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Business Relief Program sees high demand in funds

WYOMING — To accommodate the high demand for funding by businesses and nonprofits, Governor Mark Gordon quickly secured full funding for the current wave of the COVID-19 Business Relief Program.

More than 1,600 small businesses and nonprofits submitted applications by 5 p.m. Wednesday, Aug. 5, totaling nearly $150 million in requests for the Relief and Mitigation funds. The Wyoming Business Council initially set aside half the funding to accommodate potential future requests by seasonal businesses involved in agriculture, retail, and tourism that may accrue losses later this year. The recent high demand caused the Business Council to release all the funding.

“The release of the full allocation of funds will help meet the demonstrated needs of those businesses and nonprofits that have been impacted by the COVID-19 pandemic already, ” Governor Gordon said. “I want to ensure that Wyoming’s businesses and its economy stay healthy and Wyomingites are able to keep working.”

“We encourage all eligible entities to apply now as we are unsure how long the money will last,” Business Council CEO Josh Dorrell said.

The first of the COVID-19 Business Relief Programs, the Interruption Fund, closed to applications on July 2 and has put approximately $100 million into Wyoming businesses impacted by the coronavirus. The Relief and Mitigation funds will contribute an additional $225 million by the time all applications are processed this year, totaling $325 million.

Go to wyobizrelief.org to stay informed about program details and to register to receive Business Council news releases.

ABOUT THE COVID-19 BUSINESS RELIEF PROGRAMS

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.

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