Business financing in Carbon County.

Small business financing is money you borrow — or access through grants or credit lines — to start, run, or grow a business. In Carbon County, Wyoming, this can mean a lot of things: a loan to buy equipment for a welding or construction operation, a line of credit to cover slow months in a seasonal trade, or capital to purchase a rental property or small commercial building.

The most common types of financing available to small businesses here include:

• **Term loans** — A lump sum you repay over a set period, typically used for equipment, vehicles, or expansion.

• **Lines of credit** — Flexible borrowing you draw from as needed, useful for cash flow management.

• **SBA-backed loans** — Loans made by local lenders but partially guaranteed by the U.S. Small Business Administration, which lowers risk for the lender and often results in better terms for you.

• **Microloans** — Smaller loans (often under $50,000) offered by nonprofit lenders or CDFIs, designed for newer or smaller businesses.

• **CDFI loans** — Community Development Financial Institutions are nonprofit lenders whose whole mission is to serve businesses that banks often overlook.

Federal programs like SBA 7(a) and SBA 504 loans are real options, but they work through local lenders and intermediaries — the local connection is what actually gets you funded.

Carbon County's economy is built on energy, agriculture, ranching, outdoor recreation, and the trades. Rawlins, the county seat, is a working town with a strong presence of contractors, small retailers, and service businesses tied to the oil, gas, and wind energy sectors. Saratoga, Encampment, and Riverside round out the county with tourism-related businesses, outfitters, and agricultural operations.

If you work in any of these industries — or you're a solo contractor, a rancher running a side business, a food truck operator, or someone building a small rental portfolio — you are the kind of person this guide is written for.

**General eligibility factors lenders typically look at:**

• Time in business (many programs require 6–24 months, but microloans and CDFIs often accept newer businesses)

• Annual revenue and ability to repay

• Personal credit score (though some ITIN-based programs do not require a Social Security Number)

• Collateral, such as equipment, real estate, or business assets

• A clear explanation of how the money will be used

Being a seasonal business — common in Carbon County — does not automatically disqualify you. Lenders familiar with Wyoming's economy understand seasonal cash flow. The key is documenting your revenue patterns clearly.

Preparing your documents before you apply saves time and builds confidence with lenders. Requirements vary by lender, but here is a solid starting checklist:

**For most loan applications:**

• Government-issued photo ID (driver's license, passport, or consular ID)

• ITIN (Individual Taxpayer Identification Number) or Social Security Number — ITIN is accepted by many CDFI and credit union lenders

• Last 2–3 years of personal tax returns

• Last 2–3 years of business tax returns (if your business has been operating that long)

• 3–6 months of business and personal bank statements

• Profit and loss statement (can be basic; your accountant or a SCORE mentor can help you prepare one)

• A simple business plan or written description of your business and how you will use the loan

• Business licenses, registration documents, or contractor's license, if applicable

• Lease agreement or property deed if your business has a physical location

**For SBA-backed loans, you may also need:**

• SBA Form 1919 (borrower information form)

• Personal financial statement

• Collateral description

If you are missing some of these — especially a business plan or financial statements — reach out to Wyoming SBDC or SCORE first. They provide free coaching and can help you get ready before you apply.