The Governor’s Office of Economic Opportunity is pleased to announce that MoFi and the Utah Microloan Fund are approved lenders in the Utah Small Business Credit Initiative (USBCI) Capital Access Program.
Capital Access Program loans are frequently less than $250,000 and help expand access to capital for Utah business owners, especially in underserved communities.
Here’s some information on the program’s newly-approved lenders:
MoFi is a nonprofit community development financial institution. Its mission is to provide financing and business consulting services that transform lives and communities.
“Since 1986, we have focused on one big goal: helping disadvantaged people access capital, build successful businesses, and, ultimately, access bank financing,” said Dave Glaser, president of MoFi. “MoFi is thrilled to partner with the state of Utah through the USBCI Capital Access Program to assist small businesses access capital to grow, create jobs, and boost local economies.”
Learn more at mofi.org.
Utah Microloan Fund
Since 1991, the Utah Microloan Fund helps make dreams a reality. It provides business training, mentoring, and microloans to Utah small business owners who are trying to start or grow their businesses.
“We focus on empowering underserved groups, including women, minorities, veterans, LGBTQ+, and rural areas,” said Doug Keefe, executive director of the Utah Microloan Fund. “This also includes individuals who are not yet citizens but have an individual tax identification number.”
Learn more at umlf.org.
Learn more about the Utah Small Business Credit Initiative, including $69 million in federal funding to expand access to capital for Utah small businesses, especially in underserved communities.