We know small businesses are facing challenges on a daily basis due to the COVID-19 pandemic. In addition to our deferment program specifically for WBD business borrowers, we offer this resource page for business borrowers to access financial aid information from state and federal programs. Please note - the programs listed on this page are currently operational with regulations that are now implemented. It will be updated as new programs and regulations become available.
Paycheck Protection Program (PPP) - Updated 8/28/20
As of August 8, the SBA is no longer accepting applications for Paycheck Protection Program loans. However, business owners may still apply for PPP loan forgiveness.
- To view an FAQ on loan forgiveness, click here
- To view the PPP loan forgiveness application instructions, click here
- To view the PPP loan forgiveness application , click here
- For a list of SBA lenders, click here
- For affiliation rules applicable to the PPP, click here
- To see the Interim Final Rule for Applicable Affiliation Rules for the PPP, click here
- To see the Interim Final Rule for Treatment of Owners and Forgiveness of Certain Nonpayroll Costs, click here
- For an FAQ for Faith-Based Organizations Participating in PPP and the EIDL, click here
The CARES Act - Updated 8/28/20
As of August 8, the SBA is no longer accepting applications for Paycheck Protection Program loans. However, business owners may still apply for PPP loan forgiveness.
- To view an FAQ on loan forgiveness, click here
- To view the PPP loan forgiveness application instructions, click here
- To view the PPP loan forgiveness application , click here
- For a list of SBA lenders, click here
- For affiliation rules applicable to the PPP, click here
- To see the Interim Final Rule for Applicable Affiliation Rules for the PPP, click here
- To see the Interim Final Rule for Treatment of Owners and Forgiveness of Certain Nonpayroll Costs, click here
- For an FAQ for Faith-Based Organizations Participating in PPP and the EIDL, click here
Click here to access this guide that provides information about SBA programs and initiatives, including the Paycheck Protection Program.
Business Loans and Grant Information - Updated 8/28/20
Administered by the Wisconsin Department of Administration (DOA), this program provides eligible organizations grant awards of up to $250,000 to cover pandemic-related impacts such as: lost revenue, increased workers compensation costs, cleaning and sanitization, and purchases of services or equipment to facilitate telework by employees.
Eligible organizations must have a primary mission to produce, present or exhibit cultural disciplines such as music, dance, theater, literature and the visual arts, or items of environmental or scientific interest. Full program details, eligibility standards, grant application, and program contact information are available on the DOA website.
Grant applications are due to DOA by no later than 2 p.m. on Wed., Sept. 30, 2020. Interested applicants are encouraged to attend a program webinar on Sept. 10, 2020; details are available here.
The SBDC has released a workbook for business owners to help them with future business planning and best practices. This guide - Navigating the New Normal: A practical Guide to COVID Response for Small Businesses, can assist business owners to:
- Reflect on where they were and the decisions they made at the beginning of COVID to see how those decisions impacted the business.
- Re-evaluate their business more holistically by identifying what best practices they would like to begin, continue or enhance moving forward.
- Refocus their business plan by narrowing down their ideas into top priority SMART goals that they can then act on themselves or assign to another member of their team.
In addition to this guide, the SBDC - funded in part by the Small Business Administration - also offers a wide range of courses taught by experts in their respective fields as well as no-cost business consulting.
The Local Initiatives Support Corporation, with help from funders like Verizon and Sam's Club, are providing grants to small businesses to help keep them functioning and remain vital facets of their local economies.
LISC Grants are available up to $10,000. To learn more, click here. Applications are currently not being accepted until September.
Small business owners in all U.S. states are able to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. Recipients do not have to be approved for a loan in order to receive the advance, but the amount of the loan advance will be deducted from total loan eligibility.
The SBA is accepting applications for all eligible businesses and agricultural businesses. The application is available here.
The U.S. Secretary of Agriculture unveiled a one-stop shop of federal programs that can be used by rural communities, organizations and individuals by the COVID-19 pandemic. For more information on funding and partnership opportunities to help address this pandemic, see the COVID-19 Federal Rural Resource Guide.
Click here for programs available to USDA B&I and REAP borrowers/lenders
The Wisconsin Women's Business Initiative Corporation (WWBIC) is introducing two loan options for existing business owners available during COVID-19. The program is now offered through June 30, 2020. Borrowers can choose from a term loan or a line of credit. To learn more about these Fast Track Loan Programs, click here. If you're looking for information specifically on their Fast Track Line of Credit, click here.
- The EBL Program is designed to supplement the Agency's disaster loan capabilities and authorizes SBA Express Lenders to provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts of up to $25,000 for disaster related purposes to small businesses who may be awaiting long-term financing, including EIDLs.
- Please note: EBL loans can only be made by SBA Express Lenders that had a valid SBA Form 2424 in effect as of the date of the applicable disaster.
- SBA Express Lenders may only make EBL loans to eligible small businesses with which the Lender had an existing banking relationship on or before the date of the applicable disaster.
- For more information on Express Bridge Loans, click here.
In response to COVID-19, the Otto Bremer Trust (OBT) has established a $50 million emergency fund through its Community Benefit Financial Company (CBFC) subsidiary to provide financial support to Minnesota, Wisconsin, North Dakota, and Montana nonprofits and other community organizations impacted by and responding to the pandemic - https://ottobremer.org/emergency-fund/
Business Development Partners
SBDC and WBD have partnered with various Wisconsin organizations that are committed to offering assistance for small businesses during the current pandemic. Click the organization name below to be redirected to their websites:
Federal And Government Information
The Office of Inspector General has asked that business owners and borrowers be on the lookout for scams and fraud schemes related to economic stimulus programs offered by the SBA in response to COVID-19. To find out more and how to spot potential fraud, go here.
- For information on all federal programs, visit www.usa.gov/coronavirus
- The U.S. Department of Treasury offers information you may find useful - https://home.treasury.gov/coronavirus
- The Small Business Administration and Wisconsin Procurement Institute are offering webinars that focus on providing up-to-date information relevant to businesses with government contracts. These webinars are offered three times a week, Monday, Wednesday and Friday at 11:00. Go here to see upcoming dates and to register.
Employer Resources
- The Department of Labor is providing information on how small and midsize employers can begin taking advantage of two new refundable payroll tax credits designed to immediately and fully reimburse them, dollar for dollar, for the cost of providing coronavirus-related leave to their employees.
- You'll also find information on the Families First Coronavirus Response Act, which requires certain employers to provide employees with paid sick or family leave for specified reasons related to COVID-19.
- Visit https://wisconsinsbdc.org/services/covid-19/disasterloans/ for information on keeping employees and customers safe.
- For information on developing a preparedness plan for a disruption in your business services, visit www.sba.gov/coronavirus.
- To learn about potential assistance cyber scams, the FTC has developed a page to help you - http://ftc.gov/coronavirus. Other resources on this topic can be found here.
Lender Resources
As of August 8, the SBA is no longer accepting applications for Paycheck Protection Program loans. However, business owners may still apply for PPP loan forgiveness.
- To view an FAQ on loan forgiveness, click here
- To view the PPP loan forgiveness application instructions, click here
- To view the PPP loan forgiveness application , click here
- For a list of SBA lenders, click here
- For affiliation rules applicable to the PPP, click here
- To see the Interim Final Rule for Applicable Affiliation Rules for the PPP, click here
- To see the Interim Final Rule for Treatment of Owners and Forgiveness of Certain Nonpayroll Costs, click here
- For an FAQ for Faith-Based Organizations Participating in PPP and the EIDL, click here
- The EBL Program is designed to supplement the Agency's disaster loan capabilities and authorizes SBA Express Lenders to provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts of up to $25,000 for disaster related purposes to small businesses who may be awaiting long-term financing, including EIDLs.
- Please note: EBL loans can only be made by SBA Express Lenders that had a valid SBA Form 2424 in effect as of the date of the applicable disaster.
- SBA Express Lenders may only make EBL loans to eligible small businesses with which the Lender had an existing banking relationship on or before the date of the applicable disaster.
- For more information on Express Bridge Loans, click here.
Click here for programs available to USDA B&I and REAP borrowers/lenders
Contact WBD:
4618 South Biltmore Lane
Madison, WI 53718
Phone: (608) 819-0390
Fax: (608) 819-0393
Toll Free: (800) 536-6799
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