CARES Act Funding
As a result of CARES Act funding, the Wyoming Small Business Development Center (SBDC) Network received $1.28 million to provide recovery technical assistance for small businesses that have been negatively affected by the current pandemic. The funds, distributed through the U.S. Small Business Administration (SBA), will provide education, training, and business advising to overcome supply chain disruptions, staffing challenges, a decrease in gross receipts or customers, or a closure as a result of COVID-19.
Governor’s Modified Public Health Orders
As businesses begin to open in the state under Governor Gordon’s modified public health orders announced at a news conference April 28, many will not return to business-as-usual and operational and financial pressures will continue. The funds provided to the Wyoming SBDC Network are aimed at providing continuing advising and education assistance for the next year, as recovery will be an ongoing process.
“As Wyoming’s economy reawakens, our small businesses may find themselves facing continued operational challenges,” Governor Mark Gordon said. “This funding will provide much-needed assistance to businesses impacted by COVID-19.”
Assisting the SBA
“The CARES Act provides resources that will enable our SBA Resource Partners, including the Wyoming SBDC Network, to provide specialized one-on-one recovery assistance to businesses in Wyoming and across rural America,” said Dan Nordberg, director of the SBA’s Office of Rural Affairs & Region VIII Administrator.
The SBA identified eight core areas for small business recovery programming: accessing financial resources, workplace health and safety threats, disaster preparation, online commercialization, alternate modes of service delivery, intellectual property protection, cybersecurity, and mitigating the effects of reduced travel.
“As part of the Loans, Banking and Insurance Subcommittee of the Financial Sector Task Force led by Wyoming State Auditor Kristi Racines, Wyoming SBDC State Director Jill Kline and her team have played a key role in assisting Wyoming small businesses with understanding and applying for financing through the Paycheck Protection Program and Economic Injury Disaster Loans,” said SBA Wyoming District Director Amy Lea. “These resources will enable them to continue to assist Wyoming small businesses with recovering from the devastating impacts of Covid-19 on their businesses in the coming weeks and months.”
University of Wyoming Goals
The CARES funding is specifically intended for programming, education, and advising to existing Wyoming businesses whose operations have been affected by COVID-19. The Wyoming SBDC Network will also continue to provide business advising, education, and technical assistance to all other small businesses in the state, including any pre-venture clients. The University of Wyoming (UW) hosts the Wyoming SBDC Network within its Office of Research and Economic Development.
“While the SBDC continues to provide its valuable services to Wyoming small businesses, this funding allows it to extend its reach with additional programming targeted directly at economic recovery and resiliency. The University of Wyoming is delighted to support the SBDC and the Wyoming Business Council in providing these services at this time of extraordinary need,” said UW Vice President for Research and Economic Development Edmund Synakowski.
Coordination with the Wyoming Business Council
The Wyoming SBDC Network will provide a mixture of online programming, one-on-one advising, and industry expert consulting to businesses experiencing or recovering from an interruption in operations related to COVID-19. These economic recovery steps are a statewide effort and will be coordinated with other entities in the state, such as the Wyoming Business Council (WBC), to ensure that services are not duplicated and that programming will reach those most affected by the disruption in business.
“We understand how much our Wyoming businesses need seamless collaboration and cooperation from their state resources at this time,” said Josh Dorrell, WBC CEO. “The Business Council is working closely with our partners, particularly the SBDC, to ensure efficiency in this effort.”
You Can Help Decide Which Services Are Offered
The Wyoming SBDC Network would love to hear about the specific needs of small businesses to help plan programming and secure professional resources to provide assistance. Please take a moment to complete this anonymous, three-item survey at https://bit.ly/WY_SBDC_COVID_Survey.
Start Receiving Assistance Now
The Wyoming SBDC Network provides confidential, no-fee advising and technical assistance to all Wyoming small businesses in any stage of their life cycle. Click here to make an appointment with your local business advisor.
The Wyoming SBDC Network also maintains a regularly updated and comprehensive collection of COVID-19-related resources for small businesses at WyomingSBDC.org/covid19.