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Business relief grant programs are available for small businesses

Self-employed individuals economically impacted by COVID-19 now may be eligible to receive up to $7,500 in cash support through the Idaho Rebound cash grants for small businesses.(Source: MGN)
Self-employed individuals economically impacted by COVID-19 now may be eligible to receive up to $7,500 in cash support through the Idaho Rebound cash grants for small businesses.(Source: MGN)(KMVT)
Published: May. 29, 2020 at 8:56 AM CDT
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The Wyoming Business Council staff is spearheading the creation of the Wyoming business relief programs and working to ensure a smooth and simple process for Wyoming's small-business owners.

Gov. Gordon signed a bill on May 20 that created three grant programs to distribute $325 million of Wyoming's $1.25 billion allocation from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act to Wyoming small-business owners who have experienced hardship related to the coronavirus pandemic.

The programs are:

The Wyoming Business Interruption Stipend - $50 million in grants of up to $50,000 to independent Wyoming businesses that employ fewer than 50 people.

The Coronavirus Business Relief Stipend - $225 million in grants of up to $300,000 for independent Wyoming businesses that employ fewer than 100 people. The Legislature set aside $50 million of this funding for businesses explicitly closed as a result of state orders.

The Coronavirus Mitigation Stipend - $50 million for reimbursement of up to $500,000 in expenses incurred for the health and safety of Wyoming employees and to comply with public health guidelines as a result of the COVID-19 pandemic.

The Business Council's financing experts are currently working with Wyoming businesses and associations to understand and address specific nuances, write rules and finalize a process to distribute and track funds.

The Business Council expects to launch the first portion of the grant program and open applications for businesses at the beginning of June. The agency anticipates holding webinars at the end of May to help business owners understand the program, determine whether they qualify and begin applying.

To prepare in the meantime for any of the programs, business owners are encouraged to gather their W-9 Form. The information in that form will help you fill out your application faster.

Business owners are also encouraged to register for Business Council media releases to keep up on the latest information on all three programs and be notified when we launch webinars to explain the programs and the application process for receiving grants. Updates will also be posted on the agency's Facebook and Twitter channels.

The Business Council will work with local partners -- economic development organizations; the Wyoming Business Resource Network; Main Street programs; Chambers of Commerce; the Wyoming Lodging and Restaurant Association (WLRA); tourism organizations; etc. -- to distribute information and provide support in the application process.

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