We are here to help navigate you through the process of finding and securing the financial assistance necessary to launching your startup or expanding your operation. Below, you will find a variety of programs for eligible businesses seeking financing.
The Wyoming Business Council can partner with a local economic development organization to create combined loan proceeds that assist a business (third-party loan recipient). The state portion of the matching funds must be secured, cannot exceed $500,000 and have a maximum loan term of 10 years.
The Wyoming Business Council can partner with a commercial lender on loans that have a federal guarantee, such as SBA or USDA, so that combined proceeds assist a business (third-party loan recipient). The state can participate in up to 50% of the note (maximum of $2 million).
The Wyoming Business Council can participate with a local lender on a loan to a building owner for building improvements to maintain the structure’s historical character. The state’s portion of the participation may be up to 75% of the loan (maximum of $100,000) in a shared note and collateral position with the local lender.
The Challenge Loan statute allows a business or group of businesses to apply to the Wyoming Business Council for an Economic Disaster declaration. If the request is approved, affected individual businesses then may apply for direct Challenge loans in the amount of their actual dollar loss in order to spread their losses over several years to maintain operation.
This program allows for a direct loan to a business for the purpose of financing qualifying costs to install a functioning natural gas filling station to fuel motor vehicles that operate on natural gas as a transportation fuel.
The Economic Development Large Project program authorizes the Wyoming State Treasurer to lend funds for the benefit of proposed or existing Wyoming businesses. The loan may finance the purchase, construction and installation of buildings or equipment that will add economic value to goods, services or resources within the state of Wyoming.
Current rules for the Large Project Loan Program can be found at: https://rules.wyo.gov/
The Wyoming Small Business Investment Credit (SBIC) program provides an alternative source of capital to Wyoming small businesses and entrepreneurs.
The Wyoming Business Council does not fund the capital needs of the small businesses but helps navigate the SBIC process.
Wyoming producers, producer groups, and agribusiness entities may work with their lenders to apply for the Value-Added Agriculture Loan program. The bank is the applicant and the producer, producer group or agribusiness entity is the beneficiary.
Funds may be used for machinery, equipment, and facilities necessary in the processing or packaging of an agricultural commodity.
Funds may not be used to finance working capital, for production-related expenses, or to refinance existing debt.