The second tranche of the Utah Leads Together Small Business Bridge Loan for entities impacted by the COVID-19 pandemic will accept applications from April 13, 2020, at 8 a.m. to April 16 at noon (MDT). During round two, loan applications will be accepted from Utah small businesses and Utah 501(c)3 nonprofit organizations. Nonprofits were not included in tranche one. The eligibility requirement of 50 or fewer employees applies to both small businesses and nonprofits.
Eligible, but unsuccessful round one completed applications are automatically considered for round two funding. Applicants that were determined to have insufficient documentation in round one can provide additional information to be considered eligible for round two. There’s no need to reapply, but reviewing and adding supplemental information in the application portal is encouraged.
GOED will determine the eligibility of all bridge loan applicants. Applying is not a guarantee of funding. Preference for funding will be given based on specific criteria available online. Learn more about the Utah Leads Together Small Business Bridge Loan program criteria, eligibility and required information here.