FINANCIAL ASSISTANCE & TOOLS
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
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
Wisconsin Economic Development Corporation (WEDC)
Included on this page are resources available to Wisconsin businesses from WEDC and other local, state and federal agencies. You are encouraged to visit this page regularly, as this directory will be updated with new information and resources as it becomes available.
Navigating Through COVID-19 in Wisconsin
WEDC’s Small Business 2020 Grant Program
Small Business 2020 (SB20/20) is a $5 million grant program to assist businesses with no more than 20 employees to cover rent and to meet payroll expenses, including paid leave; providing grants of up to $20,000 to targeted businesses, especially retailers, restaurants and small service providers. The grants will be deployed by partnering with the State’s 23 community development financial institutions (CDFIs). According to the WEDC, the intention is to expand this program to larger businesses as resources become available.
WEDC SB20/20 Information
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