Utah Small Business Credit Initiative Unlocks $24.1 Million in Final Tranche of Funding

The Utah Governor’s Office of Economic Development (GOED) has officially transitioned to the third and final funding tranche under the Utah Small Business Credit Initiative (USBCI). Effective October 1, GOED completed the full deployment of its first two Tranches, injecting $44.8 million directly into small businesses across Utah. Building on this momentum, Tranche 3 unlocks an additional $24.2 million in available capital.

The U.S. Department of the Treasury approved GOED for Tranche 3 funds in Q1 2026, after Tranche 2 reached the required 80% deployment and the application was formally submitted.

Since its launch, USBCI has supported Utah small businesses across every stage, size, and industry. Funded by the U.S. Treasury’s State Small Business Credit Initiative (SSBCI), the program strengthens local lending markets by partnering directly with banks, credit unions, and Community Development Financial Institutions (CDFIs) to lower interest rates, reduce lender risk, minimize collateral requirements, and expand access to capital.

With Tranche 3 now active, local businesses can continue to access capital through two primary loan options:

1. Loan Participation Program (LPP): Helps small businesses secure lower blended interest rates by allowing the state to purchase up to 40% of standard business loans.
2. Capital Access Program (CAP): Provides portfolio loan coverage that enables participating lenders to ease credit standards and minimize collateral requirements for entrepreneurs.

USBCI funding is distributed through GOED’s network of enrolled banking partners. Small-business owners seeking capital should contact a participating lender directly.

Visit business.utah.gov/usbci to learn more about the USBCI program guidelines.

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