Dear Economic Development Loan Fund Borrower:
Dear Economic Development Loan Fund (EDLF) Borrower,
My name is Hang Vu. I am the Small Business Loan Officer for the Department of Economic Development. I will be your contact for any EDLF comments and questions.
Due to the spread of COVID-19 and the emergency quarantine measures being taken, the Department of Economic Development knows that EDLF Borrowers are experiencing a disruption of income impacting the Borrowers’ ability to make the upcoming monthly payments.
The initial 90 days request for deferment on EDLF loan payments expired on June 21, 2020. Due to the continuation of impacts on businesses from COVID-19, the Department of Economic Development extended the EDLF loan deferment for an additional 90 days from July 1st – September 30, 2020.
As a result of the continued challenges of COVID-19, no repayments will be required for the year of 2020. Updates on repayment terms will be provided as more information becomes available.
If you choose not to accept this additional deferment and you want to continue making your monthly payments as scheduled, please email me directly.
Businesses must be located within Salt Lake City’s boundary to be eligible for the EDLF.