The Wisconsin Small Business Development Center Network has created this page to anchor important resources and information amid quickly changing conditions and unprecedented measures during the COVID-19 pandemic.
Staff across all of our centers are available to work with you via phone or virtual means. We are thinking of you and the challenges you face. And we are here to help as best we can.
We’re here to help.
SBA Economic Injury Disaster Loan Assistance
NOTICE: As of 11 a.m. Monday, May 4, the SBA has resumed accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only, in order to provide unprecedented relief to U.S. agricultural businesses. At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received.
Applicants who have already submitted will be processed on a first-come, first-served basis; contact SBA disaster customer service if you have a question about your loan status.
The U.S. Small Business Administration’s Economic Injury Disaster Loans (EIDL) are available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations. 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.
The federal Coronavirus Aid Relief and Economic Security (CARES) Act also introduced an expansion of EIDL to include up to a $10,000 advance.
To check the status of your application, contact the SBA.
Note: The SBA has 3 other coronavirus relief measures in place.
- 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 is covered in detail on this page as well.
Paycheck Protection Program
NOTICE: The SBA has resumed accepting new Paycheck Protection Program (PPP) applications as of 9:30 a.m. Monday, April 27.
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. This became possible thanks to the federal CARES Act.
Businesses apply for PPP through approved lenders. This PPP lender tracker is searchable by ZIP code.
If you don’t have a business loan, you can reach out to your current bank for a referral. If you have a loan but your lender is not a PPP lender, contact us if you’d like assistance in getting connected or check our Paycheck Protection Program FAQs.
NOTE: To check the status of your application, contact your lender.
PPP Application Video Walkthrough: Consultant Kristi Smith of the Southwest Wisconsin SBDC walks you through the SBA PPP application process.
PPP Loan Forgiveness: On May 15, the SBA released its application form and detailed instructions, including measures to reduce compliance burdens and simplify the process for borrowers:
WEDC Resources for Businesses & Employers
With input from national and state health and industry experts and in partnership with the Wisconsin Department of Health Services, the Wisconsin Department of Agriculture, Trade and Consumer Protection, the Wisconsin Department of Safety and Professional Services, the Wisconsin Department of Tourism and regional economic development partners, the Wisconsin Economic Development Corporation has compiled resources to help you get back to business while taking the necessary precautions to maximize safety.
- Reopen Guidelines (general and industry-specific)
- PPE Supplier Network
- Ethnic Minority Recovery Grants: 1,000 ethnically diverse micro-businesses are eligible to receive grants of $2,000 each under a new state program. Applications will be accepted from May 18-26, 2020 (a two-day extension was granted in hopes of having more businesses apply).
- We’re All In Small Business Grants: Funded largely by the CARES Act, this $75 million initiative will provide $2,500 grants to assist with the costs of business interruption or for health and safety improvements, wages and salaries, rent, mortgages, and inventory. Businesses will be able to apply in early June.
- Businesses CAN apply for both Ethnic Minority Recovery Grants AND We’re All In Small Business Grants.
- Related: County-by-county list of safer-at-home orders via Wisconsin Bankers Association — Please check your local municipality for the latest, as decisions may change rapidly.
- Related: Wisconsin Economic Development Association Road to Recovery recommendations
Wisconsin Resources for Businesses & Employers
For the most up-to-date information on COVID-19, visit Wisconsin’s Department of Health Services website. To follow the statewide response to COVID-19, visit the inter-agency site.
- Overall health information, latest data and wide-ranging resources. Also:
- Testing supplies: Offer or request them
- How to get tested: Search sites
- Personal Protective Equipment guidance
- Businesses, Employers and Workers overview
- Resilient Wisconsin: Self-care and coping
- Badger Bounce Back, Be Ready Guide: Joint guide from Gov. Tony Evers and WEDC for businesses and employees (full plan)
- Workplace Safety Page from the Department of Workforce Development
- Health and Safety Best Business Practices to Reopen During COVID-19, from UW-Madison Division of Extension
Unemployment
The Wisconsin Department of Workforce Development (DWD) is encouraging people to learn more about unemployment and apply online due to unprecedented call volume and tens of thousands of applications. DWD says over 98 percent of those who have applied through the website have been able to successfully start, complete and file their claim for unemployment benefits. Below are popular links to help answer your questions.
Federal Guidance
Federal guidance and resources to help your business respond to COVID-19. The agencies will be updating their pages regularly as regulations and processes change:
- Federal Resources for Small Businesses, a website with multiple agency resources
- SBA Guidance and Resources
- CDC Guidance for Reopening
- CDC Interim Guidance
- Department of Labor Resources
- IRS and Tax Relief
- IRS Employee Retention Credit under the CARES Act
- Farmers.gov USDA COVID-19 Resources
- Coronavirus Recovery Information in Other Languages
WBD Small Business Resources
WBD, Your Business Finance Resource, has curated a directory of small business resources.
In addition to their deferment program specifically for WBD business borrowers, they offer a resource page for business borrowers to access financial aid information from state and federal programs.
For more than 35 years, WBD has been helping small businesses get the money they need to grow and succeed. As one of the top Certified Development Companies in the country, WBD has a full range of resources to serve business lending needs from tens of thousands of dollars to ten million dollars. If your business is ready to take the next step, let the lending experts at WBD help make it possible.
WWBIC Fast Track & Kiva Loans
WWBIC is open for business virtually to all! For current and new small business clients, they are offering fast track loans up to $25,000! Find out more and apply here.
Access WWBIC Classes here.
In response to the COVID-19 pandemic, Kiva US is offering small business applicants expanded loan sizes, now up to $15,000 and grace periods from 1-6 months.
Please find an announcement about Kiva US product changes here. An FAQ regarding the product changes can be found here.
- To apply kiva.org/borrow
- For help kivaushub.org/application
- To reach Kiva: Kiva Greater Madison area, Kiva Greater Milwaukee, Kiva West Allis, Main Street or Connected Communities
Institute for Business & Entrepreneurship COVID-19 Resources
The Institute has created an anchor page to update clients on how to contact us, event and class modifications, resources and ways to support small businesses.
Client FAQ
Wisconsin SBDC staff has curated and is updating a list of common questions we are fielding, with answers, to help address your most important questions.
Still have questions?
If you still have questions about your small business, let us know.