Utah Microloan Fund

What Utah Microloan Fund does

Utah Microloan Fund (UMLF) is a 501(c)(3) nonprofit Community Development Financial Institution (CDFI) founded in 1991 and headquartered at 154 E Ford Ave Ste A, Salt Lake City, Utah. It operates as a "lender of last resort" providing SBA-backed microloans and complementary business education to Utah entrepreneurs who cannot qualify for traditional bank financing due to poor credit, insufficient collateral, limited operating history, or prior declines. Loan terms are fixed at 10-14% interest with up to 6-year durations, a $50 application fee, no prepayment penalties, and use cases spanning working capital, equipment, inventory, property improvements, and business purchases.

The core product is the SBA Microloan, processed through a third-party Lenderfit online application platform and gated by a mandatory virtual loan orientation held every Tuesday at 9am. Around the loan product, UMLF operates free business education classes (live virtual sessions and a digital Class Library) and the trademarked "Banking on Women" 15-week entrepreneurship program, the latter co-delivered with Westminster University faculty and fully underwritten by Synchrony Bank scholarships. Adjacent support includes COVID-19 resources, a small-business resource portal, and referral-based advising partnerships with the Small Business Development Center (SBDC) and the Women's Business Center of Utah.

UMLF's revenue model is a hybrid: loan interest and fees cover approximately half of operating costs, with the remaining half funded by contributions from government (SBA, CDFI Fund), foundations (GS Eccles), and a multi-bank sponsor base including Zions, Chase, Wells Fargo, Synchrony, and Mountain West Small Business Finance. The organization employs roughly seven full-time staff (Executive Director, Programs Manager, Accounts Manager, Loan Officer, Finance Manager, Underwriter, and Banking on Women Program Director) and serves borrowers statewide in Utah through both virtual and in-person channels.

Name

Utah Microloan Fund

Legal name

Utah Microloan Fund

Website

https://utahmicroloanfund.org

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1–10 employees

Short description

Utah Microloan Fund is a nonprofit CDFI founded in 1991 that provides SBA-backed microloans (10-14% fixed rates, up to 6-year terms) and business education to underserved Utah entrepreneurs who cannot access traditional bank financing.

Ownership category

akta.pro rank

Product category

Microfinance / Community Development Lending

NAICS

Sales Financing (52222)

SIC

Miscellaneous Business Credit Institution (6159), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Microloans & Working Capital Loans (FSAKAGAA)

akta.pro secondary industries

SBA/Government-Backed & Development Finance Loans (FSAKAGAI), Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

Keywords

• Microfinance lending
• SBA microloan program
• Small business education
• Community development lending
• Entrepreneurship training

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Loan Interest and Fees: UMLF earns revenue from interest and fees on microloans. Since their purpose is community impact rather than profit, this revenue covers about half the cost of running their programs. Their remaining operation costs are covered by contributions from government, foundations, banks and other philanthropic donors.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Utah Microloan Fund is a non-profit Community Development Financial Institution (CDFI) that provides SBA-backed microloans (fixed 10-14% interest rates, up to 6-year terms) and complementary business education to Utah entrepreneurs who cannot qualify for traditional bank financing. It operates as a lender of last resort, weighing business plans and personal character alongside credit history, and supplements lending with free classes, a class library, and the Banking on Women 15-week program.

Product overview

Utah Microloan Fund operates as a single unified offering focused on supporting Utah's underserved small business entrepreneurs. The core service combines microloans (SBA Microloans at 10-14% fixed rates with up to 6-year terms) with complementary support services. The product portfolio includes: microloans for working capital, equipment, inventory, and property improvements; free business education classes and a digital class library covering financials, marketing, HR, and business planning; the Banking on Women 15-week entrepreneurship program (partnered with Westminster University and Synchrony Bank); mandatory loan orientation sessions; and the Lenderfit online application platform. Additional support services include advising/mentorship partnerships with SBDC and Women's Business Center, COVID-19 resources, and a comprehensive small business resources portal.

Differentiator

Problem solved

Functional benefit

Brands

• Banking on Women: A 15-week entrepreneurship program designed to help women in Utah make their dreams of entrepreneurship a reality. Offered in partnership with Westminster University and Synchrony Bank.

Products and services

• Microloans SBA Microloans providing financing to Utah small businesses that do not qualify for traditional bank funding, with fixed interest rates of 10-14%, up to 6-year loan terms, and no pre-payment penalties. Funds may be used for working capital, equipment, inventory, property improvements, and business purchases.
• Business Education Classes Free virtual and in-person business education classes covering financials, marketing, social media, e-commerce, HR, business planning, and strategy. Open to the public throughout Utah.
• Class Library Digital library of recorded past business education classes available on-demand, covering financials, marketing, social media, e-commerce, business strategy, planning, hiring, and HR topics.
• Banking on Women A 15-week entrepreneurship program designed to support women in Utah launching or growing small businesses, taught in partnership with Westminster University and Synchrony Bank, with full scholarships for participants.

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Westminster UniversitycoreStrategic or Co-development PartnerWestminster University serves as the education partner for the Banking on Women program. Their faculty and instructors facilitate the full 15-week course, ensuring the program is structured, practical, and accessible.
• Small Business Development Center (SBDC)coreGTM or Marketing PartnerSBDC provides free one-on-one advising to help UMLF applicants develop business plans and cash flow projections required for loan applications.
• Women's Business Center of UtahcoreGTM or Marketing PartnerProvides free advising, classes, and programs to help UMLF applicants prepare for loan applications.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Grameen America: Nonprofit microlender providing small-dollar loans, financial education, and credit-building support to entrepreneurs in low-income U.S. communities. Directly comparable to UMLF in mission, target borrower (underserved women and minority entrepreneurs), group-lending methodology, and nonprofit CDFI-adjacent structure.
• DreamSpring: Certified CDFI (formerly Opportunity Fund) providing small business microloans up to $100K, SBA Microlender, with a focus on women, minority, and immigrant entrepreneurs. Direct peer to UMLF: same nonprofit CDFI structure, same SBA microlending program, same target borrower profile, and complementary business education services.
• LiftFund: Nonprofit CDFI providing small business loans (typically under $100K) to underserved entrepreneurs across the southern U.S. Closely comparable to UMLF in SBA microlending role, target borrower (low-income, minority, startup entrepreneurs), and pairing of capital with technical assistance and business education.
• Kiva U.S. Nonprofit P2P microlending platform crowdfunded by individual lenders to provide 0% interest loans to underserved small business owners. Comparable to UMLF in serving borrowers rejected by traditional financing, nonprofit mission, and providing capital to credit-thin entrepreneurs; differs primarily in crowd-funded (vs. institutional) capital source.
• Pacific Community Ventures: California-based nonprofit CDFI providing small business loans (typically under $100K), advising, and impact measurement to underserved entrepreneurs. Comparable to UMLF in nonprofit CDFI model, micro/small business loan focus, integrated advising services, and mission-driven approach to serving bank-rejected borrowers.
• Accion Serving Southern California (and affiliates): Nonprofit CDFI providing small business microloans, business coaching, and credit-building to underserved entrepreneurs. Direct peer to UMLF: SBA microlender, similar loan size range ($300–$100K), mission-driven nonprofit structure, and integrated education/lending model.
• Mountain West Small Business Finance: Utah-based CDFI SBA lender (and current UMLF partner) providing SBA 504 and 7(a) loans to small businesses. Direct peer and active partner of UMLF in the Utah market, serving the same geography with complementary small business financing products at slightly larger loan sizes.
• CDC Small Business Finance: California-based nonprofit CDFI providing SBA loans and microloans to underserved small businesses, particularly women and minority entrepreneurs. Direct peer to UMLF: same CDFI nonprofit model, SBA microlender, similar mission focus on bank-rejected entrepreneurs, and integrated business advising services.

Regional players

• Colorado Enterprise Fund: Colorado-based nonprofit CDFI providing microloans, SBA loans, and small business advising to underserved entrepreneurs in Colorado. Direct peer in terms of model, products, and target borrower, but operates in a different (neighboring) state rather than competing in Utah.

Broad incumbents

• Beneficial State Bank: Certified B Corp and CDFI-designated community bank serving underserved communities across the West Coast with full-service banking (deposits, SBA lending, small business banking). Broader incumbent to UMLF with overlapping community-development mission but offers deposit-taking, payments, and a wider product suite rather than focusing exclusively on microloans.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Utah Microloan Fund