The Small Business Owner’s Guide to the CARES Act
CLICK HERE to read about the Act passed by Congress to assist business owners in needs they have right now.
SBA Economic Injury Disaster Loans and Loan Advance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s 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 to help overcome the temporary loss of revenue they are experiencing.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid.
To apply for a COVID-19 Economic Injury Disaster Loan, click here.
SBA Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19. Small businesses in the hospitality and food industry with more than one location could also be eligible if their individual locations employ less than 500 workers.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.
To apply for the Paycheck Protection Program, click here.
WEDC Small Business 20/20 Grant Application
The goal of the Small Business 20/20 program is to support small businesses and micro-enterprises adversely economically impacted by COVID-19. Click here to learn more.
USBG National Charitable Foundation’s Bartender Emergency Assistance Program
Emergency funding for bar industry staff who need financial support to apply to this program. Membership is not required. Click here for more information and eligibility requirements.
Facebook Small Business Grants
Facebook is offering $100M in cash grants and ad credits. Click here to learn more.
Support Local: Shop & Dine Online
Other Options to Support our Shorewood Community
Shorewood Care Network is a group of residents who want to help their neighbors in times of difficulty. We currently have 120 volunteers ready to help. If you, or someone you know, needs a helping hand, or maybe some groceries or a meal delivered from your favorite Shorewood restaurant, please reach out at email@example.com or 414-367-8642.
Hunger Task Force
The Hunger Task Force is Milwaukee’s Free and Local Food Bank. It will remain open and in service to Seniors, low-income households, and children from Milwaukee County. Click here to get help -or- click here to donate!
Local, State, & Federal Alerts and Info
- State of Wisconsin Covid-19 Information
- Wisconsin Department of Health Services
- Governor Evers announces a 2nd package of Assistance : READ MORE HERE