FINANCIAL ASSISTANCE & TOOLS
Department of Revenue - We're All In Small Business Grant
Helps small businesses get back on their feet as they re-emerge from the COVID-19 pandemic and prioritizes businesses most impacted by the pandemic including restaurants and taverns. Grant details and application are available here.
U. S. Small Business Administration
Wisconsin small businesses and private non-profits are now eligible for SBA's Economic Injury Disaster Loans to meet the needs of payroll, accounts payable, and fixed debt payments during the COVID-19 pandemic. Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship. Applicants may apply online.
Economic Injury Disaster Loan Assistance Portal
Economic Injury Disaster Loan Frequently Asked Questions
How to Apply
COVID-19 Economic Injury Disaster Loan Application
How to Apply (video)
Businesses will be asked to supply the following information as part of the application process:
Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.
Complete copies of the most recent Federal Income Tax Return.
Schedule of Liabilities (SBA Form 2202).
Personal Financial Statement (SBA Form 413).
Profit and loss statements
Monthly sales figures (SBA Form 1368)
SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process at: 1-800-659-2955.
Mentoring & Assistance
Western Wisconsin SCORE and Pierce County Economic Development Corporation are great resources for advice and free mentoring assistance for small business owners including guidance thorough the EIDL application process.
Western Wisconsin SCORE
SCORE Guidelines for Disaster Assistance
SCORE Client Resource Guide
Pierce County Economic Development Corporation
IRS Coronavirus Tax Relief
The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
Coronavirus Tax Relief Summary
Tax Deadline changed – IRS Guidance on Federal Tax payments
Small Business Development Center
America’s SBDCs are working to help small businesses address the business challenges of the coronavirus disease 2019 (COVID-19) pandemic.
SBA Covid-19 Small Business Resources
Informational Webinars: To assist the business community in regards to the loan program, Wisconsin's SBA office is offering daily webinars to answer your questions:
10am Webinars | 2pm Webinars
NEW! USDA Rural Development
USDA Rural Development has financing available to assist everyone in a community.Businesses can be assisted with acquisition, start-up or expansion funds as well as funding for energy efficiency improvements. Housing Programs assist rural residents in purchasing a home or repairing their existing home. Multi-Family Housing Programs can assist owners with rehabilitation and provide financing for new construction or purchase/rehabilitation. Value-Added Producer Grants are available for farmers to conduct feasibility studies/business plans and for working capital to start the operation. Municipalities can be assisted with funding for water and waste systems and for community facilities such as fire trucks, police stations, libraries, etc. Non-profits can be assisted with funding to build facilities and/or purchase equipment. For more information, contact USDA Rural Development at 715-345-7600.
USDA Rural Development Website
USDA Program Flyer
NEW! WEDC FOCUS FORWARD WEB PORTAL
Focus Forward serves as an online one-stop shop for state, federal and other funding and operational assistance programs, while also providing up-to-date information through multimedia formats. Check out their podcast episodes, downloads, live training events, and more!
Focus Forward Portal
Kiva has expanded lending terms/eligibility to help small businesses impacted by the pandemic. Effective immediately, U.S. applicants for a Kiva loan will have access to expanded eligibility and larger loans--the maximum loan on the Kiva platform will increase from $10,000 to $15,000. Applicants may receive a grace period of up to 6 months for greater financial flexibility. Downtown businesses in our communities that are women-, minority- and/or veteran-owned are also eligible for a 50% match from WEDC to expedite their loan. Consider applying or if you have the means, become a lender yourself.
Kiva Loan Program