Thanks to a concerted effort by the State of Wisconsin and the U.S. Small Business Administration, Wisconsin small businesses and private non-profits are now eligible for SBA’s Economic Injury Disaster Loans to meet the needs of payroll, accounts payable, and fixed debt payments during the COVID-19 pandemic. The loans are available for up to $2 million, with interest rates at 3.75% for small businesses and 2.75% for non-profits.
Resources for further information:
- Frequently asked questions
- Documentation requirements
- SBA website – https://disasterloan.sba.gov/ela/Information/EIDLLoans
- WEDA website – http://www.weda.org/covid-19-information-and-resources/
The WI Small Business Administration office is offering daily webinars to answer questions of the business community. Click here for more information.