Welcome to the Utah CDC
Who We Are and What We Do!
Utah CDC is a Certified Development Company (CDC), authorized by the U.S. Small Business Administration (SBA) to serve the Utah Small Business Community. Working as a partner with the SBA and a private-sector lender, we assist small businesses in financing up to 90% of the purchase of long-term fixed assets, such as land, building (existing and new construction), and equipment.
The SBA 504 Loan Program's purpose is to contribute to the economic development of the community through job creation and contribution to public policy goals.
The public policy goals are:
- Business District Revitalization
- Expansion of Exports
- Expansion of minority business development
- Rural development
- Enhanced economic competition
- Restructuring because of federally mandated standards or policies
- Changes necessitated by federal budget cutbacks
- Expansion of small business concerns owned and controlled by veterans
- Expansion of small business concerns owned and controlled by women
Utah CDC shares a common goal with the State of Utah to improve the economic well-being
of its residents.
Utilizing the SBA 504 Loan Program, we assist in:
- Retention and expansion of existing employers
- Recruitment of new employers
- The creation of new businesses
- The stimulation of new basic job creating investment
Our first goal is to assist in the expansion of existing business looking to increase their operations.
Second, we wish to assist new businesses/employers who have sound financial and management skills in order to increase the overall business base.
504 Loan Highlights
With an SBA 504 Loan, Utah CDC can help your small business purchase their own land, building, and even equipment. No more leasing or renting!
To give you better insight into how Utah CDC can assist you with the SBA 504 Loan process, we present you with a list of our 504 Loan Highlights.
The 504 Loan Highlights cover:
- What We Provide Financing For
- Typical Loan Structure
- Maximum Loan Amount
- Loan Term
- Rate of Interest
- Collateral Required
- Eligibility Requirements
Mike & Sterlings – Davis County
Michael Watkins and Sterling Sill combined their individual flooring companies in 1994 to form Mike and Sterling's Flooring Co. The company sells and installs all types of flooring material including tile, hardwood, carpet, and vinyl. The company provides sales and service to both residential and commercial clients.