Capital for Utah operators
from the Wasatch to the red rock.

Utah has quietly become one of the most economically dynamic states in the country. The Silicon Slopes corridor through Lehi and Draper is home to Adobe's Utah campus, Qualtrics, Pluralsight, Domo, Ancestry, Entrata, and dozens of mid-cap SaaS and fintech employers — a tech cluster that has grown faster than almost any other in North America over the last decade. The Wasatch ski economy through Park City, Deer Valley, Snowbird, Alta, Solitude, and Brighton anchors one of the most concentrated luxury winter-resort markets in the United States. Aerospace and defense at Hill AFB and Northrop Grumman's Promontory operations, the long-running mining economy at Bingham Canyon, healthcare anchored by Intermountain Health and University of Utah Health, and a financial-services back-office economy through Goldman Sachs and Morgan Stanley in downtown Salt Lake round out the major anchors.

Our Utah pipeline reaches every region. Along the Wasatch Front we fund operators across Salt Lake City, West Valley City, West Jordan, South Jordan, Sandy, Draper, Murray, Taylorsville, Bountiful, Layton, Ogden, Provo, Orem, Lehi, American Fork, and Pleasant Grove. The Park City and Heber Valley resort corridor brings us a deep hospitality and outdoor-recreation book. Southern Utah adds St. George, Hurricane, Cedar City, and the Moab adventure economy. Cache Valley to the north brings us Logan and the agricultural economy around it. Rural Utah adds the small-town service economies along I-15, I-70, and US-191.

The bank-lending coverage gap in Utah

Utah has a stronger regional banking presence than most states its size — Zions Bank is headquartered in Salt Lake and a dense industrial bank charter ecosystem has long operated through the state — but the small-business credit gap is still acute. Most underwriting at major institutions concentrates on commercial real estate, large commercial deposits, and high-net-worth clients rather than on the $50K to $500K working-capital tickets the state's small businesses actually need. A Sugar House restaurant, a Lehi contractor, a Park City retailer, a Provo medical group, a St. George auto shop — strong, deposit-rich businesses — frequently cannot get a fast yes from a bank. We close that gap.

We are deposit-based underwriters. We read your four most recent months of business bank statements, your ledger, and how you actually operate. We do not require two years of tax returns, audited financials, or a 720 FICO. That approach fits Utah's mix because it accommodates the cash-heavy downtown SLC restaurant, the receivable-heavy West Valley logistics operator, the project-based home-builder in Lehi, and the platform-heavy DTC outdoor brand shipping out of Ogden on the same underwriting bench.

Utah's industry mix, the way we see it

Silicon Slopes tech and the Wasatch ski economy dominate the headlines and matter enormously to state GDP, but most software companies and resort holding entities do not fund through us. Where we play heavily is the operating economy underneath those anchors: the restaurants, hotels, contractors, retailers, medical and dental practices, ski and outdoor outfitters, and logistics businesses that move Utah day to day. Outdoor-recreation outfitters and DTC outdoor brands are a meaningful slice, as are aerospace-supply-chain contractors orbiting Hill AFB and Northrop, and the long tail of professional services firms in every metro.

Utah is best understood as a long Wasatch Front megalopolis stretching roughly from Ogden through Provo, a Park City-Heber resort enclave on the east side of the Wasatch, a southern Utah tourism and retirement economy around St. George, and a Cache Valley economy to the north. Below is how the major regions break down in our book.

Salt Lake City

Salt Lake City is the largest single Utah market in our book. We fund operators across downtown, Sugar House, the Avenues, the 9th and 9th and 15th and 15th corridors, Liberty Park, Glendale, and the Granary District. The industry mix is unusually broad: restaurants and bars, hospitality, construction and trades riding the metro build cycle, healthcare practices anchored by University of Utah Health and Intermountain, beauty and wellness, specialty retail, and the long tail of service businesses orbiting the Silicon Slopes employers and the downtown financial back offices.

Lehi, Draper, and Silicon Slopes

Lehi and Draper anchor one of the densest tech-adjacent small-business markets in the western United States. Adobe's Lehi campus, Qualtrics, Domo, Pluralsight, Entrata, and dozens of mid-cap SaaS employers create a deep operating economy of restaurants, contractors, dental and medical practices, professional services, and high-end retail. Ticket sizes in Utah County tend to skew larger than the state median because operating costs and average revenue per location are materially higher.

West Valley City and West Jordan

West Valley City is the second-largest city in Utah and brings us a deep industrial, logistics, automotive, and contractor book. West Jordan and South Jordan add restaurant, retail, healthcare, and trades business serving the southwest Salt Lake Valley's residential growth. The southwest valley is one of the fastest-growing residential corridors in the country and our contractor book there has grown accordingly.

Provo and Orem

Provo-Orem is anchored by BYU, UVU, and a startup ecosystem that has produced multiple unicorns. We fund a deep restaurant and retail book on University Avenue and Center Street, healthcare practices, contractors riding the south Wasatch build cycle, and the service businesses orbiting the universities and the tech employers. Adobe, Vivint Smart Home, and a dense mid-cap SaaS layer drive operating-economy demand.

Park City and the Wasatch Back

Park City is one of the most concentrated luxury winter-resort markets in the western United States. Deer Valley, Park City Mountain Resort, the Sundance Film Festival, and the Heber Valley anchor a deep hospitality and outdoor-recreation book — lodging operators, restaurants, outfitters, ski schools, equipment rentals, transportation services, and the contractor base building out the Heber Valley's residential expansion. Ticket sizes here skew well above the state median.

Ogden and Northern Utah

Ogden anchors northern Utah and brings us a defense, aerospace, and outdoor-brand operating economy — Hill AFB and the suppliers around it, an outdoor-industry cluster anchored by brands like Skullcandy and a growing manufacturing layer, and a deep downtown restaurant and retail base along 25th Street. Cache Valley around Logan adds an agricultural and university-tied operating economy.