The loans are at a low interest rate of 4%, payable over a maximum of fifteen (15) years. The maximum loan is one hundred thousand dollars ($100,000) per successful applicant.
Applications for the Revolving Loan Fund are received on a rolling basis. There is no deadline – applications will be accepted until funds are exhausted, but we recommend applying soon!
What You Need to Do:
1. Please complete the three documents that are accessible from this page: Wyoming Main Street Revolving Loan Certification, Wyoming Main Street Revolving Loan Application, Wyoming Main Street Revolving Loan Checklist.
2. Enclose all other materials as required by application, certification and checklist.
3. Send to Wyoming Main Street, 214 W 15 St, Cheyenne, WY 82002.
What We’ll Need to Do:
1. The “Contact Person” listed on the application will get a phone call for confirmation of receipt.
2. The application loan will be screened by an accredited financial institution.
3. If the application loan fails to pass the screening, we will notify the Contact Person. If the application loan passes the screening, it will then go to the Wyoming Main Street Revolving Loan Fund Sub-Committee.
4. The Wyoming Main Street Revolving Loan Fund Sub-Committee will make a recommendation based on the application materials and accredited financial institution screening to the Wyoming Business Council Board of Directors.
5. The WBC Board of Directors will make a final decision at their next quarterly meeting. The 2008 meetings are: March 26, June 5, Sept. 11 and Dec. 4.
6. The Contact Person will then be notified of the status of their Wyoming Main Street Revolving Loan Fund application.
Expected time frame for this process is four to six weeks |
