The purpose of this loan program is to provide financial relief to small businesses that will most likely see a downturn in business due to an unforeseen emergency. The program is intended to help businesses keep their employees and stay afloat during a time of economic hardship. It is meant to bridge the gap for what may be a shortened financial hardship period.
The city aims to provide as much relief as possible, but loan approvals will be limited during a high-volume application period. If the business owner should need further financial assistance in the form of a larger loan and payback period, they will be directed to the U.S. Small Business Administration’s Economic Disaster Assistance Program.
We’re encouraging businesses to apply for this funding to help make payroll, to pay bills and to keep their operations going (available later this week). The application will be open until Monday, March 23rd at midnight. We will evaluate completed applications only. Applications will be reviewed based on the criteria below.
STEP 2: Fill out all required information and sign the document. Email document with required attachments to ELP@slcgov.com. At this time we are only accepting emailed requests.
STEP 3: Application period closes on Monday, March 23rd, at midnight. You will be notified of your approval/denial within 2-3 days after application closes.
A loan officer is available to answer your questions. They can be reached at ELP@slcgov.com.