801-746-1180
Make Your Business Dreams a Reality


The mission of the Utah Microloan Fund is to support Utah entrepreneurs by providing business training and financing to start-up and existing small businesses that don’t qualify for traditional funding.

Microloans for Utah Small Businesses

​Turned down by a bank? Just starting out? We are here to help!

With our flexible terms & loan programs, including SBA Microloans, we'll work with you to build a loan that fits your business needs.
  • Fixed Rate - 10-14% (currently)
  • Up to 6-year loan term
  • Available for working capital, equipment, inventory, property improvements, business purchases, etc. 
  • No pre-payment penalties.
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Kris and Sadie, Drool Dog Treats

Who We Serve

Tania Rodriguez, Los Churros Del Norte
 We help people who:
  • Are just starting out and don’t have an operating history. 
  • Don’t have enough collateral or cash flow for a traditional bank loan.
  • Have had life events that have impacted their credit history. 
  • ​Are looking to continue their business education.​​
We are unable to fund: 
  • MLM's 
  • Real estate or building purchases
  • Businesses not registered in the state of Utah​
Frequently Asked Questions
What are the eligibility requirements for a loan? 
Before you apply for a loan with our team, you will need to review the following requirements to ensure you currently, or will soon, meet all requirements:
  • Must be a resident of Utah
  • Must have a registered business in Utah 
  • Must have an open business checking account at a bank or credit union
  • Must have no active bankruptcies in the last 12 months, a current plan for any delinquencies or late payments. ​
  • Collateral (a car, home, or other asset) is not always a requirement for approval but  it can definitely help. Each application is considered on a case-by-case basis.
    • If our team is not comfortable with the collateral offered, we may ask if the business can be started with less or request a strong co-signer who is willing and able to make the loan payment if the business and borrower are unable.​
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What is the process for applying for a loan?​
  1.  Attend our mandatory Loan Orientation to learn about our loan program, terms, eligibility, what is required to complete an application and ask direct questions with our Loan Officer. These are held every Tuesday at 9am. Sign up here: Virtual Loan Orientation. 
  2. We require that you are working with an Business Advisor. You can find a free advisory with Small Business Development Center (SBDC). Find one near you here: Utah SBDC Locations . Women's Business Center of Utah. Find an advisor here: www.wbcutah.org
  3. Once completed you will fill out a form to request access to our online application page here: Lenderfit Sign-Up. You will then start submitting our required documents, your Business Plan and Cashflow Projections using our provided templates, personal information, and your $50 application fee. ​
  4. Our Loan Officer will then work with you to strengthen your application and prepare you to present to our team - held virtually. If approved, we will then work with you on getting the proper documents and signatures to close your loan. ​
  5. The speed of the application process and getting approved depends largely on how quickly you submit your application and documentation. 
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 How does our team make its decision?
Our teams look at a variety of factors when deciding to approve a loan including:
  • How solid we believe the cashflow projections and business plan. 
  • Traditional means like credit scores, collateral, education, industry expertise.
  • ​Your ability to repay the loan if the business fails.
  • The character of the individual. 
    • ​If there are intentional attempts at covering up or hiding information, a history of fraud/crime, and a pattern of non-paid debts, this factors into our decision. 
 What should my presentation include?​
This is your chance to meet with our team and show that you are ready and prepared to make your business succeed! Topics to speak to during your presentation may be: why you want to start this business, your background or story, how the loan will help you grow/succeed, and your business plan. We want to see that you understand your numbers, competition, customers, and market inside and out. 

What do I do if I need help with the business plan and/or cash flow projections?​
If you need extensive help we also recommend connecting with your local: ​
We also have reoccurring virtual classes on both topics or you can access our class library! Both are great options to get you started.
Loan Application Process
Step One

Complete Loan Orientation

Held virtually every Tuesday at 9am, our mandatory orientation is an overview of our process and requirements and will give you a chance to ask questions and chat with our Loan Officer.

Take Orientation
Step Two

Preview our Templates

Want to get started on the cash flow projection and business plan? Preview our required templates here.

Step Three

Fill Out Inquiry Form

This form includes information about you, your business, and the funding you are looking for. Once verified we will then add you to Lenderfit, our online application system.

Lenderfit Sign-Up
Step Four

Present Your Business

Once your application is complete you will then present your business and funding request to our team. For us to have time to underwrite your application and to review your packet, we will need to have your application completed and the $50 application fee two weeks before you are ready to present. We will set up a date for you to present upon completion.

Ready to Get Started?

Need Other Resources?

​Nicole and Chris Carver, Tonyburgers
In addition to loans for small businesses, we provide:
  • Advising
  • Connection to advising partners
  • Resource Guides
  • ​Bi-monthly business education classes
  • Digital Class Library of past classes

Stay in the Loop

Want to stay up to date on resources, events, classes and more? ​