RESTAURANT REVITALIZATION FUND
A $28.6 billion restaurant and bar grant program will be made available soon. Members of the Independent Restaurant Coalition partnered with members of Congress to craft the legislation. While the Small Business Administration (SBA) prepares to stand up the Restaurant Revitalization Fund, businesses should take steps to organize the materials necessary to submit an application once it is available. Click the link below for resources to learn more about the program and what businesses can do to prepare for the application. Please note that applicants no longer need to sign up for a SAM.gov account or have a DUNS number.Learn more here:
AMERICAN RESCUE PLAN ACT OF 2021
The latest COVID-19 relief package has been approved by Congress and signed into law by President Biden. The majority of the $1.9 trillion in relief will come in the form of direct payments and other relief to American families but additional assistance will be available through the Small Business Administration and other entities to help targeted businesses (including the restaurant and bar industry), local communities, and organizations affected by the ongoing pandemic. Much is still unknown as far as specifics but as details are provided, the Wyoming Business Council will update this website and send out information via our newsletter. Sign up for those updates here.
Tips for businesses and communities
The COVID-19 virus has had immense human, social and economic impacts thus far and those impacts continue as this virus spreads worldwide. Our thoughts are with the individuals and families affected, and we encourage Wyomingites to stay safe.
While these are unprecedented and unsettling times, there is comfort in action. Wyoming small business owners and employees can take proactive measures to protect themselves as the situation develops.
Click the buttons below to check out tips and resources:
SBA to Increase Lending Limit for COVID-19 Economic Injury Disaster Loans https://www.sba.gov/relief
SBA and Treasury Announce PPP Re-Opening; Issue New Guidance https://home.treasury.gov/news/press-releases/sm1230
Business Relief Program Tax Information
As businesses close out their previous year and prepare to file tax documents, the Wyoming Business Council wants to remind all CARES Act funding recipients that any money received through the COVID-19 Business Relief Program is considered taxable income and should be included in tax filings. The State Auditor's Office has issued all applicable 2020 1099 forms and CARES grant recipients should have received a 1099-G for their awards. If you have any questions, please contact the State Auditor's Office at firstname.lastname@example.org.
Please Note: The State Auditor's Office and the Wyoming Business Council cannot provide any tax-related advice. Business Relief Program recipients with questions related to filing, claims, etc., should contact a tax professional.
The COVID-19 Business Relief Programs are now closed, learn more at wyobizrelief.org