Financing

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WYOMING BANKS PARTICIPATING WITH SBA!

Local Financing Information Resources

Small Business Investment Companies

The Small Business Investment Company (SBIC) program. SBICs, licensed by the Small Business Administration, are privately organized and privately managed investment firms. They are participants in a vital partnership between government and the private sector economy. With their own capital and with funds borrowed at favorable rates through the Federal Government, SBICs provide venture capital to small independent businesses, both new and already established.

Certified Development Companies

The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community or region. CDCs work with the SBA and private-sector lenders to provide financing to small businesses. There are about 290 CDCs nationwide. Each CDC covers a specific area.

Preferred/Certified Lenders

The most active and expert SBA lenders qualify for the SBA's Certified and Preferred Lenders Program. Participants are delegated partial or full authority to approve loans, resulting in faster service to the applicant.

Certified lenders are heavily involved in regular SBA loan guarantee processing, and they meet certain other criteria. They receive a partial delegation of authority and get a 36-hour turnaround on loan applications (they may also use regular processing). Certified lenders account for 10 percent of all SBA business loan guaranties.

Preferred lenders are chosen from among the SBA's best lenders and enjoy full delegation of lending authority. This authority must be renewed at least every two years, and the SBA will periodically examine the lender's portfolio. Preferred loans account for 18 percent of SBA loans. For more information about specific certified and preferred lenders in your area, contact the Wyoming District Office at (307) 261-6500 or email at sbawyo@sba.gov  

Also see:

SBA's National HUBZone site for a description of the HUBZone Program, including how to find out if you are located in a HUBZone, and how to apply for HUBZone Certification.

Financing Your Business

SBA Loan Programs