Great Work — Utah

Mountain Land Association of Governments' Revolving Loan Fund (RLF)

resource active confidence: Medium status: Draft updated 2026-08-11

Type
resource
Status
Draft
Confidence
Medium
Tier
D
Builder-tier
B
Founder-tier
C
Activity-signal
2025-07-01 · https://magutah.gov/static/files/Admin/budget/MAG%20Budget%20FY26.Approved.pdf
Activity-checked
2026-08-14
Focus
Funding
Domain
capital-programs
Primary Location
Heber City, UT
Utah Location
Summit County, Utah County, Wasatch County
Region
Mountainland
Map Location
MAG Orem Office, 586 E 800 N, Orem, UT 84097
Coordinates
40.3113295, -111.6820358
Location Precision
exact
Location Source
https://magutah.gov/contact/
Website
https://www.gohebervalley.com/Revolving-loan/
Updated
2026-08-11

Summary

The Mountainland Association of Governments Revolving Loan Fund provides gap and startup financing in the Mountainland region. A loan can unlock a local business that banks reject, but the program's unknown terms and limited geography cap its demonstrated reach.

Who It's For

New and expanding businesses in the Mountainland region (Summit, Utah, and Wasatch counties per Startup State coverage) that need gap financing for fixed assets or working capital and can commit to job creation — including low- to moderate-income hiring targets.

What It Provides

Revolving loans from $10,000 to $100,000 with terms from 6 months to 5 years. Eligible uses include machinery/equipment, other fixed assets, and working capital (inventory, receivables, operating expenses, labor). Ineligible uses include refinancing existing debt and relocation without job growth.

How To Use It

Cost

Per the official page: $75 non-refundable application fee; $20 credit-report fee (waived if applicant provides a recent report with score); 1.5% origination and recording fees financed into the loan. Interest rates will not exceed 5 points above the Wall Street Journal prime rate (fixed for the loan term). Job-creation expectation: roughly one job per $25,000 borrowed, with 51% of new jobs targeted for low- or moderate-income workers.

Best Fits

Mountainland businesses with a financing gap, collateral or leverage plan, and a credible job-creation story. A weak fit for companies seeking equity, grants, or financing outside the three-county service area.

Evidence

Open Questions

  • Who is the current loan officer and what is the typical approval timeline?
  • Does the program still require private-sector leverage matching for all applicants?