ogden
Weber State University
2036 Lincoln Avenue
Ogden, Utah 84401
801-629-8613

Northern Utah
Bridgerland Applied Technology Center
1410 North 1000 West, Room 1901
Logan, Utah 84321
435-760-7937

Southern Utah
1071 East 100 South, University Plaza
Build C, Suite C7
St. George, Utah 84770
435-652-7741

Provo
Central Valley Chapter
1060 North University Avenue
Provo, Utah 84604
801-373-8860

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