The purpose of the Wyoming Smart Capital Network is to create jobs by helping small businesses access capital.
This program was created by a coalition of 17 Wyoming municipalities who joined together to bring this capital resource to their communities. In 2018, WSCN expanded its services to the 10 counties of the original 17 Wyoming municipalities. The WSCN will manage and administer capital resources to help small business growth and enhance job creation throughout Wyoming.
Our History includes providing collateral support to over 90 Wyoming small-businesses in a five-year span. We have partnered with over a dozen banks and helped finance a project in 15 of our 17 original municipalities. Over 500 part-time and full-time jobs have been created that has generated an estimated $12.5 million in annual wages for Wyoming citizens.
In 2017, WSCN fully deployed its allocation from US Federal Treasury that totaled $13.2 million. This capital helped attract over $70 million in private bank financing in this five-year timeframe. As a result, this constitutes an "evergreen" fund that WSCN will continue to manage and re-invest into Wyoming small businesses.
The WSCN consists of two financial tools:
- The Growth Capital Program - provides additional capital by purchasing up to 25% of an eligible small business loan.
- The Wyoming Smart Capital Fund - supports local business development by investing in Wyoming-based early stage and growing companies.