Return to the home page for BRAG - Serving Box Elder, Cache, and Rich Counties BRAG - Bear River Association of Governments
Main Office:
170 North Main

Logan, Utah 84321
(435) 752-7242

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BUSINESS SERVICES/FINANCING

~    COMMUNITY AND ECONOMIC DEVELOPMENT   ~


Return to the Home page of the Community and Economic Development Dept

CDBG
Agricultural Preservation
Bear River Heritage Area
Planning Assistance
Bonneville Shoreline Trail
Business Services/Financing
Demographics

                                                                                 Download Micro Loan Application HERE

  BRAG MICRO LOAN PROGRAM

Purpose

  • To assist individuals in becoming self-employed
  • To provide small loans to owner-operated businesses
  • Targets entrepreneurs who cannot otherwise acquire funding

Eligible Projects

  • Inventory and supplies
  • Machinery and equipment
  • Leasehold improvements
  • Working capital such as fees to obtain licensing, inventory, payroll, rent, utilities...

Terms of Loan

  • Maximum loan amount is $15,000
  • Maximum term is five (5) years
  • Interest rate is fixed at two (2) points above prime lending rate at the time of closing
  • 1.5% Loan Origination Fee

Micro-Loan Requirements

  • Individuals must meet moderate income guidelines
  • Businesses must have less than ten (10) employees
  • Completion of Business Plan for Success NX Level Training sponsored by US West, SBDC, BRAG, SBA, and USU Extension and College of Business
  • Submittal of a completed application which includes:
  • Business Plan
  • Personal financial statements
  • Resume of owner/manager
  • Vendor quotes on items to be purchased
  • References
  • Other items as requested
  • Verification that appropriate accounting systems are in place

 

                         Download Micro Loan Application HERE

 

 

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Human Services  |  Meetings, Notices, and News Administrative Department

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