Dear Economic Development Loan Fund Borrower:

Due to the spread of COVID-19 and the emergency quarantine measures being taken, we know that EDLF Borrowers are experiencing a disruption of income impacting Borrower’s ability to make the upcoming monthly payments. For these reasons, the Department of Economic Development is deferring all monthly payments for 90 days. Deferred payments will be effective immediately. This temporary deferment will extend the maturity date of the loan.

The Department of Economic Development will be in communication in advance to let you know when they will start again and to confirm your new maturity date.

Please be in touch if you have any questions.

Businesses must be located within Salt Lake City’s boundary to be eligible for the EDLF.

The Salt Lake City Economic Development Loan Fund’s purpose is to stimulate business development and expansion, create employment opportunities, encourage private investment, promote economic development, and enhance neighborhood vitality and commercial enterprise in Salt Lake City by making loans available to businesses. The program’s overarching goal is to invest in viable businesses that produce strong economic returns and also provide positive social and environmental impacts.