CHEYENNE, Wyo. (KIFI/KIDK)-In spite of unexpected demand, the Wyoming Business Council says it will be able to pay all eligible requests for COVID-19 Business Relief Interruption funding.
Governor Mark Gordon approved the infusion of $50 million in additional funds.
About 4,211 applications totaling $104.6 million have been submitted since June 8. The Interruption Fund is one of three COVID-19 relief funds being administered by the Business Council.
The Wyoming Legislature created the funds in May to distribute $325 million in federal CARES Act funding.
The original funding for the Interruption Fund was $50 million, but the Governor approved the additional money on June 29.
“After Governor Mark Gordon signed the legislation into law on May 20, we were able to quickly develop rules and execute a program to help those businesses hit hardest during the initial months of the COVID-19 pandemic response,” said Business Council CEO Josh Dorrell. “This initial $100 million infusion will help keep small businesses open and workers employed, bolstering Wyoming’s overall economy.”
So far, 2082 small businesses have received $49.01 million from the fund. More than 90% of those came from businesses with 10 or fewer employees. The Council stopped accepting applications at midnight Thursday.
Teton (528) and Lincoln (119) Counties were among the top ten counties with the highest number of applicants.
In the interest of transparency, the state has established a website to track who received funding.
An ongoing Relief Fund for eligible businesses with 100 or fewer employees and non-profits will open in mid-July.