Overview
Businesses interested in this program must work with a qualified, local Economic Development organization or local bank, as the loan applicant is a local commercial lender. This program is administered by the Wyoming Business Council and can loan directly to a business if that business helps the Council meet it’s legislative goals, namely the creation of primary jobs, diversification of the Wyoming economy, increased tax base, etc.
Amounts & Interest Rates
The maximum loan amount is $250,000 and must be matched with local dollars. 20% equity is required of the borrower. The minimum interest rate is 5%, with personal guarantees required from the business principals. The program is considered “bridge financing” and is not to exceed 60% of the project cost, 50% for Start-ups. Contact.