By Marla Trollan
Utah District Director
U.S. Small Business Administration
Recently, I was invited to join other women leaders who helped guide Utah through the challenges of 2020 as an honoree at the 2021 Sundance Film Festival Women’s Leadership Celebration, showcasing women filmmakers and local role models. I want to take this opportunity to say how honored I was to be recognized on behalf of our SBA Utah District Office for our part in working with lenders and business owners to administer the Paycheck Protection Program, bringing more than $6 billion to date in federal relief dollars to Utah’s small business owners last year.
As Utah business owners, residents and non-profit communities grappled with a global pandemic, social unrest, a 5.7 magnitude earthquake and a hurricane-force windstorm, these formidable women used all the tools and resources they could find to guide their stakeholders through these crises. I’m so proud to be associated with this great group of women leaders.
Last year, in response to the COVID-19 pandemic and the earthquake, the SBA, through the Paycheck Protection Program and the Economic Injury Disaster Loan program, has provided small businesses, non-profits and agricultural businesses in Utah a total of $6 billion PPP aide and $1.4 billion through the EIDL program. Critical funding went to not only the Wasatch Front urban areas, but to the farthest-reaching rural areas as well.
On the business side, here in the United States and in Utah, women-owned businesses are driving economic growth. Just over one in three small businesses are owned by women. They represent about 42% of all businesses — nearly 13 million — employing 9.4 million workers and generating revenue of $1.9 trillion.
Before the pandemic in 2019, looking at the strength of women entrepreneurs in Utah, 110 new businesses were started using assistance through the Women’s Business Centers Utah, representing 321 new jobs and creating $19 million in revenue and $2 million in profit.
Let’s continue to do our part to support all small businesses by shopping local and following established health guidelines to see they can continue to stay open.
There are still PPP and EIDL funds available for those who are struggling to stay in business. There is also a new program for performing arts and entertainment venues as well as nonprofit organizations who may qualify for grants. For more information and updates, visit SBA.gov/PPP or Treasury.gov
For continued updates, business owners and nonprofit organizations should subscribe to the SBA Utah District Office newsletter at www.sba.gov/offices/district/ut/salt-lake-city and follow @SBA_Utah on Twitter as information will be updated as it changes.
You may contact the Utah District Office at (801) 524-3209 or by email at utahgeneral@sba.gov. You may also contact the Rapid Response Team at coronavirus.utah.gov or by phone at 1 (800) 456-7707.
For more information about the 2021 Sundance Film Festival Women’s Leadership Celebration, please click here.