About this programme
The Utah Small Business Credit Initiative (USBCI) is run by the Utah Governor's Office of Economic Opportunity (GOEO). It partners with local lenders and Economic Development Organizations (EDOs) to expand access to capital for small businesses that have limited equity, lower credit scores, or a short operating history.
GOEO projects a 10-to-1 economic impact from the program, potentially drawing in around $690 million in private investment across the state. USBCI runs from 2023 to 2030.
How it works
The Loan Participation Program (LPP) gives businesses reduced interest rates on collateralized loans. The state blends a government-backed rate of 0.5% to 3% with the lender's standard rate, and the state purchases up to 40% of a qualifying loan. LPP loans range from $10,000 to $20,000,000, and target businesses with fewer than 750 employees.
The Capital Access Program (CAP) works as a loan loss reserve, giving lenders protection so they can lend to businesses with minimal collateral. CAP loans range from $25,000 to $5,000,000, and target businesses with fewer than 500 employees.
A Technical Assistance Grant Program also offers legal, accounting, and financial advisory services alongside the lending programs.
Who can apply
For the Loan Participation Program, the business must have fewer than 750 employees.
For the Capital Access Program, the business must have fewer than 500 employees and typically has limited collateral to offer.
In both cases, the business applies through an enrolled bank or Economic Development Organization, not directly to the state.
How to apply
- Identify a USBCI-enrolled bank or Economic Development Organization (EDO).
- Submit your loan application directly through that partner bank or EDO.
- Prepare a business plan, financial projections, tax returns, collateral information (for LPP), and be ready for a credit evaluation as part of the lender's review.
Frequently asked
Do I apply to the state of Utah directly?
No. You submit your application through a USBCI-enrolled partner bank or Economic Development Organization, not directly to GOEO.
What is the difference between LPP and CAP?
LPP blends a government-backed rate (0.5% to 3%) with the lender's rate and has the state buy up to 40% of the loan, for businesses under 750 employees and loans from $10,000 to $20,000,000. CAP is a loan loss reserve for businesses with minimal collateral, for businesses under 500 employees and loans from $25,000 to $5,000,000.
How long does the program run?
Both the LPP and CAP programs operate from 2023 to 2030.
Is there help beyond financing?
Yes, a Technical Assistance Grant Program offers legal, accounting, and financial advisory services alongside the lending programs.
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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.