Section 3-3 - Application Process a. All applications for a Loan Guarantee shall be submitted on the required forms. Complete applications will be accepted at any time and scheduled for final review and approval or denial by the Board of Directors on a first-come, first-served basis.
b. One (1) copy of the application shall be submitted to the Council offices at:
Wyoming Business Council
214 West 15th Street
Cheyenne, Wyoming 82002
c. Every application shall include, unless waived by the Council, the following at a minimum: - (i) complete copy of the originating Commercial Lender's analysis, recommendation and approval;
- (ii) three (3) years of financial and tax statements (or in the case of a new business the most recent statements available since start-up), plus detailed and complete current financial statements of the Business and owner(s);
- (iii) pro-forma cash flow statement projections of the Business for a minimum of three (3) years;
- (iv) proposed collateral and collateral value;
- (v) proposed use of loan funds (majority of funds cannot be used to refinance existing debt);
- (vi) proposed personal guarantees;
- (vii) certification by the originating lender that this "Loan Guarantee" is a greater benefit to the business than a traditional "Federal Guaranteed Loan" or the "Loan Guarantee Participation" as outlined in Chapter 1 of these rules;
- (viii) certification by the lender and business that all statutory requirements will be met;
- (ix) certification that the business will allow an examination of its books and records as required in W.S. 9-12-306(a).