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Businesses eligible for federal loans

◆ Applications for federal disaster loans open to Wyoming businesses.

The loan amount will be based on actual economic injury and financial needs, so small business owners are encouraged to gather items such as financial statements, tax returns and revenue projections to prepare for a loan request.

Governor Mark Gordon has announced that small businesses in the state are now eligible to apply for up to $2 million per company in federal economic disaster loans. The loans are available through the U.S. Small Business Administration (SBA).

According to the Wyoming Governor’s Office, the “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 COVID-19.”

“I thank the SBA for giving final approval to make Wyoming businesses eligible to apply for these funds,” said Governor Gordon. “I also thank our Congressional delegation for working to make this happen.”

According to Governor Gordon, 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 are encouraged to gather items such as financial statements, tax returns and revenue projections to prepare for a loan request, he said.

According to Wyoming SBA Director Amy Lea, applicants may apply for loans online at sba.gov/disaster and will be able to check their application status there as well.

In the event that an employer or employee needs assistance in preparing their application package, the Wyoming Small Business Development Center Network (SBDC) can assist businesses with “preparing a loan package at no charge.”

Rob Condi is the Southwest Regional Director of the SBDC and serves the Star Valley area. His contact information is: (307) 352-6894; rcondi1@uwyo.edu.

Regional directors at Manufacturing Works can provide technical assistance in securing supply chains. Email rcase@uwyo.edu for more information.

Wyoming Business Council regional directors can help businesses navigate assistance needs and options. Contact information can be found at wyomingbusiness.org.

“Most importantly, we want Wyomingites to stay healthy,” said Governor Gordon. “We encourage you to follow the CDC guidelines on sanitation and social distancing. Wyoming’s business community is resilient, and together we will help each other emerge from this challenge stronger.”

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