News: Update on Available Relief Programs

Wisconsin District Office--July 14, 2020

u s small business administration
Coronavirus (COVID-19): Small Business Guidance & Loan Resources

 

Reminder: Available Small Business Relief Options

 

Update on the EIDL Advance:  After providing 6 million small businesses and nonprofits with grants of up to $10,000, the EIDL Advance's $20 billion has been fully allocated. More than 60,000 Wisconsin organizations received $215.9 million since March 27.  Relief options are still available through the programs below:  

Paycheck Protection Program:  This forgivable loan helps businesses and nonprofits pay employees for up to 24 weeks. The deadline for loan approval is now August 8. Connect with a lender through LenderMatch or find one near you.

Economic Injury Disaster Loan: This working capital loan can help small businesses and non-profits pay expenses they are not able to due to income loss caused by the COVID19 pandemic. Apply

SBA Debt Relief SBA is paying the principal, interest, and fees on existing SBA loans for six months.  For new SBA loans approved by September 27, SBA will also pay principal, interest and fees for six months.  These are open to small businesses only.  Find a lender or connect with one through SBA LenderMatch.

SBA Express Loans:  Express lenders can approve these loans quickly for up to $1 million through December 31, and veterans pay no up-front guaranty fee on them. Find an SBA Express lender. 

All relief options at www.sba.gov/coronavirus


Small Business Summer School

With SBA's Wisconsin Staff 

SBA Funding Options:    July 15, 10 am,  July 22, 10 am , July 29, 10 am

Coronavirus Tax Relief for Employers & Business Owners: with IRS and Department of Labor, all sessions cover the same information.  2-3:30 pm:   July 16 ,  July 23 ,  July 30

Northwoods/Northeast Wisconsin Government Opportunities,  hosted by Wisconsin Procurement Institute (WPI), July 21, 1 pm

The HUBZone Program – Certification Benefits and Regulations, hosted by WPI, July 22, 1 pm

Partner Trainings

HR101, WWBIC, July 16, 12 pm

Marketing Mondays: Marketing Playbook - Early Wins, WWBIC, July 20, 5 pm

Projections & Cashflow, WWBIC, July 22, 6 pm

IT Security Roundtable, WWBIC, July 23, 12 pm

Marketing Mondays: Marketing Playbook - Plan Inventory, July 27, 5 pm

Budgeting That Works, July 27, 6 pm

Find more partner assistance and training at www.sba.gov/local-assistance


Stay Updated

1. Visit www.sba.gov/coronavirus 

2. If someone forwarded you this newsletter, you can sign up at www.sba.gov/updates--be sure to include your zip code to get content customized for Wisconsin and your area.  Then bookmark this page to easily find the latest newsletter. 

3. Follow us on Twitter at @SBA_Wisconsin.

4. If you have questions about your already submitted EIDL application, contact the SBA Disaster Customer Service Center at (800) 659-2955 or disastercustomerservice@sba.gov.

5. Other questions? Contact our office at wisconsin@sba.gov. 

Our Milwaukee phones are not currently working--use wisconsin@sba.gov to contact us.