Wyoming is the most sparsely populated state in the Union and the economy is dependent on businesses that are involved in tourism, real estate, and mining—many being small businesses. If you own a company in Wyoming, or you’re thinking of starting one—check out the Wyoming-specific funding options below. These grants and loans are available to businesses that operate within Wyoming borders.
Department or Agency: Wyoming Capital Access
Loan or Grant title: Wyoming Capital Access Direct Loan Program
The Wyoming Capital Access Direct Loan Program provides loans up to $250K to those who plan to start or expand a business within the state. To be eligible, a company must meet the Small Business Association’s small business size standards and must be able to demonstrate both a) a need for funding, and b) the ability to repay the loan.
Department or Agency: Wyoming Business Council
Loan or Grant title: SBIR Matching Grant Program
Any Wyoming-based business that has been awarded funds through the Small Business Innovation Research (SBIR) or the Small Business Technology Transfer (STTR) federal funding programs may be eligible for a grant that matches the SBIR or STTR amounts. (Don’t know what the SBIR and STTR programs are? Take a peek here.) The grant money may be used to explore research and development (R&D) or the tech potential of an organization.
The grant amount is up to $100K for first-time Phase I funding recipients; $70K for repeat Phase I recipients; or $200K for Phase II recipients.
In order to be eligible, the business must:
- Be awarded Phase I or Phase II SBIR or STTR funds after July 1, 2018
- Be headquartered and registered in Wyoming
- Remain in Wyoming for a minimum of three years
- Conduct its research in Wyoming (when possible)
- Seek additional funding
Department or Agency: Wyoming Department of Agriculture
Loan or Grant title: Specialty Crop Season Extension Grant
The Wyoming Department of Agriculture has opened a limited grant window for agricultural businesses to apply for a grant to extend the growing season of specialty crops. The purpose is to fund research projects to extend Wyoming’s short growing season, the results of which will be shared with other producers. Six grants of up to $5,000 are available. Applicants must be registered producers in the State of Wyoming.
Department or Agency: Wyoming Workforce Services
Loan or Grant title: Business Training Grant
Business Training Grants support Wyoming businesses looking to improve employee skills or correct an employee skill deficiency that is needed for their current job. Grant funds must not replace existing funds already earmarked for training purposes, and the skills to be acquired must better position the business to remain competitive in its industry marketplace. Funding limits are as follows: $2,000 per trainee, $3,000 per trainee for select industries, $75,000 per business, with all totals being per fiscal year. See the webpage for full details, checklist, FAQs, and application requirements.
Department or Agency: Wyoming Workforce Services
Loan or Grant title: Internship Grants
Internship Grants support Wyoming businesses in offering structured learning experiences, designed to improve work skills, knowledge, and abilities. Intern hours are capped at 480 over a period of six months, with businesses being reimbursed up to $18/hour. Companies can host up to three internships per fiscal year. There is a short annual application window for this program, so check the webpage for up-to-date deadlines and requirements.
Department or Agency: Wyoming Workforce Services
Loan or Grant title: Wyoming Safety Improvement Fund
The Wyoming Safety Improvement Fund supports businesses looking to improve safety at their organizations through training or the purchase of health and safety equipment. Grants of up to $10,000 are available and require a 10% business match. Businesses must be in good standing with Wyoming Workers’ Compensation, Unemployment Insurance, and with the Wyoming Secretary of State Office. Quarterly deadlines and application information can be found on the program website.
Department or Agency: Wyoming Business Council
Loan or Grant title: Large Project Loan Program
The Large Project Loan Program supports projects with a strong potential to create jobs, increase sales, and be completed as intended. Financing is determined by the amount of economic impact projected over a three-year period. Wyoming businesses with a total project cost of over $5,000,000 are eligible to apply, with the maximum loan amount being $25,000,000. The loan amount mustn’t exceed 75% of the loan-to-value ratio, and a business must fund at least 25% of project costs via non-state funding. Loans may be used for working capital, equipment, inventory, or to purchase real estate or other fixed assets. Learn more on the program website.