• Disaster Loans: Get Help Applying
• Register: SBA Disaster Loan Webinars
• Help from Partners Around Wisconsin
• Get Started: Complete These Forms
• New! COVID-19 Webinars for Government Contractors
• Other Federal and State Resources
• Community Lenders Respond to COVID-19
• SBA 7(a), 504, Micro-loans Can Be Deferred
• Stay Informed

Disaster Loans: Get Help Applying

Wisconsin small businesses and private non-profits are now eligible for SBA's Economic Injury Disaster Loans. 

• Loans are available for up to $2 million.
• These loans can provide working capital to meet the needs of payroll, accounts payable, and fixed debt payments until the situation improves.
• Interest rates are 3.75% for small businesses and 2.75% for non-profits.
• Payments can now be deferred up to 12 months. 
• Terms can go as long as 30 years. 

How can you apply? 

• Online at SBA.gov/disaster
• Need help? Access these step-by-step online instructions
• Individuals who are deaf or hard-of-hearing can call 800-877-8339
• Office of Disaster Assistance help line: 800-659-2955 7a to 9p ET seven days a week

Register: SBA Disaster Loan Webinars

Have loan questions? Get answers.

Wisconsin's SBA office is offering daily webinars to walk you through the application process and answer your questions. Register now through March 28--if demand continues we'll open new sessions  

Register for 10 am webinars:  http://ow.ly/eKOR50yRB1q

Register for 2 pm webinars: http://ow.ly/gQLU50yRAVH 

Help from Partners Around Wisconsin

SBA partners statewide can assist with the SBA Economic Injury Disaster Loan application process and help you address your specific situation.

• Small Business Development Centers and the Institute for Business and Entrepreneurship  have created a  COVID-19 resource page to connect you with local assistance and other resources. You can also reach their Answerline at 800-940-7232.
• The Wisconsin Women's Business Initiative Corporation has seven locations statewide.  Email info@wwbic.com for assistance.  Their many small business classes have moved online; check their website. 
• Western Wisconsin Women's Business Center is working remotely--email for assistance. 
• SCORE Southeast Wisconsin is available by phone and by e-mail for advising, and SCORE Madison  and SCORE Marshfield can be reached by email.  Or visit www.score.org to find an advisor. 
• For Douglas County only: Entrepreneur Fund has COVID-19 Updates & Resources and offering 30-minute consult with a Lender or Advisor by email or phone.

Get Started: Complete These Forms

You'll need to include these forms with your application.  If you're having trouble accessing the loan application, you can do these first. 

• 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)

Once you start the loan application at www.sba.gov/disaster, be sure to check "Economic Injury" for the type of loan you're applying for. 

New! COVID-19 Webinars for Government Contractors

The Wisconsin Procurement Institute is offering webinars with SBA staff and their small business contracting experts this week tailored for government contractors' specific concerns as they navigate the economic downturn and COVID-19 crisis.  All webinars take place 11 am-11:30 am.

Monday, March 23 Register

Wednesday, March 25 Register

Friday, March 27 Register

Other Federal and State Resources

• The IRS has established a web page to help taxpayers, businesses and others affected by the coronavirus. 
• The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus, including use of Family Medical Leave
• New guidance outlines flexibilities that states have in administering their unemployment insurance programs to help Americans affected by coronavirus.
• Wisconsin Economic Development Corporation has announced a grant program to defray payroll and other costs for small businesses with no more than 20 employees.  More detail.and WEDC business resources for COVID-19.

• Small businesses should ensure that anyone promising assistance is legitimate. The FTC has this page to help businesses protect against scams: www.ftc.gov/coronavirus. More resources for cyber scams can be found here: https://www.us-cert.gov/ncas/current-activity/2020/03/06/defending-against-covid-19-cyber-scams

Community Lenders Respond to COVID-19

WWBIC:  

• For current and new small business clients, we are offering fast track loans up to $25,000! Contct Michael Hetzel, Director of Lending: mhetzel@wwbic.com for more details.
• Don’t forget about KIVA!  Kiva is now offering $15,000 loans statewide

1. General information can be found here: https://www.kiva.org/ 
2. Business owners looking to borrow, should follow this link: https://www.kiva.org/borrow 
3. For a WWBIC endorsement or for assistance with this process, please send an email to info@wwbic.com

Hmong Wisconsin Chamber of Commerce:

• Emergency loans up to $10,000 for small businesses in existence for at least two years.  Contact ger@hmongchamber.org. or visit www.hmongchamber.org

SBA 7(a), 504, Micro-loans Can Be Deferred

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.  

Stay Informed

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.  We'll be posting new information on Twitter too--find us there at @SBA_Wisconsin.

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

SBA Wisconsin District Office

310 West Wisconsin Avenue, Suite 580W
Milwaukee, WI 53203
Phone: 414-297-3941

740 Regent Street, Suite 100

Madison, WI 53715

608-441-5263

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