COVID-19 Resources for Small Businesses

Last updated: 5/28/2020 at 12:19 pm MDT

COVID-19 (novel coronavirus) continues to have a big impact on small businesses in our state. However, there are plenty of available COVID-19 resources for small businesses in Wyoming.

Latest COVID-19 Statistics in Wyoming:

  • Deaths: 14
  • Confirmed Cases: 653
  • Probable Cases: 207
  • Recovered Cases: 624

Click here for the latest Wyoming Public Health Orders.

Get in touch with your local advisor today and learn how to receive no-cost, confidential assistance and learn more about COVID-19 resources for small businesses.

Latest COVID-19 News for Entrepreneurs

Upcoming Classes

To help entrepreneurs during the COVID-19 pandemic, we are waiving registration fees for all upcoming and recorded webinars.

RESOURCES BY TOPIC

The Wyoming SBDC Network, as part of our emergency preparedness strategies for businesses, is ready to strategize with entrepreneurs statewide to develop individualized plans to keep your business running as smoothly as possible.

We’ve compiled a list of topics relevant to entrepreneurs in Wyoming. Our advisors are available anywhere in Wyoming to help you with these topics. All of our assistance is offered at no-cost and is completely confidential.

Information and resources are changing frequently, so check back regularly for the latest updates.

Loans and Captial

Economic Injury Disaster Loans - (Updated: 5/5/2020)

NOTICE: Currently, the Economic Injury Disaster Loan program is accepting new applications from agriculture businesses only. Please click here to learn more.

For non-agriculture businesses: Due to limited appropriations funding, the U.S. Small Business Administration is currently not accepting applications from non-agriculture businesses for the Economic Injury Disaster Loan (EIDL) program.

If you have started an EILD application or are gathering your documents, please continue to do so. If more money is appropriated, then you will want to be prepared with your applications. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.

IMPORTANT: If you have previously submitted an application and have an application number that begins with a “2”, you must reapply immediately to make sure your application is processed. This applies to ALL businesses, not just agricultural businesses.

Previous Information:

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

Small businesses may also apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid.

Key Aspects:

  • The SBA’s Economic Injury Disaster Loans (EIDL) offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
  • These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
  • The SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organizations, faith-based organizations, or 501(c)(19) veterans organizations affected by COVID-19.
  • Review this comparison guide between the various relief efforts from the SBA.

Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with Economic Injury Disaster Loans. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

You can read more from the SBA or apply for the EIDL loan or the emergency advance by clicking here.

SBA Loan Debt Relief - (Updated: 4/14/2020)

As part of SBA’s debt relief efforts,

  • The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months.
  • The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.

If you have other loans not mentioned above, talk to your banker as soon as possible to plan short-term financing options. Inquire about the SBA Federal Disaster Loans, interest-only payments, payment deferment, and refinancing to add working capital.

Key Aspects:

  • For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020.
  • What does an “automatic deferral” mean to borrowers?
    • Interest will continue to accrue on the loan.
    • 1201 monthly payment notices will continue to be mailed out which will reflect the loan is deferred and no payment is due.
    • The deferment will NOT cancel any established Preauthorized Debit (PAD) or recurring payments on your loan.  Borrowers that have established a PAD through Pay.Gov or an Online Bill Pay Service are responsible for canceling these recurring payments.  Borrowers that had SBA establish a PAD through Pay.gov will have to contact their SBA servicing office to cancel the PAD.
    • Borrowers preferring to continue making regular payments during the deferment period may continue remitting payments during the deferment period. SBA will apply those payments normally as if there was no deferment.
    • After this automatic deferment period, borrowers will be required to resume making regular principal and interest payments. Borrowers that canceled recurring payments will need to reestablish the recurring payment.
  • Review this comparison guide between the various relief efforts from the SBA.

If you have any questions, contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

You can read more from the SBA  by clicking here.

Farm Loans - (Updated: 5/4/2020)

NOTICE: Currently, the Economic Injury Disaster Loan program is accepting new applications from agriculture businesses only. Please click here to learn more.

 

Producers can continue to apply for farm loans and get their current loans serviced. Farm loans are critical for annual operating and family living expenses, emergency needs, and cash flow in challenging times like now.

The USDA’s Farm Service Agency is relaxing the loan-making process and adding flexibilities for servicing direct and guaranteed loans to provide credit to producers in need.

Key Aspects:

  • FSA is relaxing the loan-making process. This includes:
    • Extending the deadline for applicants to complete farm loan applications;
    • Preparing Direct Loans documents even if FSA is unable to complete lien and record searches because of closed government buildings. Once those searches are complete, FSA would close the loan; and
    • Closing loans if the required lien position on the primary security is perfected, even for loans that require additional security and those lien searches, filings, and recordings cannot be obtained because of closed government buildings.
  • FSA is extending deadlines for producers to respond to loan servicing actions, including loan deferral consideration for financially distressed and delinquent borrowers. FSA will temporarily suspend loan accelerations, non-judicial foreclosures, and referring foreclosures to the Department of Justice. The U.S. Attorney’s Office will make the determination whether to stop foreclosures and evictions on accounts under its jurisdiction.
  • Guarantee lenders can self-certify, providing their borrowers with subsequent-year operating loan advances on lines of credit and emergency advances on lines of credit.
  • FSA will consider guaranteed lender requests for temporary payment deferral consideration when borrowers do not have a feasible plan reflecting that family living expenses, operating expenses, and debt can be repaid; and temporary forbearance consideration for borrowers on loan liquidation and foreclosure actions.

Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with USDA resources. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

Or read more information from the USDA  about farm loans, crop insurance, conservation, and disaster assistance safety net programs at farmers.gov/coronavirus or usda.gov/coronavirus.

Payroll & Taxes

Paycheck Protection Program - (Updated: 5/4/2020)

***UPDATE*** 

The Small Business Administration is still accepting PPP loan applications, but funds may run out soon. Click here to learn more.

If you are unsure whether your business qualifies, it’s not too late to talk with one of our advisors or your lender – but don’t wait! Get in touch with your local Wyoming SBDC Network advisor for no-cost, confidential services by clicking here.

***

Previous Information:

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

Key Aspects:

  • The following entities affected by Coronavirus (COVID-19) may be eligible:
    • Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
    • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of: 500 employees, or that meets the SBA industry size standard if more than 500
    • Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location
    • Sole proprietors, independent contractors, and self-employed persons
    • Faith-based organizations impacted by Coronavirus are eligible to participate in the Paycheck Protection Program, without restrictions based on their religious identity or activities, to the extent they meet the eligibility criteria.
  • The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
  • This loan has a maturity of 2 years and an interest rate of 1%.
  • Review this comparison guide between the various relief efforts from the SBA.

Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with the Paycheck Protection Program. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

Or read more information from the SBA by clicking here.

Employee Paid Leave - (Updated: 4/8/2020)

The Families First Coronavirus Response Act (FFCRA) requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.

Key Aspects:

  • Applies to private employers with fewer than 500 employees. Small businesses with fewer than 50 employees may qualify for exemption from the requirement to provide leave due to school closings or child care unavailability if the leave requirements would jeopardize the viability of the business as a going concern.
  • All employees of covered employers are eligible for two weeks of paid sick time for specified reasons related to COVID-19. Employees employed for at least 30 days are eligible for up to an additional 10 weeks of paid family leave to care for a child under certain circumstances related to COVID-19.
  • Covered employers qualify for dollar-for-dollar reimbursement through tax credits for all qualifying wages paid under the FFCRA.
  • The FFCRA’s paid leave provisions are effective on April 1, 2020, and apply to leave taken between April 1, 2020, and December 31, 2020.
  • Each covered employer must post in a conspicuous place on its premises a notice of FFCRA requirements. You can also find more information about this notice by clicking here.
  • Employers may not discharge, discipline, or otherwise discriminate against any employee who takes paid sick leave under the FFCRA and files a complaint or institutes a proceeding under or related to the FFCRA.

Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with the FFCRA. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

Or read more information at the U.S. Department of Labor & the Internal Revenue Service websites.

Employee Retention Credit - (Updated: 4/8/2020)

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.

Key Aspects:

  • The credit is available to all employers regardless of size, including tax-exempt organizations. There are only two exceptions: State and local governments and their instrumentalities and small businesses who take small business loans.
  • Qualifying employers must fall into one of two categories: 1) The employer’s business is fully or partially suspended by government order due to COVID-19 during the calendar quarter. 2) The employer’s gross receipts are below 50% of the comparable quarter in 2019. Once the employer’s gross receipts go above 80% of a comparable quarter in 2019, they no longer qualify after the end of that quarter.
    1. The amount of the credit is 50% of qualifying wages paid up to $10,000 in total. Wages paid after March 12, 2020, and before Jan. 1, 2021, are eligible for the credit. Wages taken into account are not limited to cash payments, but also include a portion of the cost of employer provided health care.
    2. Employers can be immediately reimbursed for the credit by reducing their required deposits of payroll taxes that have been withheld from employees’ wages by the amount of the credit.

    Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with the Employee Retention Credit. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

    Or read more information from the IRS by clicking here.

    Workers' Compensation and Unemployment Insurance - (Updated: 4/27/2020)

    The Wyoming Department of Workforce Services has put together the following resources to assist employers and employees during the COVID-19 pandemic.

    Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with human resource topics for your small business during the COVID-19 pandemic. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

    Industry-Specific Resources

    Food-Related and Agricultural Businesses - (Updated: 5/4/2020)

    NOTICE: Currently, the Economic Injury Disaster Loan program is accepting new applications from agriculture businesses only. Please click here to learn more.

     

    Check back regularly as we continue to update the resources available in this section.

    Tips:

    • Look into delivery or pickup opportunities for your customers, especially if you have a restaurant or retail business. If your dining space is shut down, consider using your wait staff to make deliveries.
    • Participate in a restaurant “bond” program to get income now. Hear how one Wyoming company found success this way.
    • Check out this COVID-19 Federal Rural Resource Guide from the USDA.
    • Read more about Farm Loans above in the Loans and Capital section of this webpage.

    Additional Links:

    Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with any aspect of your agricultural of food-based business during the COVID-19 pandemic. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

    Government Contracting - (Updated: 4/14/2020)

    If you looking to expand your market to federal, state, or local agencies or are already contracting with the government, the best resource in Wyoming during the COVID-19 pandemic is you local Wyoming PTAC advisor. Co-located with the Wyoming SBDC Network, these advisors are up-to-date on the latest information and are ready to assist you at no cost.

    Tips:

    Additional Links:

    Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

    Manufacturing - (Updated: 4/8/2020)

    Many manufacturers can adapt to the business landscape created by the coronavirus by evaluating their products and their markets.

    Tips:

    Additional Links:

    Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with manufacturing during the COVID-19 pandemic. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page. We’ll set you up with the proper assistance and get you connected with an expert at Wyoming’s Manufacturing Works.

    Tourism and Hospitality - (Updated: 4/14/2020)

    The tourism and hospitality industry plays a major role in Wyoming’s economy. With social distancing and other restrictions in place during the COVID-19 pandemic, this industry is being impacted uniquely. Additionally, Gov. Gordon has signed an executive order directing a 14-day self-quarantine for people coming to Wyoming.

    Tips:

    Additional Links:

    Contact your local Wyoming SBDC Network advisor for no-cost, confidential assistance with resources available for tourism and hospitality businesses during the COVID-19 pandemic. Get in touch with your local advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

    Protect Your Business From COVID-19

    Protect Yourself - (Updated: 4/8/2020)

    For your business to run smoothly, you must first protect your own health.

    Tips:

    • Work from home if possible. Forward your business phones to your cell phone and make sure you have the proper cybersecurity precautions in place if you need to access your business’ network.
    • Wash your hands regularly with soap and water for at least 20 seconds. Use hand sanitizer that contains at least 60% alcohol only if soap and water are not available.
    • Disinfect your business regularly by following this guide from the Centers for Disease Control and Prevention (CDC).
    Protect Your Employees - (Updated: 4/8/2020)

    Employee safety should be a top priority for any business owner. Keep you employees healthy and working by following these tips.

    Tips:

    • Allow employees to work from home if possible. Consider a temporary change in duties to retain your employees.
    • Educate employees. Encourage all employees to regularly wash their hands and clean their workspace.
    • Take steps so employees can avoid physical contact with each and customers (maintain a distance of at least 6 feet).
    • Require sick employees (and employees who have a sick family member at home with COVID-19) to stay home until cleared for work by their physician.
    • Click here to learn more about how to protect your employees from the Wyoming Department of Workforce Services.
    Protect Your Customers - (Updated: 4/8/2020)

    Avoid contact with your customers if at all possible. However, for many essential businesses, this isn’t always an option. Follow these tips below to maintain the highest level of safety for your customers. Find out the latest business affected by public health order on the Wyoming Governor’s website.

    Tips:

    • Transition your business online.
    • Reassure your customers that you are taking steps to protect their health, such as properly cleaning your business at regular intervals and requiring sick employees to stay home.
    • Use phone conversations and video conferencing to meet with customers when possible.
    • Offer hand sanitizer near your business’ entrance and at cash registers.
    • Avoid shaking hands or having other physical contact with customers. Maintain at least 6 feet of space between all customers and employees.
    General COVID-19 Tips for Your Business - (Updated: 5/11/2020)

    .Your local Wyoming SBDC Network advisor is constantly training to stay up-to-date on all the resources and information related to the coronavirus pandemic. Get in touch with you local advisor for no-cost, confidential assistance regarding any of the topics on this page.

    Tips:

    • Beware of scams. As aid programs for entrepreneurs are increasing, so are the amount of scammers trying to take advantage of small businesses. Also, as more and more people are working from home, it is important to make sure your website and internal networks are secure. The Wyoming SBDC Network’s cybersecurity expert can help you protect your business.
    • Learn how to report scam attempts.

    Other Links:

    Get in touch with your local Wyoming SBDC Network advisor by clicking here, or submitting your email and county in the forms at the top or bottom of this page.

    ASSISTANCE IS AVAILABLE

    The Wyoming SBDC Network staff is located throughout the state and is capable and able to meet with you virtually (phone, web conferencing) to assist you.

    We offer confidential, no-cost technical assistance to help create a strategy specific to your business needs.

    Contact your local Wyoming SBDC Network advisor to make an appointment by entering your email address and county in the form below.

    Fill out this form for receive no-cost, confidential assistance to help your business through the COVID-19 pandemic.

    You will then be redirected to an intake form which will gather relevant information that your local advisor will use to help determine your elegibility and schedule a meeting with you over the phone or through video conferencing.

    Get Started Today

    Contact your local small business advisor today for no-cost, confidential assistance

    Accessibility Information


    All Wyoming SBDC Network programs and services are provided to the public on a nondiscriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Language assistance services for clients with limited English proficiency will be provided. Contact: Jill Kline at (307) 766-3405 or wsbdc@uwyo.edu
    Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.

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