About this programme
The Utah Rural Jobs Program lets qualified small businesses in rural Utah counties expand operations and create high-paying jobs by accessing flexible capital, without dealing with the state directly.
Instead of lending state money itself, Utah authorizes a small set of state-approved Rural Investment Companies (RICs) to provide financing to eligible businesses. Up to $5,000,000 in capital is available per business through these RICs.
How it works
A business works directly with a Rural Investment Company to negotiate a potential investment. All terms and conditions of that investment, including structure, rate, and repayment, are agreed strictly between the business and the RIC, not with the state.
The state's role is limited to authorizing which investment companies can participate in the program; it does not review or approve individual deals.
Who can apply
The business must have fewer than 150 employees and less than $10 million in net income for the preceding taxable year. Startup companies are eligible.
The business must be located in a rural Utah county, with principal business operations in Utah, and at least 60% of its employees based in-state (either at the time of investment or within 180 days after).
Eligible industries are aerospace, agribusiness, defense, energy and natural resources, financial services, information technology, life sciences, manufacturing, outdoor products, and software development.
How to apply
- Identify which Rural Investment Companies are authorized in Utah (as of the program's 2023 list: Advantage Capital Utah Partners II, Enhanced Capital Utah Rural Fund II, Stonehenge UT Rural Fund I, and Utah Rural Jobs Subsidiary Fund).
- Contact a Rural Investment Company directly to discuss a potential investment; the state is not part of this conversation.
- Negotiate terms directly with the RIC. All conditions of the investment are set between the business and the RIC.
Frequently asked
Do I apply to the state of Utah for this funding?
No. You work directly with one of the state-authorized Rural Investment Companies; the state does not review or approve individual investments.
How much capital can my business access?
Up to $5,000,000 per business, provided through an approved Rural Investment Company.
Can a brand-new startup qualify?
Yes, startup companies are eligible as long as they meet the employee count, net income, location, and industry requirements.
What industries qualify?
Aerospace, agribusiness, defense, energy and natural resources, financial services, information technology, life sciences, manufacturing, outdoor products, and software development.
More funding in Utah
Agriculture Resource Development Loan (ARDL)
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Low interest loans, currently 4 percent APR, help Utah farmers, ranchers and irrigation companies fund conservation and resource projects.
Rural Economic Development Tax Increment Financing (REDTIF)
Utah Governor's Office of Economic Opportunity (GOEO), Business Recruitment & Expansion · Utah
Rural Utah businesses that create new jobs paying at least the county average wage can earn a post-performance state tax credit.
Utah APEX Accelerator
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Free one-on-one counseling helps Utah businesses find, bid on, and win government contracts, including with the Department of Defense.
Utah Small Business Credit Initiative (USBCI)
Utah Governor's Office of Economic Opportunity (GOEO) · Utah
State-backed loan participation and loss-reserve programs get Utah small businesses lower interest rates and financing with little or no collateral.
Rural Employment Development Incentive (REDI)
Utah Governor's Office of Economic Opportunity (GOEO), Center for Rural Development · Utah
Utah businesses creating new high-paying jobs in rural counties can get up to $6,000 per position, capped at $250,000 a year.
Economic Assistance Grant (EAG)
Utah Governor's Office of Economic Opportunity (GOEO) · Utah
One-time, project-based grant from Utah's $4.5 million FY2026 legislative allocation supporting business, community-development, and infrastructure projects statewide.
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.