Welcome to the Utah Microloan FundWe make Utah small business owners' dreams a reality. Since 1991, we have provided small business loans up to $50,000 and free business advising to entrepreneurs in start-up & existing businesses that do not qualify for traditional funding sources, with a focus on the underserved.
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“The UMLF was a huge help in the growth of RustPack. They were absolutely amazing to work with and got me through the process quickly and smoothly. They have an amazing procedure for each of their clients. It really made me look deep into my company and answer some really hard questions that most people look over. They did more than just help financially, they helped guide me into building and growing a successful company."
RustPack
Pleasant View, 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.”
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 |
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"My funding from the UMLF has helped me expand our menu offerings and product lines as well as hire staff as we grew. The classes and advisors there are always there to help me when I get stuck to get unstuck with alternatives and/or solutions. Their advice has been so appreciated because they understand my businesses and they know ME as a person and know how to help me through my weaknesses in order for me to grow and expand."
Kahve Cafe
Salt Lake City, UT |
Frequently Asked Questions
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What exactly is a CDFI? How do we differ from a bank?
Get answers to these questions and more in our FAQ section. |
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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 are you different from a bank?
Our lending guidelines are more flexible than traditional banks because our purpose is community impact, not profit. This means that we are able to take more risks due to our mission. 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.
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?
The best place to start is with our Loan Orientation. Learn more here: www.utahmicroloanfund.org/orientation
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Business of the Month ✨Kalo Clinical Research
"I am Bella Tukuafu Johnson, born and raised in a tiny town called Punalu’u on the island of Oahu in Hawaii. I’m the 9th child of 14 siblings (5th daughter of 7), raised in the mountains without electricity until I was 12 years old, where at that point we built an electrical plant run by the river so we had electricity moving forward. While we were poor in material things, we were extremely blessed in love and the abundance of goodness.
I obtained a bachelor’s degree in international studies with an emphasis in Health at BYU Provo, and promptly secured employment at the University of Utah in the field of health research, focusing on cancer, pediatric and genetic research, inclusively providing me with over 14 years of research experience in health. My life experience and rich heritage have created a drive in me to learn, grow and expand my horizons, including the opening and growth of Kalo Clinical Research (KCR)." |
Owner Bella Tukuafu Johnson of Kalo Research
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Resources
Class LibraryNeed extra help getting your business of the ground? Want to be the master of your business?
We offer live virtual classes covering topics like social media, cash flow, hiring, e-commerce, business planning and more. These classes are free and open to the public throughout the state of Utah. |
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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.
