Governor Mark Gordon announced that applications for the next two waves of funding under the COVID-19 Business Relief Program will open to Wyoming businesses and nonprofits at 10 a.m. on Tuesday, Aug. 4.
The Relief Fund and Mitigation Fund make an additional $225 million available to Wyoming businesses and nonprofits that have experienced hardship related to the COVID-19 crisis. Visit wyobizrelief.org Tuesday after 10 a.m. to apply.
“This much-needed funding is a lifeline to businesses and nonprofits hurt by COVID-19, and vital to our efforts to support Wyoming’s economy and our communities,” Governor Gordon said. The Governor signed the emergency rules for both programs on July 27.
“It’s tough to gauge the demand and frequency of applications prior to the launch of these two programs, so now is a good time for businesses and nonprofits to familiarize themselves with all of the helpful tools and information at wyobizrelief.org if they haven’t already done so,” Business Council CEO Josh Dorrell said. “There are FAQs, live and recorded informational webinar opportunities, and a grant calculator graphic you can work on with your lender or accountant in order to submit a solid application as quickly and efficiently as possible.”
The Relief Fund has $50 million set aside for businesses and nonprofits required to close by public health order and an additional $125 million available to cover COVID-19 related expenses and direct or indirect losses due to public health orders. Awards up to $300,000 are available and businesses must employ 100 or fewer people. Eligible nonprofits include 501(c)(3), 501(c)(6), 501(c)(12) and 501(c)(19) with at least one paid full-time employee and no more than 50 percent of time spent on lobbying.
The Mitigation Fund reimburses all Wyoming businesses and nonprofits that have incurred employee and customer health and safety expenses that were a direct impact of COVID-19. The Mitigation Fund has $50 million available with awards up to $500,000.
Currently, half of these funds are available for businesses and nonprofits that have already incurred COVID-19 related losses or expenses. The remaining funds will be dispersed at a later date to ensure funding is available to assist entities that anticipate losses and expenses later in the year.
ABOUT THE COVID-19 BUSINESS RELIEF PROGRAM
In May 2020, the Wyoming Legislature created three programs to distribute $325 million in federal CARES Act funding to Wyoming businesses and nonprofits that have experienced hardship related to the COVID-19 crisis. The Wyoming Business Council is distributing these dollars through the COVID-19 Business Relief Program, which has been broken down into three funds – the Interruption Fund, the Relief Fund, and the Mitigation Fund. Go to wyobizrelief.org to stay informed about program details and to register to receive Business Council news releases.