BUSINESS RESOURCE GUIDE For Entrepreneurs & Business Owners in Green River,

ACRONYMS

BEAR—Business Expansion and Retention

BRC—Business Resource Center

EAG—Export Acceleration Grant

EDA—Economic Development Administration

EPA—Environmental Protection Agency

GOED—Governor’s Office of Economic Development

OJT—On the Job Training

RBDG—Rural Business Development Grant

RCAC—Rural Community Assistance Corporation

RLF—Revolving Loan Fund

SBA—Small Business Administration

SBDC—Small Business Development Center

SBIC—Small Business Investment Company

SBLF—Small Business Lending Fund

SCORE—Service Corps of Retired Executives

STEP—State Trade and Expansion Program

STTR—Small Business Technology Transfer Program

TAP—Technology Acceleration Program

USDA— Department of Agriculture

VBOC—Veterans Business Outreach Center

Business Resource Guide | Green River, Utah Page | i TABLE OF CONTENTS

This Guide 1

About Green River 2

Coworking Space 3

Technical Assistance 4

Business Resource Centers 5

Technical Assistance 6

Networks 8

Accelerators 9

Funding Sources 10

Funding Databases 11

Government Grants 12

Private Grants 13

Post-Performance Grants & Tax Credits 15

Capital Investors 16

Government Loan Programs 19

Private Business Loan Providers 21

Crowdfunding 22

CONTACT

CONAE BLACK ADAM HUGHES Green River City Administrator Better City

435-564-3448 801-332-9006 [email protected] [email protected]

Business Resource Guide | Green River, Utah Page | ii This Guide

THIS GUIDE

This is a business resource guide for entrepreneurs and business owners in Green River, Utah. The information includes programs and organizations that provide technical assistance, networking, mentoring, and funding for businesses. It was compiled in 2020 by Better City, LLC.

THE FUNDING CONTINUUM Seed / Startup Early Growth Exit

Personal Equity Capital Equity Capital Cash Out Strategy Savings Angel Capital Venture Capital Mgt. Buy Back Credit Cards Venture Capital Corporate Venture ESOP IPO Second Mortgage Loans Loans Friends/Family Valuation Partner Bank Loans Microloans Equity Capital Microloans Bridge Loans Angel Capital Grants Mezzanine Funding Venture Capital Crowdfunding Loans Microloans Bridge Loans Crowdfunding Grants Crowdfunding $ 0 Cash Flow Cash Flow Relief Suppliers Funding sources typically available at Customers various business stages Owners Valuation Partners Declining

Courtesy: Finance New Mexico Business Resource Guide | Green River, Utah Page | 01 About Green River

ABOUT GREEN RIVER

Green River is a small city in eastern Utah. It is in Emery County and has a population of about 950, with a suburban-rural type of community. The city often attracts people who are looking for acces- sibility to outdoor recreational activities and national parks. Most residents of Green River own their homes, with the median home value of $115,200 and a median rent of $476 well below the national averages. Green River is a part of the Emery School District, comprised of ten schools for kindergarten through high school; with a student to teacher ratio of 17:1.

The City of Green River is best known for its recreational activities. The Green River is a major tributary of the and provides opportunities for river running and rafting expeditions. There are many parks nearby, including (within 45 minutes), Canyonlands National Park (within 55-minutes), and Capitol Reef National Park (within 1.5 hours). Each of these parks is a prime destination for camping, hiking, river rafting, and much more. The City also hosts an annual Outlaw Day Event, Melon Days Festival, and Swell River Festival.

Notable places to visit in & around Green River include: • Monument Hill • John Wesley Powell River History Museum • Crystal Geyser • Arches National Park • Canyonlands National Park • Capitol Reef National Park • • Green River State Park • Dead Horse Point State Park • San Rafael Swell • Fossil Point • Sego Canyon • Black Dragon Canyon Photo Credit: Tom Till • And much more...

Business Resource Guide | Green River, Utah Page | 02 COWORKING SPACE Coworking space provides professional office space for individuals and small companies. The Utah Governor’s Office of Economic Development recently awarded the Southeastern Utah Busi- ness Technical Assistance Center grant funding to establish coworking space in Green River.

The coworking space will be in the Green River branch of the Emery County Library System, and is anticipated to be completed in 2020. The site will include a coworking/business resource lounge, a separate entrance to the building for access during non-traditional business hours, Wi-Fi access, and copy and print capabilities.

Good business planning is nine parts execution for every one part strategy. - Tim Berry -

Business Resource Guide | Green River, Utah Page | 03 TECHNICAL ASSISTANCE

Plan for what is di cult while it is easy, do what is great while it is small. - Sun Tzu - Business Resource Centers

BUSINESS RESOURCE CENTERS

Business owners and entrepreneurs benefit from technical assistance and business mentorship provided through Business Resource Centers (BRC). According to a survey by UPS , “88 percent of business owners with a mentor say that having one is invaluable… [and] 70 percent of small business owners that receive mentoring survive for five years or more, double the rate of those who do not receive mentoring.”

Business Resource Centers provide services such as: • Business plan development; • Advice on all aspects of the business from start-up to exit strategies including marketing and sales, finance, operations, capital, management, and growth; • Training in business operations including finances, budgeting, cash management, negotiating, and how to work with government agencies; • Mentoring from successful business owners; • Support for manufacturing processes including facility layout and design as well as industry certifications; and • Technology entrepreneur services including support to propel ideas into products and services.

Most BRC services are provided free-of-charge in association with the Small Business Adminis- tration (SBA) and they are sometimes referred to as a Small Business Development Center (SBDC). There may be costs associated with training and specific/customized business consul- tations. Contact the BRC for additional information on their services and any associated pricing.

Many BRC locations also house additional resources, such as microloan organizations, business incubators, maker spaces, chambers of commerce, local economic development organizations and investors. Many BRC’s provide training on-site via an associated college or university.

Nearby Business Resource Centers

MOAB PRICE RICHFIELD USU San Juan Campus USU of Eastern Utah Snow College 125 West 200 South 420 N 300 E, 800 W 200 S Building B, Suite 123 Price, Utah 84501 Room 155W Moab, Utah 84532 Richfield, Utah 84701 435-259-7432 435-613-5443 435-893-2252 www.utahsbdc.org/moab/ www.utahsbdc.org/price/ www.utahsbdc.org/richfield/

Business Resource Guide | Green River, Utah Page | 05 Technical Assistance

TECHNICAL ASSISTANCE

There are a variety of organizations that offer technical assistance to businesses. In addition to the local BRCs on the prior page, the list below includes programs that provide entrepreneurs and business owners advice from experienced professionals and access to helpful information.

All Businesses Small Businesses One Stop Utah Business Registration Goldman Sachs - 10,000 Small Businesses Utah provides all business registration information The 10,000 Small Businesses program advises small and forms through the One Stop Online Business business owners on how to become more bankable Registration website. and position themselves to access small business https://secure.utah.gov/osbr-demo/welcome funding and capital. www.10ksbapply.com/ Service Corps of Retired Executives (SCORE) A resource partner of the SBA, SCORE is the nation’s Rural Businesses largest network of volunteer expert business mentors. Business Expansion and Retention (BEAR) www.score.org The BEAR initiative reaches out to rural businesses and makes the connection between the company Economic Development Corporation of Utah and needed existing resources from all agencies, Assists companies with expansions and relocations. higher education, and other resources. Free consulting services; including research requests, www.business.utah.gov/rural/ site visit coordination, incentives, ground breaking and ribbon cuttings, and introduction to local partners. International Businesses www.edcutah.org U.S. Commercial Service Developed by international trade experts and Zions Bank Business Resource Center economists, Export.gov provides trusted market Helps business owners find answers and resources, intelligence, practical advice, and business tools to develop strategies, solve problems, and get guidance help U.S. companies expand in global markets. with business, marketing, sales, financing, https://www.trade.gov/export-solutions management, growth opportunities, and more. https://brc.zionsbank.com/ World Trade Center Utah Empowers Utah companies of all sizes with research Alice and resources for strategies to compete in the global A website that provides online guidance and economy. Their trade services team offers resources for entrepreneurs and small businesses. complimentary services such as international market https://helloalice.com/ research designed to help Utah businesses make informed decisions and establish meaningful connections. www.wtcutah.com

Business Resource Guide | Green River, Utah Page | 06 Technical Assistance

Manufacturing Businesses Minority-Owned Businesses Manufacturer Extension Partnership Minority Business Development Agency The University of Utah Manufacturing Extension An agency of the U.S. Department of Commerce that Partnership Center is the statewide manufacturing promotes the growth of minority-owned businesses assistance center that seeks to improve all aspects through the mobilization and advancement of public of manufacturing—from the production floor to the and private sector programs, policy, and research. front office. www.mbda.gov www.mep.utah.edu

Women-Owned Businesses Veteran Businesses Women's Business Center Veterans Business Outreach Center (VBOC) Helps women start and grow their own businesses by The SBA's VBOC program provides entrepreneurial providing personal mentors, online training, and development services such as business training, opportunities to learn with a group of women counseling, and resource partner referrals to business owners. transitioning service members, veterans, National www.wbcutah.org Guard & Reserve members and military spouses interested in starting or growing a small business. www.sba.gov/offices/headquarters/ovbd/resources/ Banking on Women 1548576 Free small business course for female entrepreneurs created to empower women in Utah to start or grow their businesses. www.utahmicroloanfund.org/bankingonwomen

Good intentions might sound nice, but it’s positive actions that matter. -Tim Fargo-

Photo Credit: Frank Jensen

Business Resource Guide | Green River, Utah Page | 07 Networks

NETWORKS

Networking is a valuable opportunity to gain insights and learn from other entrepreneurs, busi- ness owners, and executives. This list includes many of the business networks in the region.

All Businesses Small Businesses Entrepreneurs Organization Utah Independent Business Coalition A global business network that educates, inspires, A collaborative association of Utah’s locally owned hosts events, and an online forum for personal and businesses to create a “sense of place” in our professional growth. communities. The small stores, cafes, and professional www.eonetwork.org/utah services businesses that are at the heart of Utah's neighborhoods. Grow Utah www.utahindependentbusiness.org Hosts and runs startup conferences and events; organizes and leads community work-groups to help grow entrepreneur activity; works with state partners Tech Businesses to lead and assist in startup growth efforts. www.growutah.com Utah Technology Council Programs and events targeted at Utah’s innovation Mountain West Capital Network workforce to improve existing talent, grow the next generation of talent, and create an environment that Utah’s first and largest business networking promotes Utah and its companies. organization devoted to supporting entrepreneurial www.utahtech.org success. www.mwcn.org Silicon Slopes A nonprofit organization empowering Utah’s startup Woman-Owned & Minority Businesses and tech community to learn, connect, and serve in an effort to make entrepreneurship and opportunity Utah Supplier Development Council in Silicon Slopes open and accessible to all. Helps increase purchases of goods and services by www.siliconslopes.com large companies and government entities from minority and women-owned businesses through introduction and networking. Women Tech Council www.usdcutah.org Offers mentoring, visibility, opportunities and networking to more than 10,000 women and men National Association of Women working in technology to create business environments Business Owners focused on high performance where men and women The Salt Lake City Chapter of the National Association can succeed. of Woman Business Owners provides a strong voice www.womentechcouncil.com and vision for women entrepreneurs and business owners. www.nawbo.org/salt-lake-city

Business Resource Guide | Green River, Utah Page | 08 Accelerators

ACCELERATORS

Business Accelerators provide growth programs for early-stage businesses. Businesses apply for enrollment in a cohort for a specific timeframe. If admitted, the business receives mentoring, logistical support, workspace, and investment or connections to investors.

All Businesses Mentored Acceleration Provides mentorships to individuals and companies to generate accelerated growth. www.mentoredacceleration.com

RevRoad Accelerator Works side-by-side with companies for two years, providing a mentor, key service deliverables, and office space. www.revroad.com

Tech Businesses Wayne Brown Institute Offers entrepreneurs educational and training programs that transfer experience, knowledge, contacts, and capital from the world’s leading business and financial organizations to promising early-stage, technology-based companies. www.waynebrowninstitute.org

Boom Startup An online, mentorship-driven investment accelerator program focusing its efforts on providing money, mentors, and markets for tech startups from idea creation through execution. www.boomstartup.com

Business Resource Guide | Green River, Utah Page | 9 FUNDING SOURCES

Unless commitment is made, there are only promises and hopes; but no plans.

- Peter Drucker -

Photo Credit: Audrey Livingston Funding Databases

FUNDING DATABASES

The following databases provide information on ever-changing opportunities for a business to obtain funding through grants, contests, and loans; many of which are industry specific.

Grants.gov Research, Technical Assistance, & Data The database with access for over 900 grant programs Related Grant Programs offered by the 26 Federal grant-making agencies, this Grants for businesses in the education industry. website allows organizations to electronically find and http://www2.ed.gov/fund/grant/apply/grantapps/ apply for competitive grant opportunities. index.html www.grants.gov EPA Grant Programs Catalog of Federal Domestic Assistance Grants for environmental research and programs. Government-wide compendium of Federal programs, www.epa.gov/grants/specific-epa-grant-programs projects, services, and activities that provide assistance or benefits to the American public. National Institute of Standards & www.usa.gov/business?source=busa Technology Grants Grants for businesses in science, technology, Utah Grant Watch computing, engineering, or public safety. Grant database for a wide spectrum of grant recipients, www.nist.gov/oaam/grants-management-division/nist- including hospitals, universities, schools, community program-information based groups, neighborhood nonprofits and small businesses. Programs and Services for Businesses www.utah.grantwatch.com/cat/13/small-business- Grants for agriculture or food service businesses grants.html located in rural communities. https://www.rd.usda.gov/programs-services Challenge.gov Database of challenges and prize competitions, State Business Incentives Database run by more than 102 agencies across the federal Database of business assistance programs available government. in each state. www.challenge.gov http://stateincentives.org/

US Small Business Lending Fund (SBLF) Small Business Investment Company (SBIC) List of SBLF locations and lending institutions that Directory of SBIC’s. The SBA does not invest in provide capital to qualified banks and community businesses but provides funding to qualified SBIC’s loan funds to encourage small business lending. with expertise in certain sectors or industries. www.treasury.gov/resource-center/sb-programs/Small- SBIC’s use their private funds, along with Business-Lending-Fund/Pages/default.aspx SBA-guaranteed funding, to invest in small businesses. www.sba.gov/funding-programs/investment- capital#paragraph-11

Business Resource Guide | Green River, Utah Page | 11 Government Grants

GOVERNMENT GRANTS Grant money does not need to be repaid. Many government agencies and private organizations have grants which are awarded on a regular basis to specific types of businesses or industries.

Small Businesses Rural Businesses Small Business Technology Transfer Program Value Added Producer Grants (STTR) The United States Department of Agriculture (USDA) Provides small businesses with the opportunity to helps agricultural producers enter into value-added perform research and development that is funded by activities related to the processing and/or marketing of the Federal government. Small businesses in the new products to generate new products, create and STTR program must formally collaborate with a expand marketing opportunities, and increase producer research institution. Awards range from income. Awards range from $75,000 - $250,000. $252,131 - $1,680,879. https://www.rd.usda.gov/programs-services/value- www.sbir.gov/about/about-sttr added-producer-grants

Small Business Innovation Research Rural Energy for America Program Helps small businesses perform federally-funded USDA guaranteed loan financing and grant funding to research and development for products and services agricultural producers and rural small businesses for with commercialization potential. Amount varies. renewable energy systems or efficiency improvements. www.sbir.gov Up to $20,000. www.rd.usda.gov/programs-services/rural-energy- america-program-renewable-energy-systems- Tech Businesses energy-efficiency Technology Commercialization Innovation Program Rural Business Development Grants The USDA Rural Loan and Grant Program is designed The Governor’s Office of Economic Development to provide technical assistance and training for small (GOED) provides competitive grants to small rural businesses, defined as fewer than 50 new workers businesses and university teams seeking to bring and less than $1 million in gross revenue. The applicant their new technologies to market. Awards range from must be a rural public entity. Amount varies. $100,000 - $200,000. www.rd.usda.gov/programs-services/rural-business- www.business.utah.gov/news/tcip-grant-open- development-grants applications/

Business Resource Guide | Green River, Utah Page | 12 Private Grants

PRIVATE GRANTS

All Businesses Utah Businesses IdeaCafe Small Business Grant Grow Utah Startup Contests Only requires a business plan. Up to $1,000. Grow Utah organizes and hosts startup contests in www.businessownersideacafe.com/business_grants/ various industry clusters across Utah to help identify promising startups in need of resources. Amount varies. Fundera Zach Grant www.growutah.com/contests-accelerators For the best annual video entry on "why you started your own business". Up to $2,500. Social Investors Forum www.fundera.com/resources/zach-grant The Community Foundation of Utah considers grants, loans, and alternative financial investments for selected proposals. They prefer emerging organizations and Small Businesses startups, spin-off programs, or new initiatives in existing organizations committed to change and FedEx Small Business Grant Contest demonstrate a sustainable funding model. Ten grants are awarded each year. The entry period is Amount varies. usually late winter or spring. Up to $2,500. www.utahcf.org/community-impact/ https://www.fedex.com/en-us/small- business/grant-contest.html International Export Businesses LendingTree Small Business Grant Contest This annual grant goes to a small business that is State Trade & Expansion Program (STEP) having trouble scaling their company. Up to $50,000. The World Trade Center Utah STEP seeks to help Utah www.lendingtree.com/business/grant/ businesses enter and expand into dynamic global markets by helping offset the cost of eligible expenses National Association for the associated with export development activities. Grants Self-Employed – Growth Grants range from $2,000 - $3,000. For micro-businesses only, with 10 employees www.wtcutah.com/grants/step-grant/ or fewer. Up to $4,000. www.nase.org/become-a-member/grants-and- Utah Export Acceleration Grant (EAG) scholarships/BusinessDevelopmentGrants.aspx EAG is a competitive grant to help small to medium- sized Utah businesses advance their international business goals. Funds can be used to help with services, travel, and education/training. Grants range from $3,000 - $5,000. www.wtcutah.com/grants/utah-export- acceleration-grant/

Business Resource Guide | Green River, Utah Page | 13 Private Grants

Women-Owned Businesses Other Businesses

Cartier Women's Initiative Award Sorenson Impact Foundation Businesses led by women entrepreneurs, in the initial These grants are intended to make a lasting impact on stages of their development & growth operating in any individuals, families, and societies. The primary areas country and industry are welcome to apply. Grants of emphasis include social impact, education, range from $30,000 - $100,000. entrepreneurial training, and healthcare. Amount www.cartierwomensinitiative.com varies. www.sorensonimpactfoundation.org/about Eileen Fisher Grant Program Applicants must have been in operation for at least StreetShares Foundation Grant three years, earn less than $1 million in annual revenue, Exclusive to veteran entrepreneurs in the food and and be focused on environmental or social change. beverage industry. Grants range from $4,000 - $15,000. Grants range from $12,000 - $120,000. https://streetsharesfoundation.org/the-veteran-small- www.eileenfisher.com/grants/women-owned- business-award business/women-owned-business-overview VetFran Business Grant Fund Open Meadows Foundation Grant Program Exclusive to veteran entrepreneurs in the food and This grant is for Non-Profit organizations and is funded beverage industry. Maximum amount of $10,000. twice a year. Up to $2,000. www.vetfran.org www.sites.google.com/site/openmeadowsfoundation/ ActivityHero Business Grant Contest Tory Burch Foundation Fellowship For businesses that provide children's camps Recipients receive access to workshops, education and classes. Grants range from $500 - $5,000. programs and networking opportunities, grant money, http://camps.activityhero.com/business-grant-contest/ and a pitch day event. Grants range from $5,000 - $100,000. Halstead Grant www.toryburchfoundation.org/fellows For jewelry businesses. Grants range from $250 - $7,500. Amber Grant https://grant.halsteadbead.com/ Looking for women with passion and a good story. Awarded monthly, grants range from $4,000 - $25,000. www.ambergrantsforwomen.com/get-an-amber-grant

The Girlboss Foundation Grant For female business owners working in design, fashion, music and the arts. Judged on creativity and innovation, business acumen and planning, and demonstration of a financial need. Up to $15,000. www.girlboss.com/foundation

Business Resource Guide | Green River, Utah Page | 14 Post-Performance Grants and Tax Credits

POST-PERFORMANCE GRANTS & TAX CREDITS Post-performance grants and tax credits allow businesses to receive incentives after certain performance criteria are achieved. Business owners should contact the Utah Governor’s Office of Economic Development prior to project commencement to determine eligibility.

Life Science & Technology Tax Credits High-Cost Infrastructure Tax Credit Post-performance nonrefundable tax credit for up to Supports significant infrastructure investment in Utah. 35% of the investment over three years for qualifying https://energy.utah.gov/tax-credits- life science and technology investors. Up to $350,000. financing/commercial-tax-credit/ https://business.utah.gov/programs- initiatives/corporate-recruitment-incentives/ Research Tax Credits Income tax credits of up to 6% of a company's quali- Enterprise Zone Tax Credits fied research expenses, including wages, machinery, Enables certain types of businesses locating to, or software, and equipment. Amount varies. expanding in, Green River a claim to state income tax www.incometax.utah.gov/credits/research-activities credits provided in the law. Amount varies. www.business.utah.gov/rural Rural Economic Development Incentive Incentivizes businesses to create new, high-paying Targeted Business Tax Credits jobs remotely or online, in a “satellite hub” or physically The GOED may award up to $300,000 of “allocation located in rural counties. Between $4,000 - $250,000. caps”, to businesses with eligible Community Invest- www.tfaforms.com/4682786 ment Projects. Up to $100,000 per project. www.business.utah.gov/rural Rural Fast Track Available to small companies in rural Utah. Provides Economic Development Tax Increment Financing incentives to existing small businesses to create high Refundable tax credit for up to 30% of new state tax paying jobs. Up to $50,000. revenues (includes state corporate, sales and withhold- www.business.utah.gov/rural/ ing taxes) over the life of the project. Amount varies. https://business.utah.gov/programs- New Market Tax Credit initiatives/corporate-recruitment-incentives/ Both the state of Utah and the Federal government provide this tax credit used to attract private capital Industrial Assistance Fund investment to areas in need of job growth and A post-performance grant for the creation of high- economic development. Amount varies. paying jobs in the state. Amount varies. www.jobs.utah.gov/employer/resource/ojt.html https://business.utah.gov/programs- initiatives/corporate-recruitment-incentives/ On the Job Training (OJT) The Utah Department of Workforce Services OJT Historic Tax Credit program provides reimbursement to employers who Both the state of Utah and the Federal government provide customized job training to participating provide this tax credit for the rehabilitation of qualified employees. Amount varies. buildings. www.jobs.utah.gov/employer/resource/ojt.html www.history.utah.gov/preservation/financial-incentives

Business Resource Guide | Green River, Utah Page | 15 Capital Investors

CAPITAL INVESTORS Capital investors provide cash to companies and generally receive ownership equity. Many capital investors focus exclusively in specific industries or business types. It is important to conduct due diligence to ensure a capital investor is a good fit. The list below includes many of the capital investors based in Utah.

42 Ventures Cougar Capital Partners with entrepreneurs to grow software-driven A student-run venture capital and private equity fund businesses that deliver innovative products and which joins a syndicate team to conduct due services to highly defined markets. diligence and—when appropriate—co-invest with the www.42ventures.com industry partners in the deal. www.byucougarcapital.org Alerion Capital Group Applies technology domain expertise to private equity Crocker Ventures investments in later-stage technology and technology An independent, privately held investment firm that enabled companies. funds seed- and early-stage companies in biotech, www.alerion.com pharmaceuticals, medical devices, drug delivery, diagnostics and info tech. Aries Capital Partners www.crockerventures.com Provides a combination of patient capital, flexible deal structures, in-depth business capabilities, and a Decathlon Capital Partners wealth of experience. Provider of innovative revenue-based lending financing www.ariescapitalpartners.com solutions and growth capital for companies seeking flexible alternatives to traditional equity investment. Banyan Ventures www.decathloncapital.com A robust infrastructure and proven methodology for helping early-stage companies to grow and succeed. Dolphin Capital www.banyanventures.com Private equity firm that invests in mid-market businesses with significant growth potential. Cherokee & Walker Private Equity Its investments include growth capital investments, Private equity firm managing and seeking investment partial buy-outs, and acquisitions. opportunities that fit the models of acquisitions & www.dolphincapitalgroup.com investments, partnerships, and outgrowth. www.cherokeeandwalker.com DW Healthcare Partners Private equity firm with expertise in healthcare, Clarke Capital strategic growth planning, and business A family office investment firm, focused on alternative value maximization. They invest in healthcare assets, hedge funds, early stage university-licensed/ac- companies generating over $4 million in EBITDA, at the quired technologies and growth equity. smaller end of the middle market. www.clarkecp.com www.dwhp.com

Business Resource Guide | Green River, Utah Page | 16 Capital Investors

Early Run Ventures Oakhouse Partners Engage angel investing in ideas and innovation. Supporting breakthrough technologies with potential www.earlyrun.com/index.html to reinvent industries. (e.g. blockchain, robotics, CRISPR, etc.) Epic Ventures www.oakhousepartners.com Invests in early stage software/internet infrastructure across the IT stack, ecommerce, consumer apps, Park City Angels and security. Invests in promising opportunities that can produce www.epicvc.com significant shareholder return. www.parkcityangels.com GSD Capital Founder-friendly funding to early-stage Mountain West Album VC companies. Focused on partnering with exceptional Early-stage investment firm in Utah that invests in founding teams who seek to avoid costly equity dilution. talented entrepreneurs with exceptional technologies. www.gsdcapital.vc https://www.album.vc/

Jnivin Pelion Venture Partners Active lifestyle investment and growth company Early stage venture capital firm that exceeds the investing in many industries from consumer products expectations of unapologetic entrepreneurs who shoot to tech. for the moon. www.jnivin.com www.pelionvp.com

KEB Enterprises Peterson Partners Focused on partnering with and acquiring businesses Premier capital partner for entrepreneurs and founders with an emphasis on rapid growth. of businesses. www.kebenterprises.com www.petersonpartners.com

KickStart Seed Fund REES Capital Kickstart invests in Mountain West companies by Angel investment and mentor capital firm that works aligning technology creators, industry, entrepreneurs, in close collaboration with entrepreneurs, investors, and capital sources behind the funding and mentoring of and board members. Focused on start-ups and seed investments. high-growth companies. www.kickstartseedfund.com www.reescapital.com

Mercato Partners Renewable Tech Ventures Growth equity investors with expertise in sales and Early stage and growth stage venture fund investing in marketing who invest in high growth tech and renewable energy, clean technology, energy consumer businesses, bringing expertise in sales conservation, green materials and other technologies. execution and channel expansion. www.renewablevc.com www.mercatopartners.com

Business Resource Guide | Green River, Utah Page | 17 Capital Investors

Sentry Financial University Venture Fund Provides capital and related services to—and Invests in compelling new technologies, high growth sometimes operate—businesses worldwide that are opportunities, and stable cash flowing businesses sustainable, have high growth potential, and positively across a broad range of industries and sectors. impact our world. www.uventurefund.com www.sentryfinancial.com Utah Angels 2 Signal Peak Ventures Experienced high-tech executives and entrepreneurs Investing in early-stage tech companies in underserved looking to invest time and money to develop cutting markets, helping entrepreneurs build enduring value. edge businesses. www.spv.com/home http://ua2.co/

SLC Angels Utah Capital Investment Association of accredited investors based in Salt Lake Assists Utah entrepreneurs and companies with City that provide mentoring and invest in promising advice, strategy, and capital introductions. early-stage, high-tech companies with substantial http://utahcap.com/ growth potential. www.slcangels.com Zetta Venture Partners Invests in AI-first companies with B2B business Sorenson Capital models, with $1-3 Million in pre-traction, post data Offers flexible growth financing for minority or majority startups. positions. After investing, they believe in building strong www.zettavp.com partnerships rooted in collaboration and trust. www.sorensoncapital.com

If you don’t know where you are going, you’ll end up someplace else. -Yogi Berra-

Photo Credit: Tom Till

Business Resource Guide | Green River, Utah Page | 18 Government Loan Programs

GOVERNMENT LOAN PROGRAMS Business loans allow the business owner to obtain capital, and then repay it along with interest per the terms of the loan. Loans range in size from hundreds of dollars to millions, from providers in the government, local lending institutions, and online companies.

Small Businesses Rural Community Assistance Corporation (RCAC) Small Business Loans Utah Certified Development Company Assists businesses located in rural communities retain (504) Loan Program or create jobs by offering short-term loans for working Provides growing businesses with long-term, fixed-rate capital and lines of credit; and long-term loans for real financing for major fixed assets, such as equipment estate and equipment. Amount varies. or real estate. Eligible business are for-profit and fall www.rcac.org/lending/small-business-loans/ within SBA size standards. Amount varies. www.utahcdc.com SBA Surety Bonds Many public and private contracts require surety bonds 7(a) Small Business Loans to guarantee that the work will be completed. The SBA Provides financing to for-profit businesses that meet guarantees surety bonds for certain surety companies, SBA size standards, do not have the internal resources which allows the companies to offer surety bonds to (business or personal) to provide the financing, and small businesses that might not meet the criteria for are able to demonstrate repayment. Variations of other sureties. Amount varies. SBA's 7(a) loan program may require additional eligibility www.sba.gov/funding-programs/surety-bonds criteria. Amounts between $500 - $5,500,000. www.govloans.gov/loans/loan-details/1497-4735-1499- 4366-1501 SBA Loan Assistance Program The SBA sets guidelines for loans made by its partnering lenders, community development Economic Development Administration (EDA) organizations, and micro-lending institutions. The SBA Revolving Loan Fund (RLF) Program reduces risk for lenders and makes it easier for them to Under Economic Adjustment, the EDA administers its access capital. Amount varies. RLF Program, which supplies small businesses and www.sba.gov/funding-programs/loans entrepreneurs with the gap financing needed to start or expand their business.Amount varies. www.eda.gov/rlf

Business Resource Guide | Green River, Utah Page | 19 Government Loan Programs

Rural Businesses Other Businesses

Business & Industrial Loans Utah Microloan Fund This program provides loan guarantees that enable Provides business training and small business loans to commercial lenders to provide affordable financing for entrepreneurs in under-served communities in Utah businesses in eligible rural areas. A borrower's business that do not qualify for traditional funding sources. must: provide employment; improve the economic or Up to $50,000. environmental climate; promote the conservation, www.wbcutah.org development, and use of water for aquaculture; or reduce reliance on nonrenewable energy resources by encouraging the development and construction of Microloan Program renewable energy systems. Amount varies. The SBA makes funds available to non-profit organiza- www.rd.usda.gov/programs-services/business-industry- tion Microlender Intermediaries which, in turn, make loan-guarantees loans to eligible borrowers. The average loan size is $13,000. Applications are submitted to the local intermediary and all credit decisions are made on the Utah Rural Jobs Program local level. Up to $50,000. Enables eligible small businesses located in a rural www.govloans.gov/loans/loan-details/1497-4735- county to expand and create high wage jobs by 1499-4366-1501 providing flexible and affordable capital. Up to $5,000,000. www.business.utah.gov/rural Community Advantage Program Financing for women, veterans, low-income borrowers, and minority entrepreneurs just starting up or in Rural Business Development Loan & Grant business for a few years. Receive free business Program (RBDG) counseling as you work with a community-based USDA RBDG is designed to provide technical assistance financial institution. Amount varies. and training for small rural businesses with less than www.sba.gov/funding-programs/loans 50 workers and less than $1 million in gross revenue. The applicant must be a rural public utility intermediary. Contact the City of Green River if you are interested in this program. Amount varies. www.rd.usda.gov/programs-services/rural-business- development-grants

Business Resource Guide | Green River, Utah Page | 20 Private Business Loan Providers PRIVATE BUSINESS LOAN PROVIDERS Many lending institutions provide business loans, three located in Utah are in the table below. Utah Loan Providers Mountain West A not-for-profit finance intermediary that works with local lending institutions, community economic development agencies, and business owners to facilitate access to capital for growth, expansion and job creation. Provides financing for land, building, remodels, and equipment purchases. www.mwsbf.com

Zion's Bank A bank that provides business lines of credit and business loans. www.zionsbank.com/LandingPages/Business-access-loan

America First Credit Union A credit union with a variety of business offerings, including SBA low-rate business loans. www.americafirst.com/business/business-loans.html

Online Loan Providers There are many online business loan providers. The list below provides a selection of online sources for business loans along with the loan sizes they offer.

Kabbage Reliant Funding $2,000 - $250,000 $5,000 - $500,000 www.kabbage.com www.apply.reliantfunding.com

Lendingtree Fundbox $5,000 - $1,000,000 $1,000 - $100,000 www.lendingtree.com www.fundbox.com

Ondeck Rapid Finance $5,000 - $500,000 $5,000 - $1,000,000 www.ondeck.com www.rapidfinance.com

LoanBuilder Torro $5,000 - $500,000 $5,000 - $1,000,000 www.loanbuilder.com/lb/home www.gotorro.com

Lendio Become $1,000 - $5,000,000 $5,000 - $500,000 www.lendio.com/ www.become.co

Business Resource Guide | Green River, Utah Page | 21 Crowdfunding

CROWDFUNDING

Crowdfunding, like grants, do not require any repayment and is a way to raise a small amount of capital from a large group of people. Total funding capability varies depending on the campaign. There are a variety of websites that serve as Crowdfunding platforms, each with their own specific focus.

Kickstarter FundRazr Helps artists, musicians, filmmakers, designers, and Fundraising platform that helps individuals and other creators find the resources and support they organizations raise money for causes they care need to make their ideas a reality. about. www.kickstarter.com www.fundrazr.com

IndieGoGo Start Some Good Online marketplace for clever and unconventional Cause-driven crowdfunding, innovative partnerships things that provides entrepreneurs with a platform and social entrepreneur education. to launch new and groundbreaking products in tech, www.startsomegood.com design, etc. before they go mainstream. www.indiegogo.com

Patreon Platform that enables fans (or patrons) to pay and support artists for their work. Allows creative producers to earn extra money on what might otherwise be free content,and allows fans to contribute to their favorite artist's platform. www.patreon.com

Someone’s sitting in the shade today because someone planted a tree a long time ago. -Warren Buett-

CONAE BLACK ADAM HUGHES Green River City Administrator Better City

435-564-3448 801-332-9006 [email protected] [email protected]