SBA loans play a crucial role in providing financial assistance to entrepreneurs and small business owners. For those in Wyoming seeking SBA loans, understanding the key players in the lending landscape is essential. Here’s a breakdown of the top SBA lenders in Wyoming based on the number of loans, average loan amount, and average interest rates.
Wyoming Preferred SBA Lenders
| Rank | Bank | Bank HQ | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|---|
| 1 | Platte Valley Bank | Torrington, WY | 11 | $98,336 | 5.5% |
| 2 | U.S. Bank | Cincinnati, OH | 8 | $110,625 | 7.0% |
| 3 | Bank of Bridger | Bridger, MT | 7 | $160,743 | 6.1% |
| 4 | Community Banks of Colorado | Greenwood Village, CO | 6 | $1,364,167 | 5.4% |
| 5 | Newtek Small Business Finance | Lake Success, NY | 4 | $1,178,250 | 6.8% |
| 6 | BancorpSouth Bank | Tupelo, MS | 3 | $221,667 | 7.3% |
Top Industries for SBA loans in Wyoming
| Rank | Industry | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 4 | $777,450 | 5.8% |
| 2 | Insurance Agencies and Brokerages | 4 | $23,000 | 8.0% |
| 3 | Landscaping Services | 4 | $112,125 | 6.3% |
| 4 | Limited-Service Restaurants | 4 | $741,250 | 6.1% |
| 5 | Full-Service Restaurants | 3 | $745,000 | 5.5% |
| 6 | Solid Waste Collection | 3 | $93,167 | 6.7% |
Top SBA Loan Franchises in Wyoming
| Rank | FranchiseName | # of Loans | Avg Loan | Avg Interest |
|---|---|---|---|---|
| 1 | McAlister’s Deli | 2 | $1,052,000 | 5.8% |
| 2 | Papa Murphy’s Take ‘N’ Bake Pi | 2 | $350,000 | 6.6% |
Top Wyoming SBA Loan Borrowers by Jobs Supported
| Rank | Business | Location | Industry | Loan Size | Interest Rate | Jobs |
|---|---|---|---|---|---|---|
| 1 | MCALISTER’S DELI | Laramie, WY | Limited-Service Restaurants | $1M – $2.5M | 5.8% | 140 |
| 2 | JACKSON HOLE LINEN ALLIANCE | Jackson, WY | Linen Supply | $2.5M – $5M | 4.8% | 65 |
| 3 | COWBOY PIZZA INVESTMENTS LLC | Laramie, WY | All Other Specialty Food Stores | $250K – $500K | 6.6% | 58 |
| 4 | CONKLIN COMPANIES LLC | Gillette, WY | Full-Service Restaurants | $1M – $2.5M | 5.5% | 45 |
| 5 | SKY AVIATION INC. | Worland, WY | Nonscheduled Chartered Passenger Air Transportation | $2.5M – $5M | 8.3% | 45 |
| 6 | MOOSE CHASE VENTURES LLC | Jackson, WY | General Automotive Repair | $1M – $2.5M | 4.9% | 36 |
| 7 | SECURITY NOW USA LLC | Cheyenne, WY | Security Guards and Patrol Services | $250K or less | 8.6% | 30 |
| 8 | SNOWY RANGE RESORTS INC. | Laramie, WY | All Other Traveler Accommodation | $250K – $500K | 6.0% | 30 |
| 9 | TENEROWICZ LLC | Cheyenne, WY | Custom Computer Programming Services | $250K or less | 10.8% | 26 |
| 10 | M&J’S SUBS LLC | Cheyenne, WY | Limited-Service Restaurants | $500K – $1M | 6.0% | 25 |
| 11 | FAMILY BLEND WYOMING LLC | Cheyenne, WY | Snack and Nonalcoholic Beverage Bars | $500K – $1M | 7.0% | 24 |
| 12 | COWBOY BREW 2 LLC | Cheyenne, WY | Snack and Nonalcoholic Beverage Bars | $1M – $2.5M | 6.3% | 24 |
| 13 | WYOMING PIE GUYS LLC | Evanston, WY | Limited-Service Restaurants | $250K – $500K | 7.0% | 23 |
| 14 | JDC TRANSIT INC | Sheridan, WY | Specialized Freight (except Used Goods) Trucking, Local | $500K – $1M | 7.8% | 21 |
| 15 | TJ ASSETS LLC | Evanston, WY | $1M – $2.5M | 5.2% | 20 | |
| 16 | ROCKY MOUNTAIN RECLAMATION LLC | Laramie, WY | Environmental Consulting Services | $2.5M – $5M | 8.3% | 20 |
| 17 | JACKSON HOLE MOTOR WERKS LLC | Jackson, WY | All Other Automotive Repair and Maintenance | $250K or less | 8.3% | 16 |
| 18 | ROBERT TYNSKY AND KODI TYNSKY | Kemmerer, WY | Toy and Hobby Goods and Supplies Merchant Wholesalers | $250K or less | 6.0% | 16 |
| 19 | HANDY WORK AND HOME INSPECTION | Gillette, WY | New Single-Family Housing Construction (except Operative Builders) | $250K or less | 6.0% | 15 |
| 20 | BUFFALO JUMP HOSPITALITY PARTN | Beulah, WY | Full-Service Restaurants | $250K or less | 5.0% | 13 |
| 21 | COWBOY JONES CARPET CLEANING | Cheyenne, WY | Carpet and Upholstery Cleaning Services | $250K or less | 4.9% | 13 |
| 22 | SMART DWELLINGS LLC | Rock Springs, WY | New Single-Family Housing Construction (except Operative Builders) | $2.5M – $5M | 8.0% | 13 |
| 23 | CITY DRUG LLC | Cheyenne, WY | $250K or less | 5.0% | 11 | |
| 24 | RSC POWER SPORTS L.L.C. | Cody, WY | $2.5M – $5M | 8.3% | 11 |
Note about SBA lenders near me in Wyoming
When it comes to top Wyoming SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Wyoming preferred lender list, 2) approved lenders in Wyoming, or 3) active participants in the Wyoming SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Wyoming swiftly. The answer is an unequivocal yes. These aren’t your run-of-the-mill banks making only a handful of SBA loans annually; these are institutions well-versed in the intricacies of the SBA 7(a) loan program. They stand out as the top performers in Wyoming, as evidenced by our thorough analysis of thousands of SBA loans each year, leading us to rank lenders based on recent activity.
It’s crucial to note that while some banks may limit their lending to specific regions, there exist a select few highly assertive nationwide SBA lenders that operate nationally. These lenders possess a profound understanding of the SBA program and execute transactions with remarkable speed. Therefore, we advise against restricting your search solely to your home state. Our lender match tool proves invaluable in this regard. By utilizing it, we can identify suitable SBA banks tailored to your specific needs, be it geography, industry, company size, all at no cost or obligation to you. This service aims to save you valuable time and ensure a seamless SBA loan process.