WaFd Bank

The WaFd Bank is offering a revolving five year line of credit. Approval is subject to annual revenue and the maximum available is $200,000. Please contact your local branch for more information.

Requirements:

  • Businesses who have a 10% or greater drop in revenue

To apply visit, https://www.wafdbank.com/business-banking/coronavirus-business-line-of-credit

SBA Economic Injury Disaster Loan (EIDL) and Physical Disaster Loan

Federal loan available to Utah residents. More details on the loan provided at the top of the page. For more info please visit

UT 16338-02 SBA Amends Disaster Declaration: Disaster Assistance Now Available to all Utah Small Businesses Economically Impacted by the Coronavirus (COVID-19)

SBA (7a) Paycheck Protection Program 

The PPP provides small businesses with funds to pay up to 8 weeks of payroll costs,  or other related costs such as group health care benefits during periods of paid sick, medical or family leave, and insurance premiums.  In addition, the capital can also be used to pay interest on mortgages, rent and utilities and interest on payments on any other debt obligations that were incurred before February 15, 2020.

Businesses interested in applying are encouraged to consult with their business bank first. For more information on local SBA lenders closest to your location, please visit their website.