Cheyenne, Wyo. - The Wyoming Business Council (WBC) is seeking early input from the public on rules for two new investment programs.
State Small Business Credit Initiative (SSBCI)
The Business Council could receive an allocation of up to $58.4 million from the U.S. Treasury to support Wyoming high-growth entrepreneurs through a venture capital program. With this allocation, the WBC plans to create two different funding options:
- The first method would help capitalize both new and existing angel and venture funds to encourage equity investments in Wyoming startups.
- The second option is a fund to help startups actively raising an equity round that already have a lead investor in place to help close that round with direct co-investment from WBC.
Current SSBCI draft rules are available on the Business Council website for public review and comment.
Agriculture Processing Bonds
The second program the Business Council is announcing supports Wyoming's agriculture industry through agriculture processing revenue bonds which were recently passed by the state legislature. The WBC has not started the rule-making process for this program yet but is seeking public comments on all items, possible rules, eligibility or other ideas citizens think the Business Council should consider as we begin drafting rules for the bond program.
The WBC is accepting comments for both of these programs until May 8, 2022, at 11:59 p.m. MT. Please submit any public comments to [email protected] and include the program you are commenting on in the subject line of your email.
The Business Council appreciates all comments and the public's support in this process. Both of these proposed rules will have a subsequent public comment period later this summer after draft rules are completed.
