The Revolving Loan Fund
In addition to the Business Ready Community program, Platte County Economic Development has a Revolving Loan Fund (microloan) that is available to local business that: provide employment, manufacture a product, add value to a product, provide services to areas outside of Platte County, tourist related businesses who bring new dollars into the county. Businesses that have the potential to expand their operations and create new jobs through the use of the funds.
Proceeds of microloans maybe used for working capital, inventory, supplies, furniture, fixtures, machinery, and/or equipment. In no case shall the proceeds be used for down payment or purchase of real estate. Loans amounts range from $500-$25,000. The board of directors has the authority to increase the loan amount and adjust the terms on an individual basis. Interest rate is 4% to 6%.
Business Ready Communities Program
The State of Wyoming recognized the need to develop infrastructure to support new and expanding businesses in communities across the state. As a result, the legislature created (and funded) the Business Ready Communities program, which is administered by the Wyoming Business Council. Grants and loans are available to government entities specifically to assist with infrastructure development, i.e. purchase of land, purchase and/or construction of buildings.