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
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.
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.
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
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 signed March 27.
Businesses apply for PPP through lenders. This PPP lender tracker is searchable by ZIP code. (Note that main offices are populated but branch offices may not appear yet.)
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.
PPP Application Video Walkthrough: Consultant Kristi Smith of the Southwest Wisconsin SBDC walks you through the SBA PPP application process.
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.
Wisconsin Resources for Businesses & Employers
Additional guidance and resources to help Wisconsin businesses respond to COVID-19. Stay up-to-date at Wisconsin.gov as the situation progresses.
- Wisconsin Safer At Home: Order, news release and FAQ
- Unsure about exemptions? Find out businesses are classified as essential: WEDC Essential Business Declaration
- Wisconsin State Government COVID-19 Response Update (March 25, 2020) – Recorded Webinar
WEDC Small Business 20/20 Grant Program
The Wisconsin Economic Development Corporation (WEDC) created a program to provide grants to targeted businesses throughout the state. On March 17, $5 million in funding was approved for the effort to help “the smallest of the small,” known as Small Business 20/20 (SB20/20).
SB20/20 will provide grants of up to $20,000 to businesses with no more than 20 employees to cover rent and to meet payroll expenses, including paid leave.
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:
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! Please contact Michael Hetzel, Director of Lending: for more details.
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.