Two new webinars from the Wyoming Business Council will assist business owners and nonprofits navigate through the next round of relief funding.
The WBC expects to launch the Relief Fund and Mitigation Fund in a couple of weeks with applications opening on Aug 1. Webinars will air at 8 a.m. and 12 p.m., July 30. To register for one of the webinars, follow the link here.
Business owners and nonprofits will benefit greatly from participating in the webinars, WBC CEO Josh Dorrell said during an appearance on Sheridan Media’s Public Pulse.
The Relief Fund is for coronavirus-related expenses and losses for businesses and nonprofits with 100 or fewer employees, with up to $300,000 per business, Dorrell said.
Eligible nonprofits include 501(c)(3), (c)(6), (c)(12) and (c)(19). The nonprofits must have at least one full-time employee and no more than 50% of their time can be spent lobbying.
The Mitigation Fund has no employee requirements and allows up to $500,000 per business for coronavirus-related health and safety expenses for employees and customers.
The webinars can assist business owners with the application process as other webinars on the site inform owners on best business practices during COVID-19.
In response to the economic fallout of COVID-19, the Federal Government created the Coronavirus Aid, Relief and Economic Security Act – CARES Act. The $2.2 trillion dollar economic stimulus package was distributed throughout the nation with Wyoming receiving $1.25 billion of the funds.
Wyoming lawmakers held a special session in May and passed five bills distributing the funds. One of those bills called 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 began to distribute these dollars through the COVID-19 Business Relief Program, which consists of three funds – the Interruption Fund, the Relief Fund, and the Mitigation Fund.
Applications for the Business Interruption Stipend program closed July 2. According to the WBC, approximately $100 million was distributed to more than 4,200 Wyoming businesses through that fund.