BUSINESS FINANCIAL ASSISTANCE PROGRAMS

EDA CARES Act Recovery Assistance Revolving Loan Fund  (RLF)

The Economic Development Administration (EDA) has awarded $500,000 to the West Central Wisconsin Regional Planning Commission (WCWRPC) to establish the EDA CARES Act Recovery Assistance Revolving Loan Fund (RLF) program. Up to $10,000 in low-interest working capital loan financing is available to businesses within west central Wisconsin. For more information, visit www.rbfinc.org/cares-act-rlf

City of Eau Claire EDA CARES Act Revolving Loan Fund

The City of Eau Claire was awarded funds through the EDA to establish a CARES Act Recovery Assistance Revolving Loan Fund. The program is only available to businesses located within the Eau Claire city limits. The RLF will provide 0% interest loans to businesses that were operating successfully prior to the COVID-19 outbreak. For more information, visit https://www.eauclairedevelopment.com/

 

We're All In Small Business Grant Program - Phase 2

The We're All In Small Business Grant Phase 2 program is designed to help small businesses get back on their feet as they re-emerge from the COVID-19 pandemic, while also encouraging adoption of best practices to keep employees, customers, and communities safe. Funded by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, the We're All In Small Business Grant Phase 2 program will provide grants to Wisconsin small businesses to assist with the costs of business interruption or for health and safety improvements, wages and salaries, rent, mortgages, and inventory. See program webpage for additional details.  Applications will be accepted from 8 a.m., Monday, Oct. 19, 2020 to 11:59 p.m., Monday, November 2, 2020.

https://www.revenue.wi.gov/Pages/FAQS/SmallBusinessGrantProgram.aspx#passive4

We're All Innovating Contest -- GRANT OPPORTUNITY

The goal of the “We’re All Innovating Contest” grant program is to support small and startup businesses to develop innovative responses to the COVID-19 pandemic.

 

The program is designed to provide financial support to innovative startup and established small businesses in Wisconsin through a competitive process judged by a review committee of business and industry experts administered in partnership with the Wisconsin Technology Council. Contest winners will receive grants from WEDC through federal CARES Act funding to support business model and technology innovations that respond to the COVID-19 pandemic crisis.

 

Approximately 195 companies can receive awards up to $68,000. For more information, visit https://wisconsininnovates.com/

COVID-19 Movie Theater Grant Program

Deadline October 28, 2:00 p.m.

https://doa.wi.gov/Pages/COVIDMovieTheaterGrant.aspx

 

COVID-19 Lodging Property Grant Program

Deadline October 28, 2:00 p.m.

https://doa.wi.gov/Pages/COVIDLodgingGrant.aspx

 

COVID-19 Live Music and Entertainment Venue Grant Program

Deadline October 28, 2:00 p.m.

https://doa.wi.gov/Pages/COVIDEntertainmentVenueGrant.aspx

​​Federal Reserve’s Main Street Lending Program

https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm

This program is established to support lending to small and medium-sized businesses (as defined under the program) that were in sound financial condition before the onset of the COVID-19 pandemic.  See the program webpage for specific details.  This program is anticipated to start at the end of May.

U.S. Chamber of Commerce Guide to the Main Street Lending Program


SBA Economic Injury Disaster Loan Assistance (EIDL)
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
The U.S. Small Business Administration (SBA) has approved Wisconsin for an initial grant of up to $10,000 and low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of COVID-19. Additional Funding Notice from SBA: With the additional funding provided by the Phase 3.5 Stimulus Bill, SBA will resume processing EIDL Loan and Advance applications that are already in the queue on a first come, first-served basis. SBA will begin accepting new EIDL and EIDL Advance applications on a limited basis to provide relief to U.S. agricultural businesses.  

 

SBA Debt Relief Program
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
Under this program the SBA will assist with principal and interest payments for SBA 7(a) loans issued prior to September 27, 2020.

 

SBA Express Bridge Loan Program
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans
This program allows small businesses who currently have a business relationship with an SBA Express Lender to access financing quickly.  These loans can provide economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bring the gap while applying for an SBA EIDL loan.

U.S. Department of Agriculture Business & Industry (B&I) CARES Act Program

 

https://www.rd.usda.gov/programs-services/business-and-industry-cares-act-program

USDA is making available up to $1 billion in loan guarantees to help rural businesses meet their working capital needs during the coronavirus pandemic. This program is available to rural businesses and agricultural producers that are not eligible for USDA Farm Service Agency loans. See program webpage for additional details.

NON-GOVERNMENTAL FINANCIAL ASSISTANCE RESOURCES

(Note: this list is not exhaustive of all potential non-governmental assistance programs.)

TECHNICAL ASSISTANCE

  • Facebook - Grey Circle
  • YouTube - Grey Circle