Apply For Loans and Grants

The  CARES Act HR 748 has allocated financial relief for you and your business. Compiled below are links with a quick breakdown of the main points for each option.

Follow each link for more details, but you are eligible for help if:

  • You are a company (S-Corp, C-Corp, Nonprofit)
  • You have been in business for 12 months
  • Federal
  • State
  • Local
  • Payroll Protection Program (PPP)
  • Economic Injury Disaster (EIDL)
  • SBA 7a Loan or Express Loan
  • SBA Express Bridge Loans
  • Current SBA Loans Debt Relief
  • Start applying on Friday, April 3
  • 8 weeks of payroll covered at 2.5X
  • Potentially 100% forgiven
  • Apply through your bank--NOW
  • SBA Information - PPP
  • Loans up to $2m are available
  • Low fixed interest rate of 3.75%
  • Repayment terms up to 30 years & 6 months deferment
  • No collateral required
  • $10,000 advance available. Check the box on the application
  • Apply Now
  • Rules are relaxed so likely to qualify
  • 100% government backed & 6 months deferment
  • Faster process with local lenders making decisions
  • Details
  • Those currently in business with an SBA Express Lender can access up to $25,000 with limited paperwork
  • Bridges the gap while applying for an EIDL loan
  • Repaid in full or in part by proceeds from the EIDL loan
  • Apply Now
  • SBA will pay 6 months of principal, interest and fees on your SBA7(a) loan under CARES Act
  • Starts with payments due after March 27, 2020
  • This program is automatic--No need to apply
  • Utah Leads Together Small Business Bridge Loan Program
  • Available for businesses of 50 or fewer employees, excluding nonprofits
  • Loan amounts range from $5,000 to $20,000
  • 0% interest for up to 60 months
  • Provided through the Governor's Office of Economic Development (GOED)
  • Details
  • Salt Lake City Emergency Loan Program (ELP)
  • Loans up to $20,000
  • 0% interest up to 60 months
  • Businesses must be within the Salt Lake City Limits
  • Details

For more information or to find a local disaster center, contact
SBA’S Customer Service Center 1-800-659-2955
(TTY:1-800-877-8339)
sba.gov/disaster

If your business is impacted by COVID-19, iMpact Utah can provide no-cost assistance to help you understand your next steps.

iMpact Utah Contacts:

Rick Papworth, Rick@impactutah.org(801) 845-4831

Win Jeanfreau, Win@impactutah.org(801) 845-4863