UTAH LEADS TOGETHER – STATE COVID-19 BRIDGE LOANS GO LIVE

April 3, 2020

On Tuesday, March 31, the Utah Leads Together Bridge Loan Program led by the Governor’s Office of Economic Development (GOED) went live, accepting applications for its first $4 million round of loans. The loans are targeted for small businesses with 50 or fewer employees who are experiencing financial hardship due to the coronavirus. Loan amounts can range from $5,000 to $20,000, with 0% interest for up to 60 months. For details on eligibility and to apply, visit the GOED website. The application deadline for this initial round of funding is today, Friday, April 3, with approximately 2,000 applicants expected.

“The Governor and his office of economic development, GOED, moved at lightening speed to provide this much needed relief to small business,” said Kelvyn Cullimore, president and CEO of BioUtah. “BioUtah will continue to work with our state leaders to ‘lead together” and come through this crisis stronger than ever.”

A second $4 million round of bridge loans will launch next week. GOED will announce when this second round of loans will become available, so be sure to check their website for timely updates.