Wyoming Smart Capital Network

What Wyoming Smart Capital Network does

Wyoming Smart Capital Network (WSCN) is a state-level small business capital access program established in 2010 as a consortium of 17 Wyoming municipalities, administered by Development Capital Networks, LLC under the U.S. Treasury's State Small Business Credit Initiative (SSBCI). It operates two interconnected programs: the Growth Capital Program, which purchases up to 25% of an eligible small business loan in a subordinated position (capped at $1 million participation and a 10-year maximum term), and the Rural Development Fund, a revolving loan vehicle capitalized with $5.1 million from USDA and EDA sources that has expanded coverage to the entire state of Wyoming since 2021. WSCN distributes capital exclusively through a network of 23 participating Wyoming community banks and credit unions, with proposals typically approved and funded within two weeks. Borrower customers are Wyoming small businesses (fewer than 750 employees), including startups (22% of borrowers served), women- or minority-owned firms (29%), and a mix of service (28%), healthcare/fitness (19%), hospitality (17%), retail (14%), and other sectors.

Cumulative program impact includes 217 businesses assisted, 237 loans supported, $35 million in WSCN funds deployed against $163 million in leveraged private bank financing, and 1,148 jobs created versus 1,413 jobs retained. The original $13.2 million SSBCI allocation was fully deployed by 2017 and the program now operates as an evergreen fund that recycles repaid capital, having turned over 2.6 times. WSCN generates revenue through a one-time transaction fee of less than 1% of the total loan amount per participation, charged to borrowers; this is a low-fee, high-volume public-purpose model rather than a commercial yield-driven lending business. Marketing and outreach are conducted through video content featuring borrower success stories, earned media, and a referral network that includes the Wyoming SBDC Network, Wyoming Business Council, Wyoming Women's Business Center, Manufacturing Works, and the Wyoming Community Navigator Program.

The organization is run by a small core team: a Managing Director (Christina Kappaz), a Controller (Kristy Jackson), and a Development Loan Officer (Sam Weinstein), supported by an Advisory Council and partner board representation. Headcount is reported at 1–10 employees, headquarters are listed in Cheyenne, Wyoming (1400 E College Drive, 4th Floor), and the entity remains private, owned structurally by the municipal consortium and operated under contract by Development Capital Networks.

Name

Wyoming Smart Capital Network

Legal name

Wyoming Smart Capital Network

Website

https://wyosmartcapital.org

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Wyoming Smart Capital Network (WSCN) is a consortium-run, SSBCI-backed capital access program that purchases up to 25% of small business loans in a subordinated position, enabling Wyoming SMBs to obtain bank financing through a network of 23 community lenders.

Ownership category

akta.pro rank

Product category

Small Business Lending and Capital Access

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

Keywords

• Small business lending
• Loan participation programs
• Capital access networks
• Rural development financing
• Subordinated debt programs

Headquarters

HQ city

Casper

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Loan Participation Fees: WSCN generates revenue through one-time fees charged to borrowers for participating in small business loans. The fee is typically less than 1% of the total loan amount being sought, subject to the amount of WSCN funds invested and loan terms.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Wyoming Smart Capital Network provides capital access programs for Wyoming small businesses through two core offerings: the Growth Capital Program, which purchases up to 25% of eligible small business loans in a subordinated position (with maximum participation up to $1 million and terms up to 10 years), and the Rural Development Fund, a revolving loan fund backed by USDA and EDA sources totaling $5.1 million. Both programs operate exclusively through a network of 23 participating Wyoming community banks and credit unions, who originate and submit borrower applications, enabling WSCN to fund proposals typically within two weeks.

Product overview

Wyoming Smart Capital Network (WSCN) is a capital access program that provides financing solutions for small businesses in Wyoming through two interconnected programs: the Growth Capital Program and the Rural Development Fund. The Growth Capital Program enables small businesses to obtain bank loans by having WSCN purchase up to 25% of the loan in a subordinated position, while the Rural Development Fund manages revolving loan funds to serve businesses across the entire state. Both programs operate through partnerships with community banks and lenders across Wyoming, facilitating capital deployment to create and retain jobs.

Differentiator

Problem solved

Functional benefit

Products and services

• Growth Capital Program A loan participation program that purchases up to 25% of an eligible small business loan in a subordinated position, enabling Wyoming small business borrowers to access bank financing they might not otherwise qualify for. Maximum loan participation is up to $1 million with terms up to 10 years. Operated through a network of 23 participating Wyoming lenders, with proposals approved and funded typically within two weeks.
• Rural Development Fund A revolving loan fund administered in partnership with USDA and EDA funding sources totaling $5.1 million in capital, supporting Wyoming small businesses with financing for startups, expansions, and pandemic recovery. WSCN provides staffing for RDF's revolving loan funds, and RDF covers all Wyoming counties statewide.

Quantifiable outcome

• $163 million private capital leveraged from $13.2 million SSBCI allocation
• +5 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core.

• Wyoming Community Navigator ProgramcoreStrategic or Co-development Partner · 1 January 2021WSCN joined this program in 2021 to help traditionally underserved business communities hurt most by the pandemic recover, rebuild, and diversify Wyoming's economy.
• Wyoming Small Business Development Center NetworkcoreStrategic or Co-development PartnerKey network partner providing small business development resources, training, and referrals to WSCN programs. Jill Kline, State Director, serves on the Rural Development Fund Board as Interim Chair.
• Wyoming Business CouncilcoreStrategic or Co-development PartnerState economic development agency partner supporting Wyoming small businesses and connecting them with WSCN capital access programs.
• Manufacturing WorkscoreStrategic or Co-development PartnerWyoming MEP (Manufacturing Extension Partnership) center that supports manufacturing businesses. Rocky Case, Center Director, serves as Rural Development Fund Secretary/Treasurer.
• Wyoming Women's Business CentercoreStrategic or Co-development PartnerNetwork partner focused on supporting women entrepreneurs in Wyoming with access to capital and business resources.
• Wind River Development FundcoreStrategic or Co-development PartnerEconomic development organization supporting small businesses in Wyoming with capital access programs.
• MoFicoreStrategic or Co-development PartnerMontana and Idaho community development financial institution partner providing additional capital resources.
• Frontier CDCcoreStrategic or Co-development PartnerCommunity Development Company providing 504 program financing options in partnership with WSCN.
• Development Capital Networks, LLCcoreStrategic or Co-development PartnerProfessional fund management firm that forms and administers WSCN capital access programs. Manages the original SSBCI allocation and ongoing program operations. Brings experienced national and local team to build and administer state and local debt and equity funds.
• Rural Development FundcoreStrategic or Co-development PartnerNonprofit organization formed in cooperation with WSCN in 2020 with USDA support to provide capital for small businesses in Wyoming. WSCN provides staffing for RDF's revolving loan funds. Expanded service to two additional counties in 2020 and entire state in 2021 with EDA grant support.

Scale indicators10 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• LiftFund: A CDFI providing small business loans, including to startups and minority-owned firms often unable to qualify for conventional bank credit, matching WSCN's core gap-financing purpose.
• CDC Small Business Finance: A mission-based small business lender delivering SBA 504/7(a) and gap financing in partnership with banks, closely mirroring WSCN's bank-partnered loan participation approach.
• Accion Opportunity Fund: A nonprofit small business lender providing affordable capital to underserved and minority/women-owned businesses, directly comparable to WSCN's target segments and mission.
• Community Reinvestment Fund, USA: A national CDFI that channels capital to small businesses through lender partnerships and government-backed programs, structurally similar to WSCN's SSBCI-backed participation model.

Regional players

• Colorado Enterprise Fund: A state-focused nonprofit small business lender offering flexible capital to entrepreneurs, comparable to WSCN's state-scoped economic development lending.
• Wind River Development Fund: A Wyoming economic development organization providing capital access to small businesses, a WSCN partner operating in the same geography and mission space.
• MoFi (Montana & Idaho CDFI): A regional community development financial institution providing small business capital in Montana and Idaho; a named partner and near-identical model to WSCN operating in an adjacent Rocky Mountain geography.
• Craft3: A Pacific Northwest CDFI that lends to small businesses and rural communities, mirroring WSCN's mission-driven subordinated/gap lending model in a different region.
• Frontier CDC: A Wyoming-based Community Development Company offering SBA 504 financing and a WSCN partner, operating in the same territory and small-business financing niche.

Others

• Kiva: A nonprofit facilitating capital access for underserved small businesses and entrepreneurs; thematically related mission but via crowdfunded microloans rather than bank participations.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wyoming Smart Capital Network