COVID-19 Business Help
We would like to pass along information from the Governor and Salt Lake County and remind you that Bluffdale appreciates your business and we want to support you in any way we can. Just a reminder that we would like to promote your Bluffdale business on our “Shop Local Bluffdale” Facebook page. Please send your logo, promotional ad or other information for us to post. You can send that to Jen Morrill email@example.com. Please follow and like us https://www.facebook.com/shoplocalbluffdalecity.
*There is a FREE virtual session hosted by the David Eccles School of Business called “How to Save Your Business” on Friday, April 10, 2020 from 11-1. Register here: https://eccles.utah.edu/programs/executive-education/product/mikeleavitt/ along with continuing Tuesday and Friday meetings.
The following link is a list of economic recovery assistance for businesses https://slco.org/covid-19/economy/. SLCo has also setup a call center for those seeking more information at 385-468-4011.
Paycheck Protection Program
The Paycheck Protection Program (PPP) is a cornerstone of aid offered to provide small business loans on favorable terms to borrowers impacted by the current state of economic uncertainty. The demand for funding in this program will outstrip the supply, so it is imperative that businesses reach out to their banks this week to qualify for loans. Utah banks and credit unions are working around the clock to provide aid to small businesses.
More information can be found here: https://coronavirus.utah.gov/business/#federal-resources
The Utah Economic Response Task Force put together this FAQ: https://business.utah.gov/wp-content/uploads/2020/04/Utah-Economic-Response-Task-Force_Email2-1.pdf
Economic Injury Disaster Loan Program
The Small Business Administration’s Economic Injury Disaster Loan Program (EIDL) provides small businesses with working capital loans of up to $2 million to provide vital economic support to small businesses to overcome the temporary loss of revenue they are experiencing. All small business owners in Utah are eligible to apply for a low-interest loan.
More information can be found here: https://www.sba.gov/disaster-assistance/coronavirus-covid-19#section-header-3
Utah Leads Together Small Business Bridge Loan
The Utah Leads Together Small Business Bridge Loan provides short-term loans ($5,000 - $20,000) to businesses with 50 or fewer employees to bridge the gap until federal funding is disbursed. Applications for the first cycle of the Bridge Loan Fund are currently being evaluated. The next cycle for applications begins on April 13, 2020.
More information can be found here: https://coronavirus.utah.gov/business/
If you have questions regarding these different assistance programs, you can submit questions to https://wtcutah.formstack.com/forms/rapid_response_team_intake or contact the SBA disaster assistance customer service center by phone (1-800-659-2955) or by email firstname.lastname@example.org.