Welcome to the Utah Microloan FundWe empower under-served and low income communities in Utah by providing business training and small business loans up to $50,000 to entrepreneurs in start-up & existing businesses that do not qualify for traditional funding sources.
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Interested in applying
for a loan? Want to learn more about our loan options and process? Our online orientation can help you navigate getting a loan for your small business from the Utah Microloan Fund. |
Apply now for our Fall Banking on Women program!
Banking on Women™ is a program for female entrepreneurs created to empower women in Utah to start or grow their own small business. Whether you are in the planning phase of a startup or have been in business for years, this course was developed to help you succeed in the world of business.
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“The UMLF has helped our business immensely. Just by building our application and applying for the loan we learned so much about our finances and business needs. With the funds we received we were able to improve upon our processes and start marketing to grow our business. We love the UMLF”
Great Basin Coffee Company
Provo, UT |
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“I am so thankful for UMLF. Without them, I wouldn't have gotten my business off the ground as soon as I did. The UMLF approved me for a loan to buy a dump truck. They have also provided with much-needed support free of charge. I know with UMLF that I have the confidence to be very successful.”
Lakasha Hodges - HPG Trucking
Clinton, UT |
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“In the last couple of years, I have had several large orders that I turned away simply because we could not afford the ingredients or machinery to fulfill them. The Utah Microloan Fund made it possible for us to take one of those big orders. It was so liberating to know I could do it. Now I want more! We are more ready than ever before for big orders! It is our time to move forward for JulieAnn Caramels!”
JulieAnn Caramels
Sandy, UT |
Business of the Month ✨Mailed It!
"We began as coworkers and grew as friends who couldn't wait to work together again! With a shared love of similar small town backgrounds and current western lives, we are as alike as we are different. One thing is for sure, we never miss an opportunity to celebrate...whether that is a random Tuesday, the birthday of a lifelong friend, or anything in between!
We have a drive to bring you the most fabulous cards out there, and to encourage everyone to get back to mailbox celebrations. And, thus, MAILED IT! was born. Sure, digital is always an option, but taking the time to show up for each other in a thoughtful way is the mission at MAILED IT!!" |
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Frequently Asked Questions
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Have a question about our loan process? Check out our frequently asked questions for more information.
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Who is eligible to receive a loan through Utah Microloan Fund?
The UMLF is considered a “lender of last resort,” meaning we try to help business owners who aren’t able to receive bank financing because of poor credit, insufficient business history, insufficient collateral, etc. Our main focus is businesses that are located in underserved areas and individuals that earn low-to-moderate income.
How is the Utah Microloan Fund different from a bank loan?
If you can qualify for a bank loan we encourage you to start with our local partners who can give you a lower interest rate. Because we take on loans with higher risk our interest rates are typically 2-8% higher.
Does the Utah Microloan Fund help startups?
Yes. Banks typically require at least two years of business financials to be considered for a loan, which makes it hard for start-ups to receive funding. We fill that gap. If you have previously been declined from a bank loan but have a great idea you may be a good fit for us! While we consider factors like credit score, collateral, and history, a lot of what we do is based on a solid business plan and your personal character.
What is the process for applying for a loan?
Applicants must first go through our online orientation slide deck to learn about the program and what the application steps are. Then they fill out a form to request access to our online application page.
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Resources
Class LibraryNeed help for your small business?
View our complete free library of online classes covering topics like social media, cash flow, business planning and more. |
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Our Partners & Sponsors
The Utah Microloan Fund would like to thank our generous program sponsors,
donors and partners.
donors and partners.
