Coronavirus: Small Business Resources and Updates

Wisconsin District Office--March 18, 2020

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COVID-19: Guidance for Small Businesses  sba.gov/coronavirus

 

What's Happening Now?

The SBA will soon be providing Wisconsin small business assistance through its disaster loan program. Governor Evers has already submitted the declaration request, thanks to an easing of requirements by the SBA Administrator yesterday and we expect approval very soon. 

 While no one can apply for a loan until the declaration is approved, you can get started right now with forms you'll need and be ready to go when the portal opens.

  • Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.
  • Complete copies of the most recent Federal Income Tax Return.
  • Schedule of Liabilities (SBA Form 2202).
  • Personal Financial Statement (SBA Form 413).
  • Profit and loss statements
  • Monthly sales figures (SBA Form 1368)

For more on SBA programs for the coronavirus, please visit www.sba.gov/coronavirus.


We know that Wisconsin's 452,000 small businesses are concerned about staying healthy, taking care of themselves and their families, and staying in business during this unprecedented situation. 

Find SBA assistance near you

SBA-backed loans

  • Small businesses with SBA-backed micro-loans, 7(a) loans, and 504 loans can request deferrals of three-six months. Contact your lender for details.  

Other Federal and state resources



Steps for Government Contractors

If a situation occurs that will prevent small businesses with federal government contracts from successfully performing, they should reach out to their contracting officer and seek extensions before they receive cure notices or threats of termination. SBA’s Lead Business Opportunity Specialist Shane Mahaffy can help affected small businesses engage with their contracting officer.


Cancelled or Postponed Events

The SCORE/SBA Awards Breakfast planned for May 8 and National Small Business Week May 3-9 have been postponed--new dates will be announced when available. The Boots to Business: Reboot scheduled for March 27 in Stevens Point has been cancelled. Due to CDC and Wisconsin Department of Health Services guidance, most events have been cancelled,  postponed, or moved online.  When in doubt, check with the host organization. 


Want More Updates?

If someone forwarded you this newsletter, you can sign up at www.sba.gov/updates--be sure to include your zip code to get news customized for Wisconsin and your area.  You can also follow us on Twitter at @SBA_WIsconsin.