Governor Mark Gordon Friday encouraged those small businesses in the state who have been struggling economically during the COVID-19 restrictions to apply for financial aid available to them. He pointed out that the Small Business Administration Payroll Protection Program is still accepting applications, and funds from the program have not been exhausted.
Gordon said, “Loans can be up for two months if a business’s average monthly payroll costs from last year plus an additional 25% of that amount up to $10-million. Many Wyoming banks and credit unions are reporting that they have received loan approvals from the SBA for nearly all of the PPP loan applications that they had in their pipelines, and they are accepting new applications while funds remain available.”
He went on that anyone unsure of if their business qualifies may still speak to a lender to find out, and he reiterates that nearly all of the applications for such assistance have been approved.
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