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Ogden City
BIC (Business Information Center)

FY 2023 Ogden City Business Loan Application
CLOSED  Deadline  6/30/2023
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Ogden City Loan Programs Overview  [hide this]

Ogden City Business Loans (Ogden Loans) are intended to help Ogden businesses create or retain full-time jobs, and to help microenterprises to start, stabilize, or expand. Loans must benefit low and moderate-income (LMI) persons, either by creating or retaining jobs for LMI persons or by assisting LMI owners of microenterprises.

Ogden Loans are targeted to businesses that are not eligible for bank loans or other traditional financings. Ogden Loans are intended to provide financing to businesses until they qualify for traditional lending, at which point they are encouraged to refinance. Ogden Loans generally have higher interest rates than bank loans but may provide more flexible terms.

Loan amounts are up to $90,000, with interest rates up to 12% and a maximum term of 10 years. They require collateral equal to the value of the loan and may also require a personal guarantee. Businesses must demonstrate that they will be able to repay the loan.

Ogden Loans are funded by the Department of Housing and Urban Development's Community Development Block Grant (CDBG). 

Helpful Links:

Additional resources and lenders are available to support businesses in Ogden. If you have questions about which resources are the best fit for your business, please contact the Business Information Center (BIC) at or 801-629-8613.

* Business Resources

* Business Lending

SBA Utah District Office and Business Resources

Program Requirements  [hide this]

General Requirements

Applicants awarded federal funding for an Ogden City business loan must accept, follow, and comply with 2 CFR § 200.318 - General procurement standards, and all other federal obligations.
Incomplete applications with missing required documentation will neither be reviewed nor approved.
For additional information about the Ogden City Business Information Center please visit

Program Requirements (specific to this program)

Eligible applicants for Ogden City Business Loans are for-profit businesses located in Ogden City. All loans must comply with CDBG and related federal regulations, as well as the Ogden City Loan Program Guidelines, described below.

  • Microenterprise Loan Program (MLP)
    • Loans to help Ogden microenterprises owned by low and moderate-income (LMI) persons to start, stabilize, or expand.
    • A “Microenterprise” has five or fewer employees, including all owners. All owners must be LMI persons that meet the HUD Low Income (80%) Limit for Weber County.
    • Loan funds may be used to start, stabilize, or expand a business. The borrower is not required to create or retain jobs.
  • Small Business Loan Program (SBLP)
    • Loans to help Ogden businesses to create or retain full-time equivalent jobs.
    • A "full-time equivalent job" (FTE) is a payroll employee that works at least forty hours per week.
      • An FTE is neither an owner nor a person paid using an IRS 1099 form.

Borrowers are required to create or retain one (1) FTE within two years for every $35,000 to $50,000 loaned, depending on the business location. 

Program Steps

Step 1: Submit a pre-application. The pre-application asks basic questions about your business and your request for loan funds. Business Information Center (BIC) staff will review the pre-application once it is submitted. If your business is eligible to apply for a loan, you will be approved to complete a full loan application. An approved pre-application is not a guarantee of loan funding.

Step 2: Submit a complete loan application. The loan application is similar to an application for a bank loan and requires detailed information about your business and finances. You will also need to provide supporting documents including your business plan, financial statements and projections, and tax returns. Once you submit a complete application, BIC staff will review the application and underwrite the loan. Incomplete applications will not be reviewed.

Step 3: Present to Loan Committee. BIC staff will present your loan application to the Ogden City Loan Committee. You will have an opportunity to introduce your business, present the funding request, and answer any questions. Loan Committee will then vote on whether to approve the loan.

Step 4: Close and fund the loan. If your loan is approved, you will be required to provide additional information to close and fund your loan. You will then enter into a loan agreement with Ogden City. Once the loan agreement is signed, you will submit requests to receive the loan funds.

Step 5: Reporting and repayment. You will need to provide expense documentation showing how the loan funds were spent. Depending on the loan program, you may also be required to report on job creation or retention and provide financial statements on a regular basis.

Program Timeline

After a complete loan application is submitted, it generally takes 2-4 weeks for staff the underwrite the loan. The presentation to the Loan Committee and notice of decision may then take up to 2 weeks. After approval, it generally takes 4-8 weeks to close and fund the loan. All timelines depend on how quickly you respond to questions and requests from BIC staff.

Important Notes

  • All loan applications must be complete. All application questions must be completed, and all required documents must be uploaded, with no missing pages or redactions. Incomplete applications will not be reviewed.
  • If any information is missing or incomplete it will be incumbent upon you, as the applicant, to correct the missing or incomplete information or your application will be determined incomplete and ineligible. 
  • Applications will be reviewed and processed in the order that complete applications are submitted.
  • If you receive a loan, your business must comply with all current and future federal and state requirements regarding the use of loan funds and reporting. Your business must be able to document and report on funds for at least five (5) years after funds are received.

Contact Us

If you need help or have questions, please contact the BIC team at or 801-629-8613.

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Instructions Show/Hide

Please provide the following information for your business.

Entity Information Tips:

  • DBA Business Name: List your commonly used business name.
  • Amount Requested: Enter the loan amount you are requesting (cannot exceed $90,000).
  • Applicant Information: Provide name and contact info for the primary point of contact for your application.
  • Organization Information: Provide your legal business name, address, and contact information.
  • Secondary Contact: Provide a secondary point of contact for your application, or if none, reenter the primary contact info. This must be completed to submit your application.

DBA Business Name
Amount Requested
Amount requested cannot exceed $90,000.00

Applicant Information

First Name
Last Name
Organization Information
(changes to this data will be reflected on all other applications for this organization)

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