This Contract Loan program was designed to help Wyoming businesses have a way to take on larger orders by financing the raw materials. Contract Financing Loans provide liquidity to businessesand the business assigns the proceeds of the contract and raw materials as collateral for the financing. This program was set forth by W.S. 9-12-301 (a)(xi) helping Wyoming businesses scale and compete on a larger scale.
Who is Eligible
Businesses that require financing to acquire raw materials to fulfill a large contract
Loan Details
Maximum WBC loan amount of $200,000
Business must contribute 10% or more of the raw materials costs
WBC is listed as a co-payee on the contract with the borrower
Upon final payment of contract, borrower shall pay off principal & interest within 15 calendar days
Maximum repayment term not to exceed 2 years
Fees & Rates
Minimum loan origination fee of 1%
Interest rate range: 4% up to Prime +2
Use of Funds
Strictly for raw materials to fulfill contractual obligations