The Utah Governor’s Office of Economic Opportunity administers the USBCI, a statewide program designed to provide capital and technical assistance to Utah’s small businesses. This initiative is funded by the U.S. Treasury’s State Small Business Credit Initiative, part of the 2021 American Rescue Plan Act.
Program Goals:
- Expand Access to Capital: The USBCI aims to help small businesses, especially those in underserved communities, secure much-needed funding.
- Support Diverse Entrepreneurs: The program is committed to allocating 29% of funds to women-owned businesses and other underrepresented groups.
- Promote Economic Growth: By providing financial resources and technical assistance, the USBCI fosters business growth and stability, contributing to the overall economic health of Utah.
Who Can Benefit:
The USBCI is particularly beneficial for Utah small businesses that may face challenges accessing traditional bank loans due to:
- Limited equity
- Low credit scores
- Short time in operation
For more information on eligibility and application procedures, please contact the SBDC at (801) 593-2299 to determine the best funding options for your business, or visit the Utah Governor’s Office of Economic Opportunity website.