Prosperity Southwest Wisconsin is dedicated to providing the most up-to-date information for business assistance during this pandemic. The resources below outline available programs and funding. You may also contact Southwest Wisconsin Small Business Development Center for assistance or your Local Economic Development Organization.
4/7/2020: At the current time, it is recommended that you apply for all funding available and applicable to your small business. Once you receive funding offers, then you can discuss with your financial institution, accountant, or Small Business Consultant on the implications of accepting one funding option over another. IMPORTANT NOTE: If you applied for the SBA Disaster Loan PRIOR to March 30, please fill out a new form as well.
4/9/2020: *NEW*Marketing Grant Opportunity from Woodward Community Media. More details here!
4/13/2020: USDA has compiled a PDF with links to programs and a comprehensive chart for an easy to follow resource guide of Federal Programs. Find it here.
4/20/2020: The Save Small Business Fund is a grant making initiative offerering short-term relief for small employers in the United States and its territories. This is an initiative of the U.S. Chamber of Commerce Foundation. To apply, you must run a small business or chamber of commerce with between 3 and 20 employees. The business must be located in an economically vulnerable community. This is defined as the bottom 80% of the most economically distressed zip codes n the United States, as ranked by the Distressed Communities index. Before starting the application, you will be asked for the zip code where you are registered by the IRS as doing businesses, which will confirm your eligibility. Find the application here.
5/4/2020: Covid-19 Resources for Manufacturers, found here.
5/11/2020: Wisconsin's Reopening Guide, found here.
5/11/2020: Ethnic Minority Emergency Grant. A business may apply for a one-time grant of $2,000 for short-term operations assistance through Wisconsin's Collective Ethnic and Diverse Organizations. More information here.
5/13/2020: Tax Credits for Small and Midsize Businesses can claim two new refundable payroll tax credits, more information here.
SBA has many financing programs available for small business. Currently, their two most popular options for businesses dealing with the COVID-19 pandemic are the Paycheck Protection Program and the Economic Injury and Disaster Loan. SW WI SBDC has also made a helpful video guide that walks you through the Economic Injury and Disaster Loan Application.
Other SBA Programs include SBA Debt Relief and SBA Express Bridge Loans.
The Wisconsin Women's Business Initiative Corporation (WWBIC)
WWBIC has announced a COVID-19 Fast Track Loan Program that is focused on existing businesses looking for business financing during COVID-19. Business owners have two options to pick from depending on their needs: a line of credit or a term loan. Funds may be used stand-alone or in participation with other loan funds.
Wisconsin Economic Development Center (WEDC)
WEDC has announced the Small Business 20/20 Program to support small businesses and micro-enterprises adversely economically impacted by the COVID-19 Virus. This program proovides funds to Wisconsin-based Community Development Financial Institutions (CDFIs) to make grants to existing loan clients to mitigate short-term cash flow issues and protect jobs and public health in response to the COVID-19 outbreak.
There are new KIVA loan terms to aid small businesses. Wisconsin Main Street matches 50% of private and public phase of fundraising for women-, minority- and veteran-owned businesses in participating program downtown districts. See the illustration below or visit their website for more information.
Farmers and Ranchers
Producers can continue to apply for farm loans and get their current loans serviced. Farm loans are critical for annual operating and family living expenses, emergency needs, and cash flow in challenging times like now.
USDA's Farm Service Agency is relaxing the loan-making process and adding flexibilites for servicing direct and guaranteed loans to provide credit to producers in need.
Facebook Small Business Grants Program
Facebok is offering $100 million in grants to support over 30,000 small business in over 30 countries, Facebook will be accepting application in the coming weeks. For more information click here.
AARP Foundation Programs
AARP Foundation is currently accepting applications for two grant programs to benefit older adults; please see the links below.
Education, Outreach and Fieldbuilding
Direct Service, Evidence Based Projects
The CARES Act provides funding for small business owners to potentially receive unemployment support. The details are not yet available, please check back for updates. The Wisconsin Department of Workforce Development website will also have the most up-to-date information.
SWCAP is monitoring COVID-19 ery closely and taking actions to mitigate health risks to their employees, volunteers, clients and the community. Please visit their webpage here to learn more about their programs and how they may have changed.
SCORE is committed to helping businesses through the unprecedented challenges from the coronavirus outbreak.They are offering Remote Mentoring, Live Webinars and Online Workshops. Please visit their webpage here for more information.