"Business loans can sometimes be difficult to obtain. By working with community banks, we can bridge the gap and increase a small business's borrowing capability."
— Mark Huston, Enterprise Manager, Wyoming Smart Capital Network

Growth Capital Program

The Rural Development Fund (RDF) is an organization supported and managed by the Wyoming Smart Capital Network (WSCN). RDF has accepted federal funding through both the U.S. Department of Agriculture and Economic Development Administration. Funds are available through WSCN’s Growth Capital Program.

To help provide a small business a loan, RDF purchases up to 25% of the loan amount and subordinates its interest (in liquidation following a default) to the participating lending institution. This increases a bank's lending capacity and provides greater access to a commercial bank loan. The participating bank services the loan as they normally would.

Eligibility + Terms

  • Commercial loans for working capital, equipment, and real estate
  • Startups and existing businesses are eligible
  • The maximum loan participation is up to $1 million
  • The maximum term of loan participation is 10 years
  • Project located in Wyoming
  • Fewer than 750 employees
  • For profit and nonprofit entities are eligible
  • Borrower or relative is not an executive officer, director, or principal shareholder of the participating lender

About the U.S. Economic Development Administration

The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.

This program is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau's flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.