Antonella Packard Named Director of Utah Small Business Credit Initiative

The Governors Office of Economic Opportunity (GOEO) has appointed Antonella Packard as the new director of the Utah Small Business Credit Initiative (USBCI).

The initiative is a federal loan program that includes $69 million in funding to expand access to capital for Utah small businesses, particularly underserved communities. USBCI provides access to capital for small businesses emerging from the pandemic, creating high-paying jobs and building ecosystems of opportunity and entrepreneurship in Utah.

“The Utah Small Business Credit Initiative is in good hands with Antonella Packard. We are thrilled with her experience helping Utah entrepreneurs, understanding business lending and banking, and her ability to reach out to diverse communities,” said Pete Codella, general manager of business services at GOEO. “We thank former USBCI Executive Director, Alecia Hart, for her work in setting USBCI up for success. Through this initiative, in partnership with local lending institutions, the Economic Opportunity office looks forward to serving the borrowing needs of Utah’s small businesses, especially in underserved areas.”

As USBCI Director, Packard is responsible for engaging with stakeholders and partners to administer the federal program. Packard will manage Utah’s new State Small Business Credit Initiative relationship with the U.S. Treasury Department, maintain relationships with other federal, state and community partners, assist in recruiting and enrolling lenders into the program, and the work of the USBCI strengthen teams.

Packard has a wealth of experience in managing relationships with community stakeholders. She was most recently the Director of Community Initiatives, a Senior Business Advisor, and a Loan Officer for the Suazo Business Center.

The Economic Opportunity bureau expects the USBCI program to boost up to $690 million in private investment in small businesses in Utah.