Utah Microloan Fund

What the Utah Microloan Fund does

The Utah Microloan Fund (UMLF) is a nonprofit and a certified Community Development Financial Institution (CDFI). Since 1991, it has given small business loans, advising, and training to Utah owners who have trouble getting a bank loan. The U.S. Small Business Administration has named it Microlender of the Year.

UMLF is a good fit if you:

1. are starting a business and don't have a long operating history
2. own a business that is ready to grow
3. have been turned down by a bank, or need a smaller loan than banks usually offer
4. have limited collateral, a thin credit history, or past credit problems
5. can show, through a business plan and cash flow projections, how the business will repay the loan

UMLF looks at the whole picture: your business plan, your cash flow, and your character, not only your credit score. It also runs the Banking on Women program for women entrepreneurs.

Requirements to apply

1. You live in Utah and have a registered Utah business (or will soon).
2. You have an open business checking account at a bank or credit union.
3. You have no active bankruptcy in the last 12 months, and a plan for any late payments or delinquencies.
4. You work with a business advisor, such as the Utah SBDC or the Women's Business Center of Utah. Both are free.
5. Collateral isn't always required, but it helps. UMLF may ask for a co-signer if it is not comfortable with the collateral offered.

How to apply

1. Attend loan orientation: Required. It is held online every Tuesday at 9 a.m., and you can ask the loan officer your questions. Sign up here.
2. Work with a business advisor: Meet with a free advisor at the Utah SBDC or the Women's Business Center to shape your plan and numbers.
3. Fill out the inquiry form: Tell UMLF about you, your business, and the funding you need. They will then give you access to their online application system. Find the form.
4. Submit your application: Include your tax returns, financial information, business plan, and cash flow projections, plus the $50 application fee. UMLF offers a business plan template, a cash flow template, and a checklist on its loans page.
5. Present to the UMLF team: A 30-minute video meeting where you explain your business and how the loan will help it grow.
6. Close your loan: If you are approved, funds typically arrive about one week after you send the closing documents.

Contact the Utah Microloan Fund

Visit or Call

154 E Ford Ave, Suite A

Salt Lake City, UT 84115

Phone: (801) 746-1180

Hours: Monday to Thursday, 9 a.m. to 5 p.m. (closed Friday)

Online

utahmicroloanfund.org

Frequently asked questions

Facebook and LinkedIn

Loan amounts, rates, terms, and approval depend on each applicant and business, and UMLF may change them. Details on this page come from utahmicroloanfund.org and were last checked in October 2026. Always confirm current terms with UMLF.