Business Relief funding rules to be hashed out at special call-in meeting

WYOMING — 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: Interruption Fund, Relief Fund and 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 via Zoom, or by phone at 1-346-248-7799 or 1-669-900-6833.

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