Small-Step Microloan

Available to existing small businesses, this loan offers a smaller amount of money to help you take the next small step forward in growing your business.

Loan Specifics:

> Loan Amount: up to $5,000

> Areas of Availability: Box Elder, Davis, Morgan, Salt Lake, Summit, Tooele, Utah, Wasatch, Weber, Cache and Rich Counties

> Maximum Repayment Term: 18 months

> Interest Rate: Prime Rate plus 6%-8%

> Processing Time: 10 business days

This loan requires you to complete a summary business plan (including a 12-month cash flow forecast).  You must be prepared to demonstrate that you have generated steady sales over the previous six months.


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