There are a number of good reasons why businesses are going places in Provo. Location is certainly one of those. Provo is the center for State and County Government serving Utah County. Provo is also the business center for several large Fortune 500 companies, Novell and Ameritech Library System, not to mention home to many of the fastest growing companies in Utah.

 

But those are not the only reasons. Small and emerging businesses realize that securing the necessary capital to start a new company or expand an existing one is becoming increasingly more and more difficult. Responding to this need, the Provo City Mayor’s Office, the Provo City Economic Development Department, and the Provo Redevelopment Department created the Business Development Corporation of Provo (BDC) to advise and administer the Small Business Loan Fund (SBLF) to enhance a small business owner’s ability to secure capital by filling the financing gap that traditional lending institutions are sometimes unwilling to fill.

 

As President of the BDC, our goal is to assist our clients to transition to the next level of business sophistication by assisting them with start-up, expansion and/or growth plans. Our mission is to provide companies with the capital they need to grow and eventually transition into more traditional banking financing and relationships.

 

Besides filling the financing funding gap, the SBLF program helps create and retain important jobs in Provo. In addition, our focus is to improve the skills of each company we serve in three areas in order for our clients to make better business decisions: sales & marketing, financial & management, and better use of technology.

 

After reviewing our information, I hope you will take the next step and contact the Executive Director to assist you in pursuing financing for your company.