Utah Small Business Credit Initiative Loan Participation Program (LPP) Policy — Revised November 19, 2025
1. Program Overview The American Rescue Plan Act of 2021 (ARPA) reauthorized and amended the Small Business Jobs Act of 2010 (SBJA) to provide $10 billion to fund the State Small Business Credit Initiative (SSBCI) as a response to the economic effects of the COVID-19 pandemic. SSBCI is a federal program administered by the Department of the Treasury (Treasury) to strengthen state programs that support private financing to small businesses. In conjunction with new small business financing, it is expected to create billions of dollars in lending and investments to small businesses that need more support to expand and create jobs. The Utah Small Business Credit Initiative Loan Participation Program (USBCI LPP) assists existing Utah businesses that need additional borrowings to stabilize, pivot, expand, or restart their business and help new Utah businesses enter the market. The USBCI LPP will partner with “Economic Development Organizations (EDOs)” throughout the state to identify small businesses in their regions that could benefit from the program. Note: Words in quotation marks, such as “EDOs” above, are defined in the appropriate section or section 21, starting on page 8 of this document.
2. Program Objectives ● Assist in financing small businesses that cannot access credit (i.e. unbankable loans) on reasonable terms. ● Expand access to capital and provide opportunities to rural, disadvantaged, and underserved entrepreneurs to create new businesses. ● Partner with various community and professional organizations to expand access to capital. ● Expand jobs and economic opportunities in Utah’s rural counties and Native American nations in the state.
Revised: 11/19/2025