Business grants available

Alexis Barker
NLJ News Editor
 
The Wyoming Business Council began taking applications for the Wyoming Business Interruption Stipend on Monday, June 8. This program is funded through the federal CARES Act, passed by Congress in response to the COVID-19 pandemic. 
According to a press release from the council, the program offers grants of up to $50,000 to independent Wyoming businesses who employ 50 or less full-time employees who experienced financial loss due to health order closures. 
The Wyoming Legislature crafted three grant programs to distribute $325 million in CARES Act funding during their special session, specifically earmarked for small-business owners, the council’s website states. Out of those funds, $50 million went directly to the program, providing grants to small businesses throughout the state. 
“The Business Council has prepared a simple, secure process to distribute grant funds as quickly as possible to Wyoming business owners,” the release states. “Applicants that did not receive federal Paycheck Protection Program (PPP) funding and were required to close because of state health orders will be processed first. Qualified applications will be processed in about 21 days.” 
The council notes that they are working as quickly as possible, while still ensuring that the application process is secure, accessible and easy to use. 
“Applicants must be headquartered in Wyoming, employ 50 or fewer people and have established their business before any public health orders were issued in Wyoming,” the council’s website says. “Businesses must show costs of business interruption due to closures related to federal, state or local orders.” 
The amount each business will receive will be dependent on their reported loss business revenue, COVID-19 related expenses, cost savings realized as result of closures and CARES Act Grant funds. Businesses will be required to certify that they complied with all applicable state and county health orders, that their application is factual, that funds will be used for only the allowable purposes, and that the funds requested will be used to reimburse costs of business interruption.
“Failure to comply may result in total or partial refund of grant funds,” the website states. “The business may be asked to provide documentation used in calculating cost of business interruption in order to comply with WBC or federal audit requirements.” 
According to the council, the Coronavirus Business Relief Stipend and Coronavirus Mitigation Fund programs are expected to launch early next month. 
“These two other grant programs — one for businesses with up to 100 employees and another to reimburse for health and safety expenses incurred by businesses of all sizes — are expected to launch early July. Eligible businesses will be allowed to apply for more than one grant program,” the press release states. 
Anyone with questions about the application process is encouraged to reach out to their local chamber of commerce, economic developers, Main Street Program managers and SBDC regionals, who are trained and ready to help with the process.