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Are you looking for Wyoming’s best business loans & startup financing companies? For your small business in the Cowboy State, many banks, credit unions, and unconventional lenders are offering different loan types. After all, over 72,000 small businesses operate in Wyoming; they account for almost 99% of all firms in the Equality State.

Understand the unique features and benefits of different loan types to empower your business. That’s how you can choose the best lender for your business. Keep in mind that different lenders have various interest rates, term lengths, approved amounts, and other factors. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 14 business loans & startup financing options in Wyoming to get started:

1.  Swoop Funding

Swoop Funding is every Wyoming-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process.

2.  First Bank of Wyoming

This lender offers business loans to Wyoming-based companies. You can submit applications to get financed via the First Bank of Wyoming. They claim that they help local startups whether they are “looking to expand, purchase equipment, increase inventory, hire more employees, or consolidate debt.”

3.  Wyoming Community Bank

With an interest rate of 4.15%, this lender offers loan amounts of over $230,000 on average. So, you can apply for these loan types by contacting Wyoming Community Bank’s staff:

• Lines of credit
• Term loans
• Commercial mortgages
• Standby letter of credit
• SBA loans

4.  Pinnacle Bank

Pinnacle Bank will help you get ample business funding and keep your business vessel afloat. You should visit their website to learn more about the different loan types provided by this loan giver. They specialize in real estate, commercial, and business equipment financing.

5.  United Midwest Savings Banks

Called UMWSB, this lender offers you an interest rate of 5.42%. However, the average payout amount is as high as $1.946 million! However, you can get funded very quickly if you apply for USDA or SBA loans of up to $150,000.

6.  Platte Valley Bank

Platte Valley Bank’s average payout amount is around $100,000. That’s why it’s on #6. But it’s still a great option for Wyoming-based businesses, where you get easy access to a lot of money for business-related purposes from a lender who knows Cowboy State’s entrepreneurial landscape.

7.  Mountain America Credit Union

This lender has a pretty high interest rate (6.25%), but the average loan size is $688k. MACU gives you various loan options to choose from, along with local expertise and quick turnarounds. This lender is especially friendly toward startup owners in Wyoming.

8.  Wyoming SBDC Network

This lender is basically a network of interconnected entrepreneurs who help other founders in Wyoming get their business ideas funded.

9.  Bank of Jackson Hole

At the Bank of Jackson Hole, you can get up to $300k as a loan on average, with an interest rate of 5.13%. As for term loans, this option ranges from $15k to $5 million, with the term length being 5 years long at most.

10. HarborOne Bank

Another amazing lender that operates in Wyoming is HarborOne Bank. If your business needs capital immediately, BusinessOne delivers loan decisions within 48 hours on term loans & lines of credit from $10,000 to $100,000. Also, this bank’s line of credit goes up to $500k. You can get financing up to $750k via commercial term loans approved by HarborOne Bank. if you’re looking for commercial real estate financing, up to 3 million dollars is available at this lender, which is quite low when compared to other lenders. You also get a fixed interest rate for the next decade of taking out this loan.

11. Bank of Blue Valley

Don’t forget about the Bank of Blue Valley. This incredible lender will help you get your hands on ample loan amounts to start a new business or keep your existing one in the race. This lender will give you the typical choice between 7(a), 504, and express loans approved by the Small Business Administration (SBA). They have a commercial banking team ready to guide you about which loan type is the best for you.

12. M&T Bank

You can easily finance your immediate or long-term business needs with M&T Bank. This lender will grant you access to generous term loans to help your startup grow into a unicorn. The loan amount starts at a modest $10k and you can apply for unsecured or secured loans. Also, select a fixed or variable rate with a flexible term length of up to 10 years with M&T Bank.

13. ANB Bank

Another financial lending option is the prestigious ANB Bank. this bank excels in coming up with efficient, streamlined, affordable, & tailored lending solutions for small businesses in the Equality State. However, they have a fixed interest rate of almost 6% (advertised as 5.99%) with the term being 5 years, which is pretty high compared to other Wyoming-based banks. They also offer a $250 Visa Gift Card. But they don’t specify how much loan you can take out!

14. Jonah Bank

Lastly, we should mention Wyoming’s very own Jonah Bank where you can apply for small business loans with flexible rates. They specialize in real estate, energy, credit card, commercial land acquisition, and – of course – agricultural loans. If you take out an agricultural loan via the Jonah Bank, you may invest in the following:

• Cow/Calf & Bred Cow Operators
• Feeder & Yearling Operators
• Hay/Alfalfa & Crop Farms
• Agriculture Equipment
• Agriculture Real Estate
• Young Producers (4-H and FFA)

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in the Equality State. Don’t forget to check out our article on Colorado’s top 14 best business loan & startup financing companies because some lenders there also favor startups in the Cowboy State.

Now, choose a lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If nothing makes sense, get in touch with us at Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly in the gorgeous terrains of Wyoming.