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COVID-19 Small Business Resources
WISCONSIN ECONOMIC DEVELOPMENT CORPORATION
Kiva lenders have shown their commitment to providing financial assistance to all by making 0% interest loans to entrepreneurs in the U.S. on Kiva.org for the last 10 years. In today’s difficult circumstances, Kiva would like to make it as easy and impactful as possible for small businesses in the U.S. to have access to affordable capital on the Kiva platform — capital that may be the difference between shutting down and keeping their doors open.
Effective immediately, U.S. applicants for a Kiva loan will have access to the following:
- Expanded eligibility: More businesses in the US will be eligible for a Kiva loan than ever.
- Larger loans: The maximum loan on the Kiva platform will increase from $10,000 to $15,000.
- Grace period: New borrowers may access a grace period of up to 6 months for greater financial flexibility.
Contact Errin Welty of WEDC for more information at firstname.lastname@example.org or 608.210.6832.
WISCONSIN SMALL BUSINESS DEVELOPMENT NETWORK
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 Wisconsin SBDC centers are available to connect via phone or virtual means.
UNITED STATES SMALL BUSINESS ADMINISTRATION
The U.S. Small Business Administration (SBA)’s Economic Injury Disaster Loans (or working capital loans) are available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations. They have set up a page to help you navigate the process.
Metropolitan Milwaukee Association of Commerce (MMAC)
Gener8tor is hosting emergency one-week virtual programs for small businesses affected by the COVID-19 outbreak. These programs will feature daily webinars designed to identify, understand and help small businesses secure resources to withstand the current crisis. One-on-one office hours will also be available. Business owners, nonprofit leaders, startup operators, freelancers, and artists wishing to enroll can sign up on the gener8tor Emergency Response Program website.
Wisconsin Women’s Business Initiative Corporation (WWBIC)
WWBIC has moved all business and financial educational programming on-line and on-demand. WWBIC is also working with federal, state and local elected officials to support the many WWBIC borrowers, entrepreneurs and businesses in need of loan capital now. WWBIC is offering loan modifications options to current loan clients affected by COVID-19. In some cases, these small business owners may have options for deferments, covered interest payments, and direct grant support for payroll and rent. For more information contact Jaimie Charon at email@example.com or WWBIC Servicing at firstname.lastname@example.org. For current and new small business clients, WWBIC is offering fast track loans up to $25,000. Contact Michael Hetzel at email@example.com for more details.
Hmong Chamber of Commerce
The Hmong Chamber of Commerce is offering an emergency loan fund in response to COVID-19. Small businesses can apply for a loan starting at $5,000 and up to $10,000. The business is required to have existed for a minimum of two years and be located in a low to moderate income tract or be a minority-owned business in Wisconsin. Once the application is complete, the business owner can send it and the other requirements to Yuli Her, Business Development Coordinator, at firstname.lastname@example.org.
State of Wisconsin Resources
- Wisconsin Department of Workforce Development (WDWD) – Click here for more information regarding Public Information for Unemployment for COVID-19.
- Coronavirus Information for Partners -Answers to frequently asked questions by the Wisconsin Department of Workforce Development.
- COVID-19: How we can help businesses – The Small Business Development Center-Institute for Business & Entrepreneurship has created a page with important information for its clients amid quickly changing conditions and unprecedented measures put into place during the COVID-19 pandemic.
- U.S. SBA Economic Injury Disaster Loan (EIDL) Program – A disaster declaration for economic injury related to the COVID-19 pandemic has been submitted to the SBA by Wisconsin Emergency Management and the Wisconsin’s Governor’s Office. Businesses can now apply for emergency Disaster Loan Assistance through the online portal.
General information is available for disaster assistance here: https://www.sba.gov/funding-programs/disaster-assistance
For additional information, please contact the SBA Disaster Assistance Customer ServiceCenter. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail email@example.com.
- U.S.Chamber of Commerce Foundation: Employers with 3 – 20 employees can apply for grants starting Monday, April 20. These have to be businesses in “distressed communities” (zip codes 53172 qualify).
- Coronavirus Tax Relief – The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
- Coronavirus Resources – The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus.
- Coronavirus: Resources, Updates, and What You Should Know – The U.S. Treasury Department is supporting American workers and businesses who are impacted by the coronavirus.
- U.S. Chamber of Commerce
- U.S. Small Business Association Toolkit
- National Main Street
- International Downtown Association
- Facebook Small Business Grants – Facebook understands that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. Facebook is offering $100M in cash grants and ad credits to help during this challenging time.
- UW Credit Union Emergency Personal Loan – For those members who have been financially impacted by the COVID-19 outbreak, they are offering a low-rate personal loan to help with budgeting concerns.
- USBG National Charitable Foundation’s Bartender Emergency Assistance Program – Emergency funding for bar industry staff who need financial support, can apply to the USBG National Charitable Foundation’s Bartender Emergency Assistance Program. USBG membership is not required to receive funds. Click here for USBG grant eligibility requirements, selection criteria, and the applications.
- WEBINAR – How your business can withstand a global pandemic outbreak – MMAC held this webinar on March 17th to discuss how business leaders are adjusting to the pandemic. Click here for a recording of the Webinar.
- League of Wisconsin Municipalities: Resources and Information
- LISC Small Business Relief Grants
Stephanie Hacker, AICP, LEED AP
Economic Development Director