Wyo. Code R. 060-0003-43
Loan and Investment Board
Chapter 43: Small Business Emergency Bridge Loans
Effective Date: 01/23/2026 to Current
Rule Type: Current Rules & Regulations
Reference Number: 060.0003.43.01232026
Section 1. Authority. This Chapter is adopted pursuant to Wyoming Statute (W.S.) 11-52-102(b)(i).
Section 2. Definitions. In addition to the definitions in Chapter 1, as used in this Chapter:
(a) 'Business days' means Monday through Friday, except for federal or state holidays.
(b) 'Financial Institution' means a bank or credit union having a place of business within this state and that is chartered under state or federal law.
(c) 'Fund' means the small business emergency bridge loan account created pursuant to W.S. 11-52-102(f).
(d) 'Natural Disaster' means an extreme event caused by natural environmental factors that overwhelms local resources and threatens the safety and function of a community or business, including but not limited to, blizzards, droughts, earthquakes, floods, pandemics, tornados, wildfires, and failures of infrastructure.
(a) Loans shall be made in such a manner and to such parties as shall, in the judgment of the Director, represent a prudent investment of state funds.
(b) The small business emergency bridge loans program is not intended to benefit businesses engaged in loan packaging, offering or providing short-term rentals, speculation, multi-sales distribution, gaming, investing, lending or any activity that violates state or federal law.
(a) To be eligible for a loan under this Chapter:
(i) The applicant must be legally established and in operation prior to the natural disaster occurring;
(ii) The applicant must be physically located and doing business within the area(s) for which the Governor has declared a natural disaster;
(iii) The applicant must have one (1) or more persons who own not less than fifty percent (50%) of the business, who can apply for the loan and who must serve as guarantor for the loan;
(iv) The applicant and guarantor, must have a credit score of not less than five hundred fifty (550);
(v) The applicant must not be on probation or parole at the time of application; and
(vi) The applicant must be in compliance with all applicable reporting requirements with the Wyoming Secretary of State.
(a) Funds may only be used to cover costs for business purposes, which may include, but are not limited to;
(i) Fencing repair; (ii) Replacement of livestock; (iii) Replacement of buildings or shelters; (vi) Business vehicles; (v) Inventory replacement; (vi) Equipment damaged or destroyed in the natural disaster; (vii) Leasing land for business purposes; (viii) Necessary trucking and transportation expenses; and, (ix) Temporary facilities for the business to operate.
(a) Financial Institutions will register with the Office to be eligible to assist borrowers. The Office will maintain a list of registered Financial Institutions on the Office's website and any other locations deemed appropriate.
(b) No less than annually, the Office will review the list of registered Financial Institutions to ensure they are still eligible to be on the list.
(a) Applications.
(i) Applicants may submit multiple loan applications in response to any Governor declared natural disaster, but in no case shall the aggregate sum of all applications exceed seven hundred fifty thousand dollars ($750,000.00).
(ii) Applications must be submitted directly to a registered Financial Institution. Upon receipt of a completed application and all required documentation the financial institution will complete a detailed evaluation and provide a funding recommendation to the Office.
(iii) All applications must be properly executed by the applicant.
(b) Timing. Applications may be submitted no later than twenty-four (24) months after a natural disaster has been declared by the Governor.
(c) Required Information. The following information shall be provided by all applicants to their chosen registered Financial Institution:
(i) An application on a form prepared by the Office and provided to the registered Financial Institution of choice, completed by the applicant;
(ii) Copies of financial statements for the past three (3) years for the applicant and any guarantors;
(iii) Copies of approved budgets for prior and current fiscal years, if available;
(iv) Copies of business formation documents;
(v) Copies of any revenue generating contracts;
(vi) Detailed budget delineating all costs for which the loan funds will be utilized and the method by which the costs were estimated;
(vii) Detailed list of all assets owned by the applicant at the time of the natural disaster; and,
(viii) Any other document required by the registered Financial Institution.
(d) Additional Information Required: If the funding request is for the purchase of a building, a market analysis must be completed and submitted with the application to determine the fair market value. Office staff shall review and approve the methodology used for valuation and the overall market value prior to loan funds being disbursed
(e) False or Misleading Statements.
(i) Any false or misleading statements made by the applicant in an application shall be grounds for summary rejection of the application.
(ii) Any reports on spent loan funds that are determined to be false or misleading or are ultimately ineligible after the funds have been disbursed shall result in the entire outstanding loan balance being called and must be paid back to the Office within thirty (30) Business Days following notification.
(f) Incomplete Applications. Applications that are missing one (1) or more of the information items requested shall not be considered by the Office for funding.
(g) Summary Rejection. The Office shall summarily reject all applications that are clearly ineligible under this Chapter.
(a) Criteria. The Office shall evaluate applications utilizing the following criteria:
(i) Funding recommendation provided by the reviewing registered Financial Institution, including any terms and conditions that should be included in the loan;
(ii) Applicant’s need;
(iii) Applicant’s ability to repay the loan;
(iv) Eligibility of the proposed use of the Funds; and
(v) Availability of the Funds.
(b) Within five (5) business days of receiving the funding recommendation from the registered Financial Institution, the Office shall review the funding recommendation and ensure the eligibility of the applicant.
(c) After the Office has determined the applicant to be eligible, the Director may approve the application.
(d) Loans approved by the Director do not require subsequent approval by the Board.
(a) Amount. The maximum loan amount for a single Applicant shall be seven hundred fifty thousand dollars ($750,000.00).
(b) Interest rate. The interest rate for loans under this Chapter shall be pursuant to Chapter 14 of the rules established by the Board and a two percent (2%) origination fee shall be collected on the approved loan amount.
(i) The Office will pay one percent (1%) of the origination fee from the Fund.
(ii) The Applicant will pay the remaining one percent (1%) of the origination fee from the loan proceeds.
(c) Length. The term for each loan shall be set by the Office with due regard given to repayment ability and the security offered, but in no event shall any term exceed three (3) years.
(d) Repayment. Payments shall be made in accordance with the agreed upon terms within the executed loan documents.
(a) Every loan shall be evidenced by a promissory note for the principal sum of the loan.
(b) Loans shall be adequately secured to the Office's satisfaction. Loans must be fully secured with:
(i) Insurance proceeds or other anticipated funds that the business will receive as a result of the natural disaster;
(ii) A mortgage on other land or property that covers all or part of the loan;
(iii) Equipment;
(iv) Assets owned by the business.
(v) Pledge of other available revenues to the borrower; or
(vi) Any other security deemed adequate to secure repayment of the loan.
(c) If an appraisal or market analysis is required, the applicant shall be responsible for ensuring one is completed prior to submitting a loan application.
(i) Office staff shall review and approve the methodology used for valuation and the overall market value prior to loan closing.
(a) Ineligible Project Costs. The following is a non-exclusive list of costs ineligible for reimbursement from the Fund:
(i) Expansion of the business operations;
(ii) Purchase of additional property not owned prior to the natural disaster;
(iii) Purchase of additional equipment not owned prior to the natural disaster.
(iv) Any use that disregards or violates conflict of interest requirements, or other federal, state, and local laws and regulations; and,
(v) Reimbursement to donors for donated items or services.
(a) Requests for disbursements shall be on a form provided by the Director and include supporting documentation establishing the eligibility of costs for which the loan funds will be utilized. Loan proceeds will only be disbursed for eligible project costs as set forth in this Chapter and within established guidelines following review by the Office.
(b) The Office shall inspect and verify any reports and records required by the Director and submitted by the borrower before proceeds shall be released.
(a) Any grants, gifts or other funds received to be included in the Fund will be awarded on a pro-rata basis for the loans awarded in response to the specific natural disaster for which it was donated.
(b) Any grants, gifts or other funds an individual would like to make to a particular borrower will not be accepted by the Office. These must be given by the donor directly to the specific borrower.
(a) Annually, before October 1 of each year, the Office shall review the program and report to the Board, joint appropriations committee, joint agriculture, state and public lands and water resources interim committee on the loans made under this Chapter, all outstanding loan commitments, repayments received and the balance of the Fund.
(b) Annually, before September 1 of each year, all borrowers with an outstanding loan must report to the Office the amount of loan funds spent in the prior twelve (12) months and what the funds were spent on.
(c) Applicants shall comply with all federal and state reporting requirements.
(a) The Board may, at its expense, conduct an independent audit of the records of the applicant and inspect the items purchased or operations of the business.