Utah small business grants, loans and training funds (2026)

Utah’s 2026 programs, sorted by who gets the money

• Your lender (you repay): USBCI’s Loan Participation Program and Capital Access Program, plus Utah Rural Jobs loans from private rural investment companies ⁠¹⁠⁸.
• Your training provider (you pay a share): Custom Fit, run by technical colleges and campuses county by county ⁠⁵.
• You, after you perform: REDI for new rural jobs, UTIF for SBIR/STTR proposals, and STEP for export costs you have already paid ⁠⁷⁠⁹⁠¹⁰.
• Organizations, not startups: the Economic Assistance Grant offers up to $200,000 to Utah businesses that provide services tied to the state’s five targeted industries. Its 2026 window ran Sept. 15-30, 2026, and is closed ⁠⁴.

The agency’s name has changed. GOED’s September 2026 pages call it the Governor’s Office of Economic Development, while its May 2026 pages still said Governor’s Office of Economic Opportunity ⁠¹⁠⁷. Treasury’s SSBCI contact list routes both Utah programs to a utah.gov contact at the state’s implementing entity ⁠².

How USBCI turns $69 million into lower-rate loans

Treasury allocated Utah $69,006,000 under SSBCI. By Dec. 31, 2025, Utah had received $44,833,178 and deployed $41,922,207, which is 60.8% of its total allocation ⁠³. Treasury’s August 2026 contact list shows two active Utah programs, the Loan Participation Program and the Capital Access Program ⁠². GOED says at least 29% of USBCI funds go to women-owned businesses, rural enterprises and owners who face geographic, cultural or economic barriers. The programs are still open to any qualifying Utah small business ⁠¹.

USBCI will not refinance existing debt ⁠¹. Expect to give the lender a business plan, financial projections, recent business and personal tax returns, and your credit history, and to sign USBCI eligibility certifications at the bank ⁠¹.

GOED’s directory lists 17 LPP lenders. They include Accordia Bank (Utah and Washington counties), Altabank, Bank of Utah, Cache Valley Bank, First Utah Bank and Utah First Federal Credit Union (statewide), State Bank of Southern Utah, and nonprofit lenders such as Mountain West Small Business Finance and the Davis County Council of Governments. Only four lenders offer CAP: Desert Rivers Credit Union (southeastern Utah), MoFi, Suazo Business Center and Utah Micro Loan Fund ⁠¹.

USBCI also funds technical assistance, which is low-cost rather than free. SBC Consulting, Suazo Business Center and the Women’s Business Center of Utah offer legal, accounting and financial advisory help to loan applicants with fewer than 10 employees, or whose owners are at least 51% socially and economically disadvantaged individuals ⁠¹.

Custom Fit: training money that runs through your county’s college

Custom Fit has trained Utah workers for more than 40 years. The Legislature appropriates its funding each year ⁠⁵. It covers training for current employees only, at for-profit companies located in Utah. Nonprofits need special approval and must show significant economic impact. The company pays at least 40% of the cost, and the exact split depends on each provider’s funding and regional priorities ⁠⁵. At Southwest Technical College, for example, Custom Fit reimburses up to 40% of approved training costs. You pay the full bill up front, apply before each training, and submit proof of payment, attendance and a W-9 within 30 days of finishing ⁠⁶.

REDI and Utah Rural Jobs outside the Wasatch Front

REDI pays up to $6,000 for each new position. The amount depends on where the employee works and whether they live in a rural area ⁠⁷. Rural counties qualify, as do towns of 10,000 or fewer people in Davis, Utah and Weber counties (for example Fruit Heights, Cedar Hills and Plain City). Every Washington County town except St. George also qualifies ⁠⁷. Each new position must be full time, last at least 12 consecutive months and pay at least 100% of the county’s average wage. Businesses mainly in construction, retail, staffing or public utilities are excluded, and one business can receive up to $250,000 a year ⁠⁷. You must apply and be approved before you create the jobs. The 2026 windows were Feb. 1-15, May 1-15 and Aug. 1-15, and the last one is Nov. 1-15, 2026 ⁠⁷.

Utah Rural Jobs is not a grant. Approved rural investment companies lend up to $5,000,000 to businesses in rural counties. Eligible industries include aerospace, agribusiness, energy, IT, life sciences, manufacturing, outdoor products and software ⁠⁸. A business must have fewer than 150 employees and less than $10 million in net income in the prior tax year, and 60% of its employees must be in Utah. Startups can apply. You negotiate the terms directly with the investment company, not with the state ⁠⁸.

SBIR/STTR help: UTIF and Nucleus Grow

Utah’s SBIR/STTR support now runs through Nucleus Grow, the SBIR/STTR resource partner of the Nucleus Institute. Its consultations, proposal reviews and editing are free to Utah businesses ⁠⁹. The state-sponsored Utah Technology Innovation Fund adds two kinds of money:

• Microgrant: $3,000, or $5,000 for a rural business, paid after you submit a Phase I SBIR/STTR proposal. Each company gets one. A company that has won a Phase I award in the last five years is not eligible ⁠⁹.
• Nonrecourse loan: $50,000, or $60,000 for a rural business, to bridge from a Phase I award to Phase II. It is paid after you submit the Phase II proposal, with a limit of two per company ⁠⁹.

Before you apply, register with SAM.gov, SBIR.gov and the Utah Division of Corporations. Submit through GOED’s portal at least four weeks before the federal deadline, and get Grow’s pre-approval before you send the federal proposal ⁠⁹. Funding depends on what is available ⁠⁹. Nucleus reports that federal agencies began posting SBIR/STTR solicitations again after the April 2026 reauthorization ⁠⁹.

STEP export grants through World Trade Center Utah

World Trade Center Utah runs the SBA STEP grant with GOED. Awards vary by activity, and every award requires a 25% cash match from the business ⁠¹⁰. The grant can cover economy airfare and per-diem costs for foreign sales trips, trade show booths and registration, website translation and localization, export training, compliance testing and sample shipping. It does not cover the WTC Utah booth fee at state-hosted shows ⁠¹⁰. To qualify, your business must be for-profit, registered and operating in Utah for at least one year, and have at least one full-time employee. It must also be export-ready with goods or services that are U.S.-origin or at least 51% U.S. content, and less than 49% foreign-owned. Consulting firms, law firms, real estate developers, nonprofits and multilevel marketing companies are excluded ⁠¹⁰. Upcoming STEP-eligible events include ISPO in Amsterdam (Nov. 3-5, 2026) and Web Summit (Nov. 9-12, 2026) ⁠¹⁰.

Salt Lake City’s loan fund and programs that are closed

• Salt Lake City Economic Development Loan Fund (repayable loan). Startups up to three years old can borrow up to $100,000, and existing businesses up to $350,000. Microloans of $25,000 or less are also available, with terms of 6 months to 7 years. Rates start at the 6.75% prime rate and can reach prime plus 8%. There is a $120 application fee, and the business must be inside city limits. The interest form is closed, and the city says to check back in February 2027 ⁠¹².
• Air & Water Innovation Grant. Its funding has been spent, and GOED lists the program as closed ⁠⁴.
• Utah Manufacturing Modernization Grant. GOED lists it under previous grants, with opening and closing dates “TBD” ⁠⁴.
• Rural Communities Opportunity Grant and Rural County Grant. These go to rural counties, cities and towns, not to private businesses ⁠⁴.

Step by step: working a Utah funding request

1. Start with the Utah SBDC

   Advising is free and confidential. In 2025 the network served 3,526 clients and helped launch 352 businesses ⁠¹¹. Bring your plan, your projections and the amount you need.

2. Match your need to a program

   Equipment, real estate or working capital points to a USBCI loan. Training current staff points to Custom Fit. Rural hiring points to REDI, R&D to UTIF, and foreign sales to STEP.

3. Call a USBCI lender that serves your area

   Pick one from GOED’s directory and ask for a USBCI-backed loan. Choose LPP if you have collateral, or CAP if you lack it ⁠¹. The lender underwrites the loan and enrolls it.

4. Ask about USBCI technical assistance if you qualify

   Businesses with fewer than 10 employees or disadvantaged owners can get low-cost legal and accounting help to become loan-ready ⁠¹.

5. Contact your county’s Custom Fit provider before training starts

   Training paid for before approval is not reimbursed ⁠⁶.

6. File REDI during the Nov. 1-15, 2026 window, before you hire

   Use GOED’s portal and document each job’s wage against the county average ⁠⁷.

7. For SBIR/STTR, book a Nucleus Grow consultation early

   Finish your registrations and apply for UTIF four or more weeks before the federal deadline ⁠⁹.

8. For STEP, run the eligibility check first

   The check takes about two business days. Apply at least 15 business days before the trip or show, and submit forms and receipts within 30 days afterward ⁠¹⁰.

9. If you are turned down, try the next option

   A USBCI decision is a credit decision, and another enrolled lender may approve you. REDI and UTIF reopen on fixed cycles. Ask the SBDC what to change before you reapply.

Compare Utah with other states on the small business grants hub.