COVID-19 Identified Federal and State Funding Resources:

SBA Economic Injury Disaster Loan Assistance.

Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses.

https://www.sba.gov/disaster-assistance/coronavirus-covid-19

The Wisconsin Small Business Development (SBDC) Network and its partners are helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic. The Wisconsin SBDC, a resource partner of the SBA, has created a web page to help business owners understand the qualifications and application process.

https://wisconsinsbdc.org/services/covid-19/

WEDC Small Business 20/20 Program

The Small Business 20/20 Program provides grant funds to approved community development financial institutions (CDFIs). Approved CDFIs will award grants of up to $20,000 to their existing loan clients to assist with cash-flow challenges resulting from COVID-19. Businesses that are not currently CDFI clients are not eligible to access these funds, but WEDC will work to expand access to funding through other programs as more resources become available. If you have more questions, view this FAQ page on SB20/20.

https://wedc.org/wp-content/uploads/2020/03/Small-Business-2020.pdf

https://wedc.org/wp-content/uploads/2020/03/SB-2020-FY20-Final.pdf


COVID-19 Other Private and Non-for-Profit Funding Resources:

Other Private and Non-for-profits also provided a variety of additional training and fiscal resources; some of these items include:

Gener8tor - Wisconsin Emergency Response Program.

Gener8tor is hosting emergency one-week virtual programs for small businesses affected by the COVID-19 outbreak. These programs will feature daily webinars designed to identify, understand and help small businesses secure resources to withstand the current crisis. One-on-one office hours will also be available.

https://www.gener8tor.com/

Hmong Wisconsin Chamber of Commerce Emergency Loan Fund

The Hmong Wisconsin Chamber of Commerce (HWCC) has announced a new Emergency Loan Fund (COVID-19) in response to the negative impact that Coronavirus (COVID-19) has had on the Wisconsin business community. These funds are primarily used for working capital to cover rent, payroll, and other fixed expenses. This loan fund is similar to HWCC’s existing Revolving Loan Fund (RLF) Small Loan programs but with a slightly lower rate and an interest-only option for the first 3 months. Loans from $5,000 and up to $10,000. For more information about terms and interest rates, please contact HWCC Operations Manager, Ger Thao: ger@hmongchamber.org.

https://www.hmongchamber.org/emergency-loan-fund-covid-19

Kiva Loans

Kiva has expanded small business lending on its online platform to include a larger list of eligible businesses, the possibility for larger loans, and a grace period for repayment.

https://www.kiva.org/blog/faqs-kivas-response-to-covid-19

 

Facebook for Business

Facebook is offering $100M in cash grants and ad credits through its Small Business Grants Program.

https://www.facebook.com/business/grants?content_id=KKf6RWdyo87L7QO

 

Kabbage

Kabbage launched an online hub to help boost sales for U.S small businesses impacted by COVID-19, including a system through which businesses can sell gift cards to consumers for use at a later date.

https://www.kabbage.com/covid-19/

 

The James Beard Foundation

The James Beard Foundation is launching a fund that will be gathering support from the corporate, foundation, and individual donors to provide micro-grants to independent food and beverage businesses in need.

https://www.jamesbeard.org/relief

 

MainVest

MainVest, a crowdfunding platform, announced its new Main Street Initiative: a $2,000, zero-interest, 120-day loan for restaurants or other brick and mortars affected by the shutdown.

https://mainvest.com/blog/keep-calm-and-capitalize

 

Opportunity Fund

Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest rate loans.

https://www.theopportunityfund.org/category/opportunity-fund/