Wyoming businesses took out 267 SBA 7(a) loans worth $152M in fiscal years 2024 to 2026, counting only loans that were not cancelled. That ranks 51st of 52 by number of loans and 50th by dollars. The median loan was $155K at a median starting rate of 10.24%. In FY2026 alone, lenders approved 102 Wyoming loans for $58.3M before cancellations.
What stands out in Wyoming
Few franchise loans
Franchise businesses took 4.9% of Wyoming's 7(a) loans, against 11.0% nationally.
Heavy use of SBA 504
Wyoming had 61 SBA 504 loans, 0.23 for every 7(a) loan, against 0.10 nationally. The 504 program finances owner-occupied real estate and long-life equipment through a certified development company; in Wyoming the most active was Mountain West Small Business Finance (43 loans).
Retail stands out
Retail accounted for 16.5% of Wyoming's 7(a) loans (44 loans), 1.5 times its 11.3% national share. The median retail loan in Wyoming was $293K at a median rate of 10.12%.
Little startup lending
Loans to open a new business made up 11.2% of Wyoming's 7(a) loans, against 16.1% nationally; counting businesses two years old or younger, the share is 30.7%.
What a typical Wyoming SBA loan looks like
| FY2024-FY2026, not cancelled | Wyoming | United States |
|---|---|---|
| Median loan | $155K | $175K |
| Average loan | $570K | $508K |
| Median starting rate | 10.24% | 10.25% |
| Variable-rate loans | 81.6% | 86.4% |
| Median term | 120 months | 120 months |
| Loans of $150K or less | 49.4% | 49.0% |
| Loans of $500K or less | 71.9% | 76.9% |
| Loans of $1M or more | 14.2% | 13.6% |
| Startups (loan opens the business) | 11.2% | 16.1% |
| Startups and businesses 2 years old or less | 30.7% | 32.0% |
| Change of ownership (buying a business) | 12.4% | 10.9% |
| Franchise businesses | 4.9% | 11.0% |
| SBA Express loans | 28.1% | 35.8% |
| Jobs supported (reported at approval) | 2,685 | 1,733,816 |
SBA 504 loans in Wyoming
The SBA 504 program finances owner-occupied real estate and long-life equipment. A certified development company (CDC) lends up to 40% of the project with an SBA-backed debenture, a bank typically lends about 50%, and the business puts in the rest. The amounts below are the CDC portion.
| Wyoming | United States | |
|---|---|---|
| 504 loans, FY2024-FY2026 (not cancelled) | 61 | 18,076 |
| 504 dollars | $46.7M | $20.82B |
| Median 504 loan | $547K | $742K |
| Jobs supported (reported at approval) | 607 | 190,338 |
| Most active CDCs | 504 loans |
|---|---|
| Mountain West Small Business Finance | 43 |
| Wyoming Capital Access | 17 |
Wyoming SBA 7(a) loans by fiscal year
SBA fiscal years run October to September, so FY2026 covers October 2025 through September 2026. "Approved" counts every loan SBA guaranteed, the basis of SBA's own published totals; "not cancelled" drops loans that were later cancelled before or after funding. FY2026 loans are recent, so some of them may still be cancelled.
| FY2024 | FY2025 | FY2026 | |
|---|---|---|---|
| Loans approved | 102 | 146 | 102 |
| Dollars approved | $54.6M | $67.8M | $58.3M |
| Loans not cancelled | 86 | 108 | 73 |
| Median loan | $228K | $150K | $206K |
| Median rate | 10.75% | 10.25% | 9.25% |
| Loans of $150K or less | 45.3% | 58.3% | 41.1% |
| SBA Express share | 25.6% | 30.6% | 27.4% |
FY2026 approvals in Wyoming changed by −30.1% from FY2025; nationally the change was −28.1%. See why SBA lending fell in FY2026.
Top SBA 7(a) lenders in Wyoming
| Lender | Loans | Share of state |
|---|---|---|
| 1. Newtek Bank, National Association | 28 | 10.5% |
| 2. U.S. Bank, National Association | 24 | 9.0% |
| 3. Live Oak Banking Company | 14 | 5.2% |
| 4. Northeast Bank | 14 | 5.2% |
| 5. First Northern Bank of Wyoming | 14 | 5.2% |
| 6. Celtic Bank Corporation | 12 | 4.5% |
| 7. Readycap Lending, LLC | 12 | 4.5% |
| 8. Platte Valley Bank | 11 | 4.1% |
| 9. Zions Bancorporation, National Association | 10 | 3.7% |
Industries that borrow most in Wyoming
| Sector | Loans | Share | Median loan | Median rate |
|---|---|---|---|---|
| Retail | 44 | 16.5% | $293K | 10.12% |
| Professional services | 39 | 14.6% | $195K | 10.74% |
| Restaurants and hotels | 31 | 11.6% | $545K | 9.50% |
| Construction | 26 | 9.7% | – | – |
| Health care | 18 | 6.7% | – | – |
| Administrative and support services | 15 | 5.6% | – | – |
| Manufacturing | 15 | 5.6% | – | – |
| Other services (repair, personal care) | 15 | 5.6% | – | – |
Where in Wyoming the loans go
| County | Loans |
|---|---|
| Laramie | 57 |
| Natrona | 35 |
| Sheridan | 32 |
| Teton | 27 |
| Campbell | 19 |
| Park | 14 |
| Albany | 12 |
| Uinta | 11 |
| City | Loans |
|---|---|
| Cheyenne | 54 |
| Casper | 31 |
| Sheridan | 28 |
| Jackson | 26 |
| Gillette | 17 |
| Laramie | 12 |
| Cody | 10 |
Counts only, and only places with at least 10 loans. No individual businesses are listed.
SBA district office for Wyoming
Wyoming loans are overseen by the SBA Wyoming District Office. District offices do not make loans; they support lenders and borrowers and point businesses to local resource partners. Contact details are on SBA's local assistance page.
Comparing SBA and other funding in Wyoming
An SBA loan is often the cheapest long-term money a small business can get, but approval takes weeks and the 2025 and 2026 rule changes narrowed who qualifies. FSE (Funding Solutions Experts) is an independent commercial finance brokerage. We are not an SBA lender and are not affiliated with the U.S. Small Business Administration; one application lets us compare SBA and non-SBA options from our funding partners side by side.
- No fee to your business: we are paid a commission by the funding partner.
- No credit check to apply.
- To be considered, a business generally needs at least 1 year in business and $10,000 or more in monthly revenue.
Read what an SBA loan is and how the programs work or our SBA and term loans guide.
Frequently asked questions
How many SBA loans were made in Wyoming?
Lenders approved 102 SBA 7(a) loans for Wyoming businesses in FY2024, 146 in FY2025 and 102 in FY2026, before cancellations. Net of cancelled loans, the three years total 267 loans worth $152M, plus 61 SBA 504 loans worth $46.7M.
Which banks make the most SBA loans in Wyoming?
In FY2024 to FY2026 the most active 7(a) lenders in Wyoming were Newtek Bank, National Association (28 loans, 10.5%), U.S. Bank, National Association (24 loans, 9.0%), Live Oak Banking Company (14 loans, 5.2%).
What is the typical SBA loan size and rate in Wyoming?
The median 7(a) loan in Wyoming was $155K and the average was $570K. The median starting interest rate was 10.24%, 81.6% of loans had a variable rate, and the median term was 120 months.
Source and method
Figures come from the U.S. Small Business Administration's 7(a) and 504 FOIA loan files (as of September 30, 2026), aggregated by FSE. Loans are assigned to Wyoming by project state. Profile figures cover FY2024-FY2026 loans that were not cancelled. We publish aggregates only: no borrower names or addresses, and no figure based on fewer than 10 loans. Full details are in the methodology, and every state's figures can be downloaded as CSV.
Compare nearby states by volume: South Dakota, North Dakota, Alaska, or see all states.