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The Business Information Center

Contact Us
(801) 629-8613
American Can Complex
2036 Lincoln Ave, #105
Ogden, Utah 84401

Ogden City’s Business Information Center (BIC) is a one-stop small-business information facility located in Ogden's Downtown Central Business District in the newly renovated American Can Complex. The BIC operates in partnership between Ogden City, Weber State University's Small Business Development Center (SBDC), the Service Corps of Retired Executives (SCORE), and the Suazo Center to offer businesses located in Ogden, Utah the resources necessary to achieve growth and success.

The BIC hosts free, professional, one-on-one business consulting with SCORE, SBDC, and Suazo Center counselors, business workshops, and seminars. We also provide a number of computer workstations available to the public with easy-to-use software to assist clients in business-plan writing, business publications, marketing plans, and many other small-business-related topics.

We also provide businesses with access to a variety of financing options to assist in their endeavors to become successful. The BIC facilitates the Ogden City Small Business Loan Program, utilizing federal Community Development Block Grant (CDBG) funds, city and state incentive programs, and general small-business financial advice and information.

Lastly, the BIC offers affordable office space, conference room, and classroom facilities for business training events, equipped with the latest high tech audio and visual equipment.

Whether you are a startup, a relocating or expanding business, or you have an idea and you need help getting started, Ogden City’s Business Information Center is the helping hand for your small business.

Small Business Loan Program

The Ogden City Small Business Loan Program is a federally funded economic development loan fund for businesses located in Ogden, Utah. The loan fund's objective is to create and retain existing jobs, to provide economic opportunities for low-to-moderate income Ogden residents, to stimulate the redevelopment of underutilized and deteriorated commercial property in Ogden, and to provide improved access to small-business loan financing to Ogden-based businesses. We are a “lender of last resort” and work with clients who do not qualify for traditional financing. Whether you are a startup or an existing business located in Ogden, and a bank is unable to assist you, Ogden City’s Small Business Loan Program may be able to help.

Guidelines

  • Business location must be in Ogden City.
  • This program is funded by the Federal Community Development Block Grant Program and loans are subject to requirements outlined in 24 CFR Part 570. This includes the payment of prevailing wages for workers on construction projects. 
  • Activities funded through this program must be designed to benefit low and moderate income persons. This is usually met by creating or retaining permanent jobs, at least 51% of which, on a full time equivalent basis, are either held by or are considered to be available to low/moderate income persons.
  • Must create one full-time equivalent job per $35,000 (outside the NRSA - Neighborhood Revitalization Strategy Area), or $50,000 (inside the NRSA) borrowed. The actual dollars per job created is based on location and will be negotiated on each loan. (See NRSA map)
  • Business Development Staff will conduct financial underwriting, and will require documentation from the applicant, to assure that 1) project costs are reasonable; 2) new equity and private financing are maximized and fully committed to the project; 3) the project is financially feasible; and 4) that the owner will not receive more than a reasonable return on equity investment. Specifically, the applicant must provide sufficient evidence that the amount of funds requested from Ogden City is necessary for the project to succeed. This can be due to a gap in available financing to cover project costs, the rate of return to the investor(s) is too low, or because the project costs related to the site are not competitive with alternative sites.
  • The applicant must demonstrate the ability to repay the loan and provide adequate collateral for securing the loan.

Use of Funds

  • Ogden City Small Business Loan proceeds can be used for a variety of project costs, including real estate acquisition, new construction, rehabilitation, equipment purchases, refinancing, and working capital.

Loan Terms

The interest rate, term, and amortization for the loan will be structured to allow for a reasonable rate of return to the investor(s) and adequate cash flow to service project debt, with the following stipulations:
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: $90,000
  • Interest Rate: Up to 12% annual
  • Term of Payments: maximum 10 years, however subject to length of lease and/or life of improvements secured
  • Loan to Value Ratio: Up to 100%
  • Debt to Income Ratio: Up to 50%

Program Guidelines

Central Business District Revitalization Program

The Central Business District Revitalization Program is a loan fund intended to facilitate and stimulate capital investment in Ogden’s Central Business District and to promote job creation/retention activities.

Guidelines

  • Business location must be in Ogden City’s Central Business District. (See CBD map)
  • This program is funded by the Federal Community Development Block Grant Program and loans are subject to requirements outlined in 24 CFR Part 570. This includes the payment of prevailing wages for workers on construction projects. 
  • Activities funded through this program must be designed to benefit low and moderate income persons. This is usually met by creating or retaining permanent jobs, at least 51% of which, on a full time equivalent basis, are either held by or are considered to be available to low/moderate income persons.
  • The borrower must create one full-time equivalent job per $50,000 borrowed. The actual dollars per job created will be negotiated on each loan.
  • Business Development Staff will conduct financial underwriting, and will require documentation from the applicant, to assure that 1) project costs are reasonable; 2) new equity and private financing are maximized and fully committed to the project; 3) the project is financially feasible; and 4) that the owner will not receive more than a reasonable return on equity investment. Specifically, the applicant must provide sufficient evidence that the amount of funds requested from Ogden City is necessary for the project to succeed. This can be due to a gap in available financing to cover project costs, the rate of return to the investor(s) is too low, or because the project costs related to the site are not competitive with alternative sites.
  • The applicant must demonstrate the ability to repay the loan and provide adequate collateral for securing the loan.

Use of Funds

  • Eliminate blight conditions in the Central Business District or to benefit persons of low-to-moderate income.
  • Commercial, Residential, or Mixed Use infill projects, including new construction, rehabilitation, and/or reconstruction
  • Capital Development, Business Expansion, and Job creation/retention

Loan Terms

The interest rate, term, and amortization for the loan will be structured to allow for a reasonable rate of return to the investor(s) and adequate cash flow to service project debt, with the following stipulations:
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: $100,000 or more requires City Council approval
  • Interest Rate: Up to 12% annual
  • Term of Payments: maximum 10 years, however subject to length of lease and/or life of improvements secured
  • Loan to Value Ratio: Up to 100%
  • Debt to Income Ratio: Up to 50%

Program Guidelines