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 6/17
The SBA is now accepting applications for the Paycheck Protection Program. Please see the information below. You will need to submit your application with a SBA lender.
- The SBA has released a FAQ about the Paycheck Protection Plan - view it here
- View the PPP application 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
- How to calculate PPP loan amounts, 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
- For an FAQ for Faith-Based Organizations Participating in PPP and the EIDL, click here
The WBA has created a PPP forgiveness calculation tool here.
The CARES Act - Updated 6/17
The SBA is now accepting applications for the Paycheck Protection Program. Please see the information below. You will need to submit your application with a SBA lender.
- The SBA has released a FAQ about the Paycheck Protection Plan - view it here
- View the PPP application 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
- How to calculate PPP loan amounts, 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
- For an FAQ for Faith-Based Organizations Participating in PPP and the EIDL, click here
The WBA has created a PPP forgiveness calculation tool 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 6/16
Funded by the federal Coronavirus Aid, Relief and Economic Security (CARES) Act, WEDC's We’re All In Small Business Grant Program will provide $2,500 grants to 30,000 Wisconsin small businesses to assist with the costs of business interruption or for health and safety improvements, wages and salaries, rent, mortgages and inventory.
The We’re All In small business grant application portal opens Monday, June 15th at 8:00am and is scheduled to close on June 23rd at 11:59pm. The application will be live on WEDC’s website on Monday, June 15 via this link https://wedc.org/programs-and-resources/wai-small-business-grant/.
Please find a summary below of the key aspects of the program. Click here for a detailed description of the program, including a checklist of required application documents.
A business may apply for the We’re All In Small Business Grant if it:
- Was in business in February 2020. Businesses that started in 2020 are not eligible;
- Is Wisconsin-based and for-profit;
- Employs 20 or fewer full-time equivalent (FTE) employees, including the owner; and
- Has more than $0 but less than $1 million in annual revenues.
Businesses will not be eligible for the grants if they are:
- Part of a national chain, unless the business is a third-party franchise;
- Industries covered by other Wisconsin CARES Act Coronavirus Relief Fund programs are ineligible for this program. These are:
- Crop Production
- Animal Production or Aquaculture
- Lessors of Residential Buildings and Dwellings (https://doa.wi.gov/Pages/LocalGovtsGrants/COVID-Grants.aspx)
To prepare for the online application process, businesses should be ready to upload the following documents to the WEDC application:
- 2019 federal tax return for business. A 2018 tax return is acceptable, if you have not file your 2019 returns (If you started your business in 2020, you are not eligible for this grant.)
- Signed W-9 form available at www.irs.gov
- An email or letter of acknowledgement from a community organization indicating your business was in operation in February 2020. Click here for a template for the letter. Letters or emails can be from any of the following:
- Chamber of commerce
- Main Street or Connect Communities organization
- Local business improvement district
- Neighborhood economic development association
- Local economic development organization
- County economic development organization
- Municipality, including tribal government
- County
- Local bank, credit union or community development financial institution
- Regional UW Small Business Development Center https://wisconsinsbdc.org/services/covid-19/
- S Export Assistance Center - Wisconsin
- Regional economic development organization
- Regional Planning Commission
- Trade association
Your business will need to identify the Three-digit North American Industry Classification System (NAICS) code that best fits their business: This information may be included in a business’s tax return, or through the NAICS website: https://www.naics.com/naics-code-description/. Click here for a list of the NAICS codes that will be available to select from on the application (in drop down box).
The Dane County Small Business Pandemic Support Grant Program, administered by Dane Buy Local, is available for small businesses experiencing financial difficulties as a result of the COVID-19 outbreak.
By creating this grant program, Dane County and Dane Buy Local hope to help local businesses survive the COIVD-19 public health crisis, which has caused many to temporarily close their doors. Through this grant program, businesses will be able to apply for funding to help stay afloat and retain employees. We encourage small business owners throughout our community to apply.
There is $10.8 million of available funding to support Dane County locally-owned small businesses with employee retention and to mitigate losses from the COVID-19 pandemic. Grant awards will range from $1,000 to $50,000.
For more details and an application, click here.
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 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.
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 SBDC provides a comprehensive list of resources for business owners during these unprecedented times. They're here to help you find the assistance you need to keep your business going during COVID-19.
The SBDC has detailed information on the SBA Economic Injury Disaster Loan, including instructions for how to apply, and FAQ and the ability to speak with their staff if you have questions. Follow the links below to find the information you need:
- To see a list of services they can help with, including SBA loans, WEDC programs and several others, visit https://wisconsinsbdc.org/services/covid-19/
- For detailed information on SBA disaster loans, visit https://wisconsinsbdc.org/services/covid-19/disasterloans/
- For a list of SBDC offices in Wisconsin, visit https://wisconsinsbdc.org/centers/
- 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.
Tax Deferral
The IRS announced on Saturday March 21:
1. Filing deadline extended to July 15, 2020. No need to file Form 4868 or 7004.
This applies to all tax returns due on April 15, 2020. For example:
• Form 1040, 1120, estate, or trust, etc.
What is NOT extended:
• This does not apply to partnership and S-corporation returns that were due on 3-16-2020. Those needed to be filed or extended.
• Form 941 (employment tax) is still due on 4-30-2020.
• W-2’s, 1099’s, 1095’s, etc: “No extension is provided in this notice for the filing of any Federal information return.”
• Each state is making their own decision. The IRS urges taxpayers to check with their state tax agencies for those details.
1. Payment deadline extended to July 15, 2020 with no limitation on amount
Which payments?
• Form 1040 for 2019 balance due payments normally due on 4-15-2020 are now due on 7-15-2020.
• Form 1040 estimated tax payments for 2020 normally due on 4-15-2020 are now due on 7-15-2020.
• This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
What is NOT extended:
• Form 1040 Estimated tax payment due on 6-15-2020. Those payments are still due on 6-15-2020. No extension is provided in this notice for the payment or deposit of any other type of Federal tax
More Info: News Release and Notice 2020-18
Please continue to check the Coronavirus Tax Relief page on IRS.gov.
Lender Resources
The SBA is now accepting applications for the Paycheck Protection Program. Please see the information below.
- The SBA has released a FAQ about the Paycheck Protection Plan - view it here
- View the PPP application 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
- How to calculate PPP loan amounts, 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
- For an FAQ for Faith-Based Organizations Participating in PPP and the EIDL, click here
The WBA has created a PPP forgiveness calculation tool 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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