Micro-Loan Program

The WWBC offers loans up to $50,000.00 to start or expand Wyoming businesses. Our interest rates range from 6.0% to 9.5% depending on overall risk. The repayment may occur over a period not to exceed 6 years and will be determined by the WWBC staff based upon the loan amount, use of funds, collateral, and repayment source. Our application fee is $50.00 and is used to cover the cost of credit reports and initial processing and must be submitted with the loan application which can be downloaded by clicking the link below. Also, please view our checklist to insure you submit everything necessary to begin the loan review process. Missing items may cause your application to be put on hold until everything is received.

All loans must be secured with collateral. Collateral can include anything from business assets, vehicles, personal assets, liens on homes or other property. Assets with liens by other financial institutions may be considered but it will be the applicant’s responsibility to contact the current lien holder to verify they will allow the WWBC to obtain documents (example: original vehicle title) necessary for securing our lien.

We will pull a tri-merged credit report on every applicant / co-applicant. We understand some circumstances in which credit is damaged however we will require written explanations for all negative items reported. Borrowers are not allowed to have any outstanding judgments, collections or past due items at the time of loan closing. If you have a bankruptcy in your past it must have been discharged at least 2 years ago and you must have demonstrated proper credit usage since that time.

We require a written business plan including adequate research to reasonably project sales with enough income to show an ability to repay the loan being requested. Our business counselor is available to assist you in preparing your business plan for consideration. Please contact our office to setup a time by calling (307) 460-3943.

We will also look at personal financial information when making our lending decision. Each applicant / co-applicant must submit their last 2 years personal (and business if you operate as something other than a sole proprietor) tax returns. If your income has or will change (for example you plan to cease your current employment immediately to start a business) also submit a written explanation of changes in income that would affect your ability to qualify for a loan.

You must have applied with a traditional financing institution and have been declined or offered insufficient loan terms which will not allow for your business to succeed.

Please contact Waldo Smith, Director of MicroLending at (307) 760-2698 or wsmith34a@uwyo.edu if you have any questions or need assistance determining what documentation will be required for your situation.

Checklist for Submitting Loan Application:

Client Intake Form

(click here for download)

Loan Application

(click here for download)

Application Fee ($50 made out to WWBC)
Business Plan w/ financial projections
Copy of Last 2 Years Personal Tax Returns
Copy of Last 2 Years Business Tax Returns (if already in business & not a sole proprietor)
Decline Letter or explanation for why credit is not available to you elsewhere
Documentation supporting collateral (copy of titles, purchase invoices, appraisals, etc as appropriate)

Please contact Waldo Smith, Director of MicroLending at (307) 760-2698 or wsmith34@uwyo.edu if you have any questions or need assistance determining what documentation will be required for your situation.