Wyoming Small Businesses Now Can Apply for COVID-19 Disaster Loans
Wyoming small businesses in all 23 counties now can apply for up to $2 million per company in federal economic disaster loans through the U.S. Small Business Administration, Gov. Mark Gordon announced Saturday.
Tuesday, the Wyoming Business Council encouraged companies to apply for very-low interest loans due to the contagious novel coronavirus COVID-19 pandemic.
Economic Injury Disaster Loans administered by the SBA are designed to help small businesses and private nonprofits that have suffered substantial economic injury as a result of the pandemic.
The low-interest loans provide the necessary working capital to help small businesses survive until normal operations resume after a disaster.
The loan amount will be based on actual economic injury and financial needs, so small business owners need to gather financial statements, tax returns and revenue projections to prepare for a loan request.
Wyoming SBA Director Amy Lea said applicants may apply for loans online at sba.gov/disaster and will be able to check their application status there.
If an employer or employee needs assistance in preparing their application package, the Wyoming Small Business Development Center Network regional directors can help at no charge. Their website also has COVID-19 small business resources.
Other resources are available including regional directors at Manufacturing Works who can provide technical assistance in securing supply chains. Email firstname.lastname@example.org for more information.
Wyoming Business Council regional directors can help businesses navigate assistance needs and options.