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Small Business Relief

First Bank of Wyoming is committed to supporting local businesses during these challenging times.

April 27, 2020: We are now accepting applications for PPP Loans.  Please follow the instructions below for applying. 

Submitting an application does not guarantee that you will receive funding. 


Small Business Paycheck Protection Program 

This program provides small businesses with access to short-term cash flow assistance to help cover payroll and certain other eligible expenses.  The loans come directly from First Bank for Wyoming, and are guaranteed by the U.S. Small Business Administration (SBA).  As a preferred SBA Lender, we're ready to help you get access to the funds you need. 
 
Who Can Apply
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19. Businesses in certain industries may have more than 500 employees and still be eligible if they meet the SBA’s size standards for those industries. 
 
How to Apply
  1. Complete our application packet, which can be accessed by clicking the "Apply Now" button below.
  2. Gather all applicable documents for your business (listed in the application packet).
  3. Provide documentation of any funds received in the form of an Economic Injury Disaster Loan since January 31, 2020.
  4. Print and sign all documents, then submit your application and supporting documents to your local Branch Office. Prior to submitting, you may contact your local Commercial Lender or Branch Manager with any questions.  
*If you don't have existing relationships with us, provide entity documents for your business (Articles, By-laws, Operating Agreement, etc.), along with identification for authorized officers signing the loan documents (scanned copy or photo of U.S. driver’s license or state ID with issuance and expiration dates; passport; or military ID).
 
 

Loan Forgiveness
You may apply for loan forgiveness if at least 75% of funds are used for payroll costs, and no more than 25% of funds are used to pay interest on mortgages, rent, and utilities. Forgiveness is also based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.  For more information about loan forgiveness, click here

  • Record-Keeping for Forgiveness

    • For record-keeping purposes related to loan forgiveness, we encourage you to open a separate Business Checking Account. 
    • A new account is not required.
    • For more details and to access a new account authorization packet, click below: 

NEW BUSINESS ACCOUNT AUTHORIZATION

  • Already submitted your loan application?  That's okay! 

    Simply contact your local branch and let them know you'd like to open a new Business Checking Account in relation to your PPP loan.  Your branch will provide further instructions.

 

Important Information

Please review the U.S. Treasury’s Paycheck Protection Program Borrower Information Sheet(Opens in a new Window) and Frequently Asked Questions.  These documents contain important information about use of loan proceeds, loan amount, loan forgiveness requirements, etc. 
 
NOTE: Information provided by the U.S. Treasury is subject to change at any time. Please check back often for updates. 

 
 
 
 
 

To see the latest updates regarding our response to COVID-19, please click below: