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Tourism partners:
Good news. A Utah Leads Together Small Business Bridge Loan program was launched today by the Governor’s Office of Economic Development.
Qualified small businesses can secure up to $20,000 of interest-free COVID-19 relief within about one week. This will help bridge the gap before larger loans come through from the Small Business Administration.
Be safe and steady,
Vicki
Vicki Varela
Managing Director
Utah Office of Tourism
801-538-3395 | vvarela@utah.gov
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Utah Leads Together
Small Business Bridge Loan Program
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Beginning March 31, Utah-based small businesses with 50 or fewer employees impacted by the COVID-19 pandemic may apply for a new bridge loan program offered by the Utah Governor’s Office of Economic Development (GOED).
The Utah Leads Together Small Business Bridge Loan program uses approximately $8 million in repurposed state economic development funds. Additionally, the Utah Department of Workforce Services has contributed $500,000 to the program.
Loan amounts range from $5,000 to $20,000 with 0% interest for up to a 60-month period. Loans cannot exceed three months of demonstrated operating expenses. Loan payments are deferred for 12 months, and GOED will use at least 25% of the program funds to support rural Utah businesses.
See full criteria, eligibility and requirements in the link below.
Utah small businesses can apply for the Utah Leads Together Small Business Bridge Loan starting on March 31, 2020.
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Resources
State of Utah Resources for Business
- Collected federal, state and local resources, news and best practices
- Utah Leads Together: A Plan for a Health and Economic Recovery
Utah Office of Tourism COVID-19 Toolkit
- Details about industry assistance programs such as SBA Coronavirus Loans, employment, child care and food assistance.
- Talking points, social media best practices, customer inquiry responses.
The state of Utah’s Coronavirus (COVID-19) information hub.
U.S. Department of Health and Human Services Centers for Disease Control Travel Health Notices and COVID 2019 Information for Travel
If you’re worried about whether you may have COVID-19, please call the Utah Coronavirus Information Line at 1-800-456-7707
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