Go to Saved Content Saved

Commercial Affordability Program

Eagle Mountain City’s Commercial Affordability Program (CAP) is designed to assist home-based entrepreneurs and micro-businesses in establishing their first brick-and-mortar location.

The program provides forgivable loans, along with technical and operational support, to reduce startup barriers, encourage long-term business sustainability, and enhance Eagle Mountain’s commercial sector.

key information

Overview

  • Forgivable loans up to $75,000 per business
  • 2–3 businesses funded per year during the pilot phase
  • Annual budget: $150,000
  • Funds may only be used for build-out, ADA/code compliance, equipment, utilities, signage, and furnishings directly related to the business launch
  • Ineligible expenses: wages, working capital, inventory for resale, personal expenses

Eligibility

To apply, businesses must:

  • Be first-time commercial tenants (never operated a storefront elsewhere).
  • Be headquartered in Eagle Mountain with no other commercial locations.
  • Be a microenterprise: five or fewer employees, including the owner(s).
  • Be independently owned (no national chains; local franchises considered case-by-case).
  • Complete the SBDC “How to Start a Business 101” and “Marketing Fundamentals” training.
  • Provide a business plan, use-of-funds proposal, proof of LMI status (≤80% AMI), business license, and incorporation documentation.
  • Agree to participate in quarterly check-ins, mentorship, and a public business pitch.
Household Size30% AMI50% AMI60% AMI80% AMI
1$24,930$41,550$49,860$66,500
2$28,500$47,500$57,000$76,000
3$32,070$53,450$64,140$85,500
5$35,610$59,350$71,220$94,950
5$38,460$64,100$76,920$102,550
6$41,310$68,850$82,620$110,150
7$44,160$73,600$88,320$117,750
8$47,010$78,350$94,020$125,350

Application

Submit your application online:

Application

Required Documents:

  • Business Plan & Use-of-Funds Budget
  • Proof of Owner Equity in project
  • Proof of LMI status
  • Documentation from SBDC Readiness Training
  • Letters of intent from landlords (if available)
  • Business license and incorporation documentation

Public Business Pitch:

  • Selected applicants present their business plan (15 min pitch + Q&A)
  • Scoring panel and public observers attend for transparency
  • Helps applicants gain community support and receive direct feedback

Evaluation & Scoring

Applications are scored using the following criteria:

  • Business Viability (30 pts): Feasibility, plan quality, local demand
  • Community Impact (20 pts): Job creation, civic engagement
  • Readiness & Commitment (20 pts): Owner equity, speed to open
  • Education & Preparedness (15 pts): Training, HR & regulatory knowledge
  • Location Feasibility (15 pts): Build-out readiness
  • Bonus Points (up to 15 pts): Minority/woman/veteran ownership, sustainability, landlord TI contributions

Minimum threshold for consideration: 70/100 points

Loan Forgiveness Criteria

  • Maintain business at approved location for two years
  • Participate in quarterly check-ins with City staff
  • Maintain complete records of all program fund expenditures
  • Comply with all federal, environmental, and labor requirements

Failure to meet criteria may result in the loan converting to a repayable, interest-free loan for 24–36 months.

Support & Compliance

  • Quarterly Check-Ins: Mentorship, site visits, financial review
  • Davis-Bacon Compliance: For construction exceeding $2,000
  • Environmental Review: Required prior to contract execution

Transparency & Equity

CAP prioritizes:

  • Minority, woman, and veteran entrepreneurs
  • Sustainable business practices
  • Community engagement and transparency in awarding loans

Appeals: Denied applicants may submit a written appeal within 15 business days.

Timeline

Oct. 23 from 1 p.m. – 3 p.m. – Open house at Valley Crossroads Chamber of Commerce – (3688 E Campus Dr #101, Eagle Mountain, UT 84005).

Nov. 5 from 6 p.m. – 8 p.m. – Open house at Eagle Mountain City Hall Library – (1650 Stagecoach Run, Eagle Mountain, UT 84005).

CAP Pitch: Eagle Mountain Edition – Think Shark Tank, but hometown style. Applicants will present their business for funding consideration through the CAP program.

Pitch event date coming soon.

Let’s get you started

Apply for CAP

Take the next step toward your first storefront by applying for the Commercial Affordability Program.

Apply Now

Frequently Asked Questions

CAP is for first-time brick-and-mortar businesses in Eagle Mountain City with 5 or fewer employees, including the owner(s). Applicants must be independently owned (no national chains) and meet low-to-moderate income (≤80% AMI) criteria. Completion of SBDC training is also required.

Funds may only be used for commercial space build-out, ADA/code compliance, utilities, signage, equipment, and other furnishings directly related to the business launch. Funds cannot be used for wages, inventory for resale, working capital, or personal expenses.

Yes. The loan is fully forgivable if the business remains in operation at the approved location for at least 2 years, participates in quarterly check-ins, and complies with all program and federal requirements. Failure to meet these criteria converts the loan to a repayable, interest-free loan for 24–36 months.

Applicants submit an online form with required documents including business plan, use-of-funds budget, proof of LMI status, SBDC training documentation, and business licenses. Qualified applicants will then present a 15-minute public pitch to the city’s scoring panel.

Denied applicants may appeal in writing within 15 business days. Appeals are reviewed by the City’s Economic Development Department and an independent panel. Decisions from the appeal panel are final and binding.