The Wyoming Business Council Board of Directors will hold a special call-in meeting to consider rules for two additional COVID-19 Business Relief funding programs at 3:30 p.m. on July 14.
The Wyoming Business Council is responsible for distribution of $325 million in federal CARES act funding for Wyoming businesses and nonprofits. The Business Council’s COVID-19 Business Relief Program consists of three funds – the Interruption Fund, the Relief Fund and the Mitigation Fund. The Interruption Fund closed on July 2.
The board will review emergency rules for the Relief and Mitigation funds, which will be open to businesses and nonprofit organizations.
Relief Fund: The Relief Fund is broken down into two categories for entities with up to 100 employees for a reimbursement up to $300,000: $50 million would be available to reimburse revenue losses due to closures required by government health orders and $125 million would be available for incurred COVID-19-related expenses and direct or indirect losses due to government health orders. Eligible nonprofit organizations include 501(c)(3), 501(c)(6), 501(c)(12) and 501(c)(19) with at least one paid full-time employee.
Mitigation Fund: The Mitigation Fund would reimburse up to $500,000 for incurred COVID-19 expenses and doesn’t have a limit on employees nor types of nonprofits. This fund has $50 million available.
Once approved by the board, the rules will go for final approval by the Wyoming Attorney General and signing by Governor Mark Gordon and then to the Business Council to build an online application system and application review process. The applications are expected to open in a few weeks.
During the special meeting, the board will also consider a loan payment extension request from WyoTech and a resolution related to the expenditure and disbursement of federal CARES Act funding. No other business will be discussed at this meeting.
Join the webinar here: https://zoom.us/j/295704768.
Join by phone at 1-346-248-7799 or 1-669-900-6833.
The meeting agenda is available here.
Contact Strategic Partnerships Director Ron Gullberg at 307-286-9519 or [email protected]
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 launches.