There are a number of loan as well as free grant programs for both women as well as minority owned or run businesses in Utah. Small and mid-size business owners can get funds from banks, the government, non-profits or charitable endowments as well as other lenders. Find a list of Utah loan as well as free grant programs below near you. Women owned companies, minority businesses (including Black, LGBTQ, or Latinos) as well as other disadvantaged businesses in Utah can get funds to help them grow.
The funds often go quickly. The list of loans and free grants in Utah below will be updated daily. Each lender will have their own application process, and funds may be targeted at minorities, women, veterans, or other business owners. It is always recommended to apply quickly. While most the free financial assistance and support is for businesses located in Salt Lake City or Provo, resources are offered statewide.
The loans and/or grants may be used by entrepreneurs or small business owners to help them grow. With minorities as well as women owned (or run) companies often faced with funding challenges, these Utah programs and lenders can assist.
Small business loans and free grants in Utah
Below is a list of grants and loans for Black, Latino, women owned or other minority businesses in Utah. It is updated daily with the newest announcements at the top of the list. Find more details below on the lender that is issuing funds or how to get financial assistance, a loan or free grant for your business.
Year round financial assistance, free grant and loan programs
Black women owned businesses in Utah can apply to the NewPattern Coalition. Tech companies and other business leaders in Utah have created this service in order to help black female business owners as well as entrepreneurs. Note only grants be given out, but there are free mentoring programs, coaching from successful business people from all races, fundraising courses, and networking events among other assistance programs. It is for black women. Read more or apply. https://newpattern.org/utah/
The Everyday Entrepreneur Program at Salt Lake Community College helps start ups as well as entrepreneurs. Both students and Salt Lake County residents can use the non-profit. Either grants or low cost loans will be issued. The program also helps students and members of the community, including women and minorities, create business plans, develop marketing plans, set up websites and all other aspects of starting a business. Find details here. https://themillatslcc.com/
Salt Lake City Minority Business Center has a number of programs for businesses owned by people of color, LGTBQ+, and women. Also entrepreneurial services and well as support for existing businesses is provided. The location is the Salt Lake Community College’s Miller, and get information on free grants, mentoring or coaching, use of center resources and learn about raising capital. Get details here. https://utahmbdabusinesscenter.com/
Salt Lake City and Ogden UT minority owned businesses can get help from the Suazo Business Center. A number of resources are offered, with a focus on financing and free coaching for Black women and Latina owned businesses. There are low cost micro-loans, courses and workshops on how to start or grow a business, legal support and much more. Read more here. https://www.suazocenter.org/
Utah Hispanic Business Academy helps Hispanic and Latino entrepreneurs as well as immigrants. Get help with creating a business, planning, finances and pro-forms, legal aid and more. The Academy will also try to help Hispanic start ups get the financial help they need, whether loans, grants, equity or something else. Get more details on the Utah Academy here. https://www.utahhccnegocios.com/en/business-academy/
Women’s Business Center of Utah offers financial help in the form of loans (including SBA backed), referrals to grant programs, mentoring, coaching from female business owners, technical help and other assistance. They focus on women-owned small businesses and entrepreneurs, including Black, LGBTQ, veteran and Latina among others. There are also in person work shops at the Salt Lake City as well as Cedar City based centers, online courses, Kiva microloans and so much more. Find details here. https://wbcutah.org/
October and November 2022
Black-owned businesses in Utah can get free $500 grants from an assistance program run in partnership of the Mountain America Credit Union as well as the Utah Black Chamber. Dozens of grants will be given away over the next several months. There will be criteria needed including pitches, presentations, business plan development and more. Find details on black owned business grant programs here. https://uaacc.org/
February and March 2022
$1000 grants are being provided to a small number of women owned businesses in Utah. It is available statewide. The Women’s Business Center of Utah, also known as WBCUtah, is providing the financial help. The free grants will be provided along with other support – such as a listing in a directory, coaching and marketing help, free publicity and other services. Apply here. https://kingsumo.com/g/vcax2s/womens-business-center-of-utah-utah-women-owned-grant-giveaway
August 2020
Underserved businesses across Utah can get financial help or advice from the Utah Microloan Fund. Funds are for new or existing businesses, whether owned by the disabled, women or color, Latinos, or other minorities. Up to $50,000 can be offered to each client. Find details https://www.utahmicroloanfund.org/
July 2020
Salt Lake County is giving away $35 Million for small businesses. Agencies are also working to help the Latino/Hispanic and other underserved communities get access to the free grant monies. Much of funding is offered in partnerships with non-profits, such as the Suazo Business Center. Loans and grants are combined with advisory services, counseling and other help. Read more here. https://suazocenter.org/
By Jon McNamara
