Administered by the Wyoming Business Council, local governments may apply for funding on behalf of a specific for-profit business for loans up to $150,000.
The loan is convertible because it is converted to a Grant as the business documents the creation of jobs.
Each $500 of the loan is converted to a grant per job created. 51% of the created jobs must benefit people who meet low to moderate income levels, jobs must be created in less than two years and be verified by the employer. Interest and terms are comparable to bank financing.