Wyoming Smart Capital Network Collateral Support Program
Green River is a member and local businesses are eligible to seek funding through Wyoming Smart Capital Network Collateral Support Program (WSCN).
Leverage your borrowing power with Collateral Support.
The purpose of WSCN is to create jobs by helping businesses access capital. The program is funded by the U.S. Department of Treasury by the Small Business Jobs Act of 2010. The program allows WSCN to pledge a CD as collateral on a business’s behalf for up to 50% of the loan amount.
Eligibility Requirements:
• Business is located within the geographic boundaries of one of the participating municipalities.
• Business has fewer than 500 employees.
• Borrower who is not an executive officer, director, or principal shareholder of the participating lender or has a related interest in or is immediate family member of an executive officer, director, or principal shareholder of the participating lender.
• Any entity whose principals have not been convicted of a sex offense against a minor.
Use of Funds and Terms:
• Business working capital loans with terms of 12 to 18 months.
• Maximum loan amount $1,000,000.
• Funds cannot be used for charities and nonprofits, refinancing existing debt, change of ownership, owner reimbursement, delinquent taxes, passive or investment real estate speculative activities, lending, pyramid schemes, illegal activities, gambling establishments, or other uses prohibited by State Small Business Credit Initiative.