Sponsoring Agency: Utah Governor's Office of Economic Development
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/27/2021
Size of the Fund: USD $50,000 to $500,000
Utah Governor's Office of Economic Development is accepting applications for its 2021 Impacted Small Business Catalyst Grant was created during the 2021 Legislative General Session.
The purpose of the grant is to assist small businesses, nonprofits, and organizations that experienced:
• a high level of revenue decline in a consecutive four-month period in 2020 compared to the same period in 2019, or
• began operations after Jan. 1, 2020, and can demonstrate the effects of COVID‐19 on the business and
• provide evidence of continuing solvency.
• For a business entity that began operating before January 1, 2020, the sum of the monthly revenue for a consecutive four-month period during 2019 compared to the same consecutive four-month period in 2020.
o Actual revenue lost
o Awards may not exceed $100,000
• For businesses that began operating on or after January 1, 2020, the company has to have incurred expenses and establish solvency.
o Actual net loss
o Awards may not exceed $25,000
Businesses, nonprofits, and organizations must:
• Be registered with the Utah Division of Corporations and Commercial Code (if required)
• Have fewer than 250 employees
• Claim Utah as its principal place of business
• Have not ceased operations
• Have not initiated bankruptcy proceedings
• Have incurred a high level of revenue loss or been operating at a net loss due to the public health emergency related to COVID-19
Note: Government entities do not qualify.
Required Information and Documentation
• Signed W-9
• Current Balance Sheet
• For a business entity that began operating before January 1, 2020
• Profit & Loss Statement for the four consecutive month period in 2019
• Profit & Loss Statement for the same four consecutive months in 2020
Applications will be scored on the following criteria:
• Percentage of revenue loss
• If the business previously received pandemic related grant or loan funds
• How solvent business is
• If the business is located in a county whose unemployment has been highly impacted
More information at: https://business.utah.gov/2021-impacted-small-business-catalyst-grant/