Wyoming Small Business Grants
Currently, there are a variety of grants for small businesses that are available. These include the COVID-19 Response and Recovery Fund, as well as the Paycheck Protection Program.
Paycheck Protection Program
During the COVID-19 pandemic, many small businesses in Wyoming faced uncertainty. Various grant programs and state-mandated relief helped some businesses, while others received hundreds of thousands. Nevertheless, the pandemic continues to have a large impact on businesses in Wyoming.
The Small Business Administration (SBA) provides disaster loan assistance to small businesses in all states. This includes the Paycheck Protection Program (PPP), Economic Injury Disaster Loans and Express Bridge Loans.
The PPP has become the largest source of federal money for businesses. According to the SBA, nearly $800 billion in PPP loans were issued in 2020. The majority of the PPP loans went to oil and gas operations.
In the first round of the PPP, 60 percent of all loans were approved by community banks with under $10 billion in assets. Some lenders required additional documentation, adding time to the approval process.
COVID-19 Response & Recovery Fund
During the COVID-19 outbreak, small businesses have been forced to adapt quickly and to meet urgent needs. To help Appalachian Ohio and other Appalachian regions meet immediate needs, grants are being offered to businesses and nonprofit organizations that provide services to at-risk populations.
Small business grants are available to both nonprofit and for-profit organizations. The funds can be used for business expenses or recovery-related costs. Applicants are required to submit a letter of intent before applying. The application is available online.
The Community Response Fund is a new initiative that supports local nonprofits and government agencies. Grants are available for health and human service organizations and can be distributed rapidly. The funds are also available to legally exempt school-age care programs.
The Lander Economic Development Association disbursed grants to businesses in Lander in June. The program is funded by private sources and bridges the funding gap until the state can provide more resources.
COVID-19 Grants to USA Nonprofits and Agencies
During the Coronavirus (COVID-19) health crisis, there are several grants for small businesses, nonprofits, and agencies that can help with emergency costs. These include financial assistance, health care, food, and transportation. In addition to providing emergency assistance, these grants can also help to promote health equity and strengthen student engagement in the wake of the health crisis.
The COVID-19 Response and Recovery Fund was established by Our Community Foundation and Alaska Community Foundation. The Fund will deploy resources to Wyoming nonprofits and vulnerable communities. The funding is part of a cooperative agreement between these two organizations and the U.S. Small Business Administration.
The COVID-19 Business Relief Program will provide up to $225 million to Wyoming businesses. This includes the Mitigation Fund, which will help to mitigate the effects of the virus on Wyoming communities.
Amber Grants for businesswomen
Founded by WomensNet, Amber Grants are a monthly award of $10,000 awarded to businesswomen. These grants are meant to help women fulfill their dream of owning a small business. The foundation was started in 1998 to honor the memory of Amber Wigdal, a young woman who died at 19 years old.
Applicants for the Amber Grant must be 18 years old or older. They must also have a business that is at least 50% owned by a woman. The application is relatively simple. It requires a business plan and personal information. The application can be found on the Amber Grant website.
To apply, you must fill out the online form and submit a $15 application processing fee. Once you are approved, you will receive an EBT card. This card can be used at food retailers and participating farmers markets.
COVID-19 Eviction Moratorium
During the coronavirus pandemic, the Wyoming Legislature enacted the COVID-19 Business Relief Program to support small businesses. This program is funded in part through the U.S. Small Business Administration’s Cooperative Agreement. The program includes three funds: the Interruption Fund, the Mitigation Fund, and the Relief Fund.
The program’s resources are intended to help people who have been financially impacted by the pandemic. The programs offer help to homeowners who need to delay evictions, and financial assistance to people who have lost their jobs. It also provides a website where people can get help.
The COVID-19 Business Relief Program’s resources include a rent freeze and mortgage payment deferrals. The program will beta test an online application system for applicants to apply for relief. In order to be eligible for the program, tenants must demonstrate financial hardship, such as a wage loss, illness, or death. The tenant must provide a written declaration of the financial hardship to their landlord. Generally, tenants must have a household income less than 80% of the area median income.
