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Wyoming committee approves emergency bridge-loan program for businesses after disasters
Summary
The Senate Agriculture Committee passed Senate File 195 to create a $50 million revolving emergency bridge-loan fund administered through the Department of Agriculture to help small businesses and agricultural operators recover immediately after a governor-declared natural disaster.
Senate President Ogden Beitman introduced Senate File 195 to the Senate Agriculture, State & Public Lands & Water Resources Committee, proposing a state-run emergency bridge-loan program that would make funds available to small businesses in a county subject to a governor-declared natural disaster.
Beitman told the committee the idea grew from observing post-fire damage and recovery needs: "The whole point of this program, Mr. Chairman, is to establish emergency bridge loan program for small businesses affected by declared natural disasters, ensuring they can recover and continue operations." He said loans would cover immediate needs such as fencing repair, livestock replacement and hay purchases and stressed the program is designed to keep businesses operating while insurance or federal aid is pending.
The bill would create a $50 million appropriation from the general fund as a revolving…
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