Wyoming small business grants, loans and equity programs (2026)

Why Wyoming’s business money flows through banks and investors

The statute shapes everything below. When you ask the WBC for money, it will steer you to a lender or an investor first:

• Loan participations (you repay). The WBC buys part of a loan your bank makes, which lowers your blended rate and the bank’s risk ⁠².
• Equity (you give up ownership). WYVC buys shares in a funding round led by another investor ⁠⁶.
• Reimbursement grants (you pay first). STEP, the Market Expansion Grant and the SBIR match pay back approved costs or match a federal award ⁠⁹⁠¹¹⁠¹².
• Training grants. The Department of Workforce Services (DWS) pays for training your existing employees take ⁠¹³.

Wyoming put its whole SSBCI allocation into venture capital

Most states used their federal State Small Business Credit Initiative (SSBCI) money for loan guarantees or loan-loss reserves. Wyoming did not. The WBC was approved for $58.4 million in 2022 and opened applications for the Wyoming Venture Capital fund (WYVC) on April 2, 2023 ⁠⁵. Treasury’s program list, current as of August 25, 2026, shows only two Wyoming SSBCI programs, Wyoming Venture Funds and Wyoming Venture Direct, and both are equity programs ⁠⁸. A Wyoming bank cannot enroll your loan in an SSBCI guarantee because Wyoming has none.

WYVC Direct holds $35 million for co-investing in Wyoming startups’ pre-seed, seed and Series A rounds ⁠⁶⁠⁷. The terms are strict:

Sources: ⁠⁶⁠⁷

Requests above $2 million get extra due diligence and approval, and a company outside Wyoming qualifies only if it commits to relocating within a year of funding ⁠⁷. The WYVC Funds strategy invests up to $5 million in a venture fund, which must place at least 80% of its investments in Wyoming companies ⁠⁷. WYVC fits a startup that plans to raise outside capital and sell some day. It will not fund a café, a contractor or a ranch.

Bank participation loans from the Business Council

For most small businesses, the WBC’s loan participations are the most useful state tool. You apply at a bank, and the WBC Board of Directors approves its share ⁠².

Scroll the table sideways to see every column.

Sources: ⁠¹⁠²⁠³⁠⁴

Under the 50/50 program, you must put in at least 15% of total project costs and pay an origination fee of at least 1%. The money can cover working capital, equipment, inventory and real estate ⁠². The bank services the loan, so you make one monthly payment. The WBC warns that if you do not ask for the 50/50 program up front, the bank may just offer its regular terms ⁠².

The Succession Loan finances the purchase of a Wyoming business that has operated for at least seven years. The WBC share covers the unsecured “blue sky” part of the price that banks usually will not lend against ⁠³. The Contract Loan is the one direct WBC loan. It pays only for raw materials to fill a large contract, needs two bank denial letters, a 10% contribution from you, and payoff within 15 days of the final contract payment ⁠⁴.

Workforce Development Training Fund grants for employers

The Wyoming Department of Workforce Services runs the Workforce Development Training Fund (WDTF). Its Business Training Grants are the closest thing to a general-purpose state grant for an existing Wyoming business, but they reimburse training only ⁠¹³⁠¹⁴.

• Amounts (current page): $3,000 per trainee per fiscal year, $4,000 in preferred industries, and $75,000 per business per fiscal year ⁠¹³. Older DWS news releases from 2022 show higher limits; rely on the figures on the current program page.
• Preferred industries: construction, energy, manufacturing, healthcare and social assistance, finance and insurance, technology, and hospitality and tourism ⁠¹³.
• Who counts: employees already working and on your payroll. Training must fix a skill gap or upgrade skills for the employee’s current job, and it cannot replace your existing training budget ⁠¹³.
• Timing: apply 30 to 110 calendar days before training starts. Review takes up to two weeks, and DWS will not reimburse costs without a fully signed agreement ⁠¹³.
• New firms: a business less than one year old needs a support letter from a local economic development organization to register ⁠¹⁴.

The WDTF also offers Internship Grants, Apprenticeship Training Grants and a Pre-Hire Economic Development Grant for training new workers in short-supply fields. Since January 1, 2026, all WDTF applications can be submitted at any time during the month ⁠¹⁴. DWS holds open Q&A sessions on November 18, 2026 at 10:00 a.m. and December 9, 2026 at 2:00 p.m. ⁠¹⁴.

Matching a federal SBIR or STTR award

Wyoming’s SBIR Matching Grant Program is a true grant, but you must already hold an active federal SBIR or STTR award. It pays up to $100,000 to match a Phase I award and up to $200,000 to match a Phase II award, with no more than four matches over a company’s life ⁠⁹. At least 50% of your employees must be in Wyoming, and you must commit to raising money beyond SBIR/STTR. Applications are open year-round. Qualified applicants pitch to WBC staff by video, hear back within two weeks, and then sign a contract, which can take 45 days. For three years after the award you file annual reports and must keep a meaningful presence in Wyoming ⁠⁹.

If you have not won a federal award yet, the University of Wyoming’s Wyoming SBIR/STTR Initiative (WSSI) advises on applications and offers training ⁠¹⁵.

STEP or the Market Expansion Grant: two travel-and-marketing grants

Both are reimbursement grants from the WBC, and you cannot combine them for the same costs ⁠¹².

Sources: ⁠¹¹⁠¹²

STEP is funded by a $175,000 SBA grant plus $58,333 in non-federal match for the current period, so money is limited ⁠¹¹. The WBC aims to approve STEP applications within 5 to 10 business days. The Attorney General’s contract review can take up to 30 more working days, and anything you spend before the contract is signed will not be reimbursed ⁠¹¹. Your 25% share must be cash, not in-kind ⁠¹¹.

The Market Expansion Grant covers trade show booths, domestic trade missions, packaging and targeted marketing campaigns. Lodging is capped at $100 a night for up to 10 room nights, and meals are excluded ⁠¹². Retail businesses, consultants, law firms, real estate developers and multi-level marketing companies are ineligible. A company that only uses a Wyoming registered agent does not qualify ⁠¹². Apply at least 30 days before the activity, request reimbursement within 30 days after it, and expect payment within 45 days ⁠¹².

Kickstart is paused, and other programs that will not fund you

• Kickstart Grant Program. This was Wyoming’s only startup grant: $5,000 to $50,000 through quarterly pitch competitions for companies with 25 or fewer employees. A founder needed an accelerator, pitch-competition finalist or prior startup track record. The WBC page says the program is paused until further notice ⁠¹⁰. Lists still showing Kickstart as open are out of date.
• SSBCI loan guarantees or capital access programs. Wyoming has none. Treasury lists only the two WYVC equity programs for the state, so a lender cannot add an SSBCI guarantee to your loan ⁠⁸.
• Direct state loans to an individual business. Apart from the Contract Loan, the WBC cannot lend to you directly, so a business that has no bank relationship should start with the SBDC and a lender, not the WBC ⁠¹.

A Wyoming funding sequence, starting with the SBDC

The Wyoming SBDC Network provides no-cost one-on-one advising, training and market research, with offices and advisors across the state ⁠¹⁵. It reported 1,600 clients served and $9.3 million in capital raised in 2021 ⁠¹⁵.

1. Meet an SBDC advisor first

   Bring your business plan, recent financial statements or projections, and the amount you need. Ask which WBC loan, DWS grant or WBC grant fits your project ⁠¹⁵.

2. Ask your bank for a WBC participation by name

   Say “50/50 Financing Program” (or Succession or Main Street Loan) at the first meeting. Be ready to put in 15% of project costs and to wait for WBC Board approval ⁠²⁠³.

3. Register in the DWS grant system before you schedule training

   Registration takes 1 to 2 weeks. You must be in good standing with Unemployment Insurance, Workers’ Compensation, the Secretary of State and HireWYO, and then you apply 30 to 110 days before the course ⁠¹³⁠¹⁴.

4. For marketing trips, apply 30 days ahead

   Use STEP for foreign trade shows and the Market Expansion Grant for out-of-state ones. Include a marketing plan and budget, and do not spend until your contract is signed ⁠¹¹⁠¹².

5. Tech founders: line up a lead investor before contacting WYVC

   Apply through the WYVC Direct page with your pitch deck and financials. Write to [email protected] with questions ⁠⁶⁠⁸.

6. Have an SBIR/STTR award? Apply for the match

   Submit the federal award letter, W-9, budget form, employee form and pitch deck ⁠⁹.

7. If you are turned down, ask why and reapply

   DWS gives feedback on denied training applications and encourages reapplication ⁠¹⁴. A bank’s credit decision on a 50/50 loan can be taken to another bank.

For other Wyoming help, see the Wyoming overview, or compare all states on the small business grants hub.