SBA Loans in Wyoming

Wyoming is the least populated state in the nation, but its economy is driven by outsized natural resource wealth and one of the most spectacular tourism destinations in the world. Energy production — including oil, natural gas, coal, and growing wind power — has historically been the state’s economic engine, funding government operations through mineral severance taxes and royalties. Yellowstone and Grand Teton national parks anchor a tourism economy that supports hospitality, outfitting, and retail businesses throughout the western part of the state.

Cattle ranching and agriculture provide the economic foundation for much of rural Wyoming, while Cheyenne serves as the state capital and military center (F.E. Warren Air Force Base). Jackson Hole has become one of the most exclusive resort communities in the country, with real estate values and business valuations that rival coastal markets. Casper and Gillette are the hubs of Wyoming’s energy industry.

SBA lending in Wyoming is limited in volume but important in impact. The state’s no personal or corporate income tax improves business owner cash flow. Community banks and credit unions are the primary SBA lenders, and the state’s small population means close lender-borrower relationships. Business valuations vary dramatically — from extremely high in Jackson Hole to very modest in rural communities. SBA loans help entrepreneurs build and acquire businesses in communities where access to conventional financing can be limited.