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Ogden City considering small business loan bump

February 07, 2019 / MITCH SHAW
SHARESHARESHARE

Small business owners in Ogden could soon be beneficiaries of a proposed change in a city-run loan program.In a city council work session earlier this week, Ogden Community Development Manager Ward Ogden said the city administration is proposing a change to its Microenterprise Loan Program that would bump the maximum loan amount in the program from $20,000 to $90,000 and increase the loan repayment term from five to 10 years.According to city council documents, the change is intended to make the microenterprise program more closely resemble the terms of the city’s Small Business Loan program, which provides financing for small businesses applying for loans between $5,000 and $90,000.