20254th Quarter–October1toDecember31,2025
ThisreportoutlinestheUtahSmallBusinessCreditInitiative’s(USBCI)2025fourthquarter (Q4)activities,detailingprogressinsupportingUtah’ssmallbusinessesandfostering economicgrowth,asrequiredbytheU.S.Treasury’sStateSmallBusinessCreditInitiative (SSBCI)program.
AdministeredbytheUtahGovernor’sOfficeofEconomicOpportunity(GOEO),USBCI providescrucialcapitalaccessthroughitstwoU.STreasury-approvedloanprograms:the CapitalAccessProgram(CAP)andtheLoanParticipationProgram(LPP).Theprogram’score missionistodirectcapitaltobusinessesacrossUtah,focusingonrural,underservedmarkets andcommunitieslackingadequatecapitalaccess
Q42025ProgramHighlights
Thefourthquarterof2025markedsignificantachievementsforUSBCIinsupportingsmall businessesstatewide:
● CapitalDeployed:$6 8millioncommittedacross9smallbusinessloans,addressing diversefundingneeds
● JobCreation&Retention:USBCIfundingledtothecreationof157newjobsandthe retentionof323existingjobs,foratotalimpactof480jobs.Onaverage,eachnewjob createdcorrespondedtoapproximately$43,025infunding
● StrategicPartnerships:Expandedloanaccessstatewidethroughcollaborationswith fiveeconomicdevelopmentorganizations(EDOs)and17locallendingpartners
● GeographicImpact:Capitaldistributionsupported5Utahcounties:Davis,SaltLake, Sanpete,Utah,andWashington
● IndustryDiversification:LoancommitmentsduringQ4supportedarangeofsectors:
● PersonalandHouseholdGoodsRepairandMaintenance:62%
● DentalPracticioners:17%
● ElementaryandSecondarySchools:11%
● Management,Scientific,andTechnicalConsultingServices:3%
● SportsandRecreationInstruction:3%
● Transportation,Glass,andSpecializedDesignServices:4%
● LoanMetrics:Theaverageloansizewasapproximately$750,550,withthelargest singlefundingcommitmentat$4.2million
● OperationalEfficiency:Deliveredinitialcommitmentstolendingpartnerswithin elevenbusinessdaysandfundedthosecommitmentswithin48days
TheUSBCIteamapprovesloansupto$1million;requestsabovethatarereviewedbythe USBCIloancommittee
TranchePerformance&Allocations
InQ4,USBCIsuccessfullydeployednearlythree-quartersofTranche2,totaling$23 5million, prioritizingjobcreationandsupportingSociallyandEconomicallyDisadvantagedIndividuals (SEDI)andVerySmallBusinesses(VSBs).
AsofDecember31,2025, approximately$16.6million(70.8%) ofTranche2hadbeenexpended, and$2.7million(11.5%)hadbeen committed,leaving$4.5million (17.7%)availablefordisbursement. Intotal,$19.4millionhadbeen committedorexpendedoutofthe $23.5millionofTranche2.
USBCIhasnowdeployed59%ofUtah’stotalfederalallocationof$69million.Whilewefinish distributingtheremainingTranche2capital,wearealreadylookingahead asofQ42025, wehavesubmittedourrequestforTranche3,totalingapproximately$24million
ImpactonUnderservedBusinesses
Ourcommitmenttoequitableeconomicgrowthyieldedspecificresultsforunderserved communitiesinQ42025:
● Socially&EconomicallyDisadvantagedIndividuals(SEDI):$1 9millioninloanswas directedtoSEDIbusinesses
● VerySmallBusinesses(VSBs):Approximately$1 2millionwasallocatedto businesseswithfewerthan9employees
TechnicalAssistanceProgram(TAP)
DuringQ4,USBCIfinalizedoperationsandstandardsfortheStateofUtah’sTechnical AssistanceProgram(TAP)andpartneredwiththreekeyproviders:SuazoBusinessCenter, theWomen’sBusinessCenterofUtah,andSmallBusinessConsulting.Backedby$1.2million fromtheU.S.Treasury,thisinitiativeexpandsourreachbyprovidingessentialfinancial, accounting,andlegalservices.Byofferingupto$2,000perbusinessforadvisoryservices, theprogramensuresapplicantsarewell-preparedforUSBCIorsimilarlendingopportunities, strengtheningthefoundationforsmallbusinessesstatewide.
LookingAhead
Followingourrequestforthenextandlastfundingphaseofapproximately$24million,we anticipatethereleaseofthesefundsinQ12026,pendingaU.S.Treasuryperformanceaudit. Simultaneously,TechnicalAssistance(TA)servicesofficiallylaunchonJanuary1,2026.Our networkofprovidersisreadytoofferexpert,specializedsupporttoentrepreneursacross everyindustryandcornerofthestate.Aswemoveforward,USBCIremainscommittedto identifyingnewopportunitiestodrivesustainableeconomicdevelopmentandjobcreation throughoutUtah
ForMoreInformation
ContactUSBCIforanyquestionsorfeedback:
Website: business utah gov/usbci
Email: usbci@utah gov
Phone: 801-538-8680
SocialMedia: @BusinessUtah
ProgramAllocation
* ThetotalrepresentstheSSBCIdistributionthatcouldbereceivedfromtheU.S.TreasurytoUSBCIifthe programmeetstherequirementsofeachfundingtranche.
^ Thisquarter,aloancommitmentpreviouslyreportedinQ32025waslaterwithdrawnduringQ42025.
ProgramIncome
