Small Business Owners Assistance – Funds and Programs in Utah
We wanted to provide our small business owners some updated information about Funds and Programs being offered right now in Utah. Additionally, with funding from the Federal CARES Act, the Salt Lake Region Small Business Development Center (Salt Lake SBDC) has retained the services expert business professionals. These experts will focus on providing business recovery services to Salt Lake and Summit County area small businesses that have been negatively impacted by the COVID-19 pandemic. Providing one-on-one virtual and in-person consulting in the areas of operations, finance and marketing, these professionals will help small businesses build back to their pre-COVID crisis levels and continue to grow from there. In addition, they will train businesses on how to be prepared for future crises, which are myriad.
Here are some of the programs currently being offered:
Shop In Utah
The Shop In Utah grant received an additional $30 million–$20 million in federal CARES Act funds and $10 million of the initial ComRent appropriation. To qualify for the Shop In Utah grant, an organization must be negatively impacted by the COVID-19 pandemic and offer a discount of 50% of its grant amount to customers.
**Many businesses across the state have been awarded the Shop In Utah grant funds. Click here to view the offers, Feel free to share and encourage your friends to support these and other businesses.
Commercial Rental Assistance Program
Commercial Rent Assistance Program (ComRent) was modified and is NOW OPEN:
• Allows for mortgage payments
• 2 – 3 months of rent with of cap of $5,000 per month
• Small businesses with up to 150 full-time employees
• Includes startup businesses that began after March 1 that show a net loss
Safe In Utah
Safe In Utah per-employee grant cap was raised from $100 to $250 for each employee, or for the business entity’s actual or anticipated expenses—the lesser of the two.
**$3.9 million remains to be dispersed.
