Contract Loan

Contract Financing Loan

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 businesses and 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

John Wendling

307-214-5864

[email protected]

Process

Receive 2 denial letters from banks regarding your request for contract financing
Gather and review all information covered in the application checklist
Submit the application including all items on the checklist
Loan must be approved by the WBC Board of Directors
Funds disbursed, agreements signed, and the loan is closed

Contract Loan

Contract Financing Loan

John Wendling

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