COVID-19

SBA Economic Injury Disaster Loan Assistance

NOTICE: Starting the week of April 6, 2021, the SBA raised the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.
The deadline for Economic Injury Disaster Loan (EIDL) applications has been extended to Dec. 31, 2021.

The U.S. Small Business Administration’s Economic Injury Disaster Loans (EIDL) are available to small businesses via funding from federal Coronavirus Aid Relief and Economic Security (CARES) Act. We set up a page to help you navigate the process: wisconsinsbdc.org/disasterloans.

These working capital loans may be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred.

EIDL applications will be processed on a first-come, first-served basis; contact SBA disaster customer service if you have a question about your loan status.

Note: The SBA has other coronavirus relief measures in place; check for your cross-program eligibility.

En español: You can also learn about all of the SBA relief programs in Spanish.

• SBA Express Bridge Loans allow small businesses that currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
• Through SBA Debt Relief, the SBA will automatically pay the principal, interest and fees of 7(a), 504, and microloans for a period of six months.
• The Paycheck Protection Program, Shuttered Venue Operators Grant and Restaurant Revitalization Fund are all covered in detail on this page as well.

Paycheck Protection Program

NOTICE: The SBA has reopened applications for the Paycheck Protection Program First Draw PPP Loans AND Second Draw PPP Loans. The program is now open to all lenders.

The Paycheck Protection Program is an SBA loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities.

If you are looking for a lender, use the Lender Match Tool. Otherwise, check our Paycheck Protection Program FAQs or contact us.

NOTE: To check the status of your application, contact your lender.

Restaurant Revitalization Fund

The U.S. Small Business Administration’s Restaurant Revitalization Fund (RRF) was established by the American Rescue Plan Act.

The RRF will offer $28.6 billion in grants to hard-hit restaurants and bars, with restaurants able to apply for grants based on lost revenue. Additionally, $5 billion of that total will be set aside expressly for businesses with 2019 gross receipts of less than $500,000.

Generally speaking, restaurants can apply for grants that are equal to 2020 gross revenue minus 2019 gross revenue. (Grant funds will not be taxed like income.)

For businesses in operation for all of 2019 and 2020, the maximum grant size will be $5 million for restaurants and $10 million for restaurant groups.

The grants can be taken even if businesses have received other federal relief, including PPP, EIDL and the Employee Retention Tax Credits, though any PPP loans already received will be subtracted from the eligible grant total.

The application time period is expected to be announced soon; restaurants will be able to apply via the web or trusted point-of-sale (POS) service providers. In the meantime, prepare your documentation and learn more about how to apply. IMPORTANT NOTE: On Days 1 to 21, the SBA will accept applications from all eligible applicants but only process and fund priority group applications: businesses owned by women, veterans or socially/economically disadvantaged groups.

COVID-19 Wisconsin Business Recovery Calendar

This calendar is a list of all COVID-19 business recovery events in Wisconsin. Please use the searchable fields to find the event that is right for your small business, in your area.