Loan Program

The Business Ready Community grant and loan program provides a non-recourse loan to assist communities with their development goals. This loan is secured by a pledge of collateral, typically real property. If the borrower defaults, the Business Council can seize collateral, but will not seek any further compensation from the borrower.

Interest Rate and Terms
A Business Ready Community Loan shall be made at the following interest rates as recommended by the Council and established by the Board and reflective of market rates.

(a) A floor of zero percent (0%) for non-revenue generating projects.

(b) A floor of one percent (1%) for revenue generating projects.

(c) Loans have an annual servicing fee of $125 for the life of the loan.

(d) Fees such as origination, documentation, filing appraisal and any additional fees will be paid by the applicant.

(e) The term of the loan will be based upon the useful life of the asset not to exceed 30 years. 

The Wyoming Business Council (WBC) has developed a new Business Ready Communities (BRC) grant and loan program application effective Dec. 1, 2021. This application is better aligned with the State of Wyoming’s economic development strategy, recently adopted program rules and newly established evaluation criteria. Staff also updated the new application to clarify some questions past applicants felt were confusing.