Welch also told an undercover agent posing as a representative reviewing his application that he had no pending criminal charges, according to the indictment.
Welch intended to use the loan proceeds to pay restitution and other costs related to criminal cases against him in Stillwater County District Court and elsewhere, prosecutors say.
The Stillwater County case alleges Welch took $31,800 in total from three separate households for home repairs but failed to start or complete the work. Welch pleaded not guilty in January.
In May, Welch waived extradition to Wyoming in a criminal case with similar allegations. Prosecutors in Campbell County say Welch received a down payment of $1,690 for a home improvement project, but the work was never done and the money never returned.
Welch has not yet been arraigned on charges in Musselshell County that were filed in May. In that county, Welch faces three separate cases, each charging theft, deceptive practices and elder exploitation.
Welch had a $25,231 judgment entered against him in Yellowstone County District Court in 2016 after a Billings company, Tech Construction, said he skipped out on work for a building project. Tech Construction had given Welch a $21,442 down payment, but Welch kept it and did no work, according to the judgment.