Wyoming introduces new capital source for small businesses
A small business investment company out of Jackson is ready to invest in qualified Wyoming businesses.
The Enhanced Capital Wyoming Fund operates under the Wyoming Business Council’s Small Business Investment Credit Program, which helps Wyoming companies grow and create jobs. To qualify, businesses must by headquartered in the state, and employ fewer than one hundred people, 60-percent of whom must be local.
Credit Program Manager, Ryan Whitehead, says Enhanced Capital is just another alternative to existing capital sources.
“Some small businesses are struggling getting loans from bank because maybe the bank’s too conservative to meet their needs. Through this program we might be able to structure a deal where a bank may not be able to.”
Enhanced Capital has $25 million of capital to distribute in the form of debt or equity financing. The money comes from a $30 million allocation by the Wyoming Legislature.