Utah Microenterprise Loan Fund

So I attended the orientation meeting for the Utah MicroEnterprise Loan Fund so I could use the information to assist any clients in going through the process to obtain funds for an existing or startup business through them. It was one hour in length, informative and too the point. A variety of potential borrowers were in attendance to find out about obtaining funding for their enterprises. The variety of businesses in attendance was interesting and there were even in attendance several people that just got laid off from work and are thinking of starting a business. Loans range from $10,000 to $25,000 (depending on business location) with a possible 5 year repayment term at rates of prime plus 5-7%. Things change fairly rapidly and approval rates (per the administrator) are around 50%. If you want more information, help in putting together a proposal or just information let me know and I would be happy to email it over.

Thanks David