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The Utah Small Business Credit Initiative (USBCI) is a new federal loan program. It includes $69 million in funding to expand access to capital for small businesses in Utah, especially for underserved communities.

The American Rescue Plan Act of 2021 authorized and funded the program. USBCI will help expand access to capital for small businesses emerging from the pandemic, create high-paying jobs, and build ecosystems of opportunity and entrepreneurship in Utah. We anticipate the program will stimulate up to $690 million of investment in Utah's small businesses due to its 10:1 private-public investment ratio.

Over the last year, Go Utah has worked to build partnerships between financial institutions, community partners, and government leaders to design an industry-friendly program that solves gaps in the capital access market and provides the best possible outcomes for small businesses in Utah.

We are grateful to the many community partners and small businesses who attended public meetings, met with our team, and communicated their experiences. The USBCI program design is the result of this strategic collaboration.

For more information about the program, visit the U.S. Treasury Department webpages, including:

  • General information
  • Allocation tables
  • Guidelines
  • USBCI for Tribal Governments

"Utah is the most pro-small business state in the country"

“Small businesses in Utah will soon have the opportunity to access capital through the state’s new State Small Business Credit Initiative (SSBCI) program,” writes Heather Beer for Utah Business magazine.

Best Economy

Utah ranked the nation’s best economy and No. 3 Best State overall

U.S. News & World Report — July 2022

Best Economic Outlook

Utah ranked No. 1 for the 15th year in a row

Rich States Poor States — April 2022

    How Does USBCI Work?


    The program works through financial institutions providing small Utah businesses with non-forgivable loans. Small businesses interested in this program should apply through a USBCI-enrolled lender.

    USBCI includes three lending programs:

    Equitable Access to Capital

    The USBCI program will expand access to capital for Utah business owners in underserved communities, with a target of 29% of program funds allocated to businesses owned by women and culturally, economically, and geographically diverse entrepreneurs.

    USBCI partners with Utah’s 1,000 New-Women Owned Businesses initiative to inspire women and those who identify as women to launch new businesses and apply for capital.

    Community Engagement

    Go Utah holds regular USBCI community partner meetings to gather input to maximize the program’s success. If you're interested in these meetings, please get in touch with Alecia Hart at

    USBCI Office Hours

    Do you have questions about which USBCI program is right for you? Unsure of how to approach a lender? Join USBCI office hours every Wednesday from 2-3 p.m.

    Email to register and receive the virtual meeting link.

    Stay Connected

    Want to stay connected to all things USBCI? Sign up for the USBCI newsletter and be the first to know when new funding opportunities are available.