Coronavirus (COVID-19) Information for Businesses and Non-Profits
January 2021 - PPP Announcement
NEXT ROUND OF PAYCHECK PROTECTION PROGRAM (PPP) FUNDING AVAILABLE
The Federal government has launched another round of the Paycheck Protection Program (PPP). Many small businesses and non-profits are eligible to receive this support, in many cases in the form of forgivable loans. Funding is available to both businesses that already received funding in 2020, as well as new applicants. Over 3,500 City of Madison businesses received PPP through the first round of the program in 2020 and we are hopeful that we will once again have great participation in 2021. More information about PPP is available at www.sba.gov/ppp.
Although a government program, PPP is managed by private banks, credit unions, and non-profit lenders. Businesses interested in applying should start by contacting a bank or credit union that they already work with. If a business owner doesn’t have an existing relationship with a bank or credit union, they can still apply through many participating banks and credit unions in the community as a non-customer applicant. The SBA is available to help connect businesses to banks and credit unions through the following link: https://www.sba.gov/funding-programs/loans/lender-match. The Small Business Development Center at UW-Madison is another great resource for assistance. They can be reached at 608-263-2221 or through https://sbdc.wisc.edu.
Public Health Madison & Dane County
- Best Practices for Businesses during COVID-19
Safety and best practice information for businesses operating during COVID-19.
- Food Establishments
Information for food establishment owners and operators.
- Other Establishments
Information for owners and operators of pools, lodging, and other establishments.
- Farmers Markets
Information for farmers market operators and vendors.
- Best practices and guidance for food establishments, Public Health Madison & Dane County
- Resources for restaurants, Wisconsin Restaurant Association
- Tips for food service operators, Wisconsin Restaurant Association
- Resource Guide for Wisconsin Food Cart and Truck Vendors, UW-Extension
- Child Care Guidance, WI Department of Children and Families
NEW! Cold Weather Streatery Guidelines
- Cold Weather Guidelines for Sidewalk Cafes & Cafes in the Parking Lane
- Cold Weather Guidelines for Private Property
The City of Madison has extended its Streatery Program to April 14, 2022. This will provide both an opportunity and a challenge for Restaurants and Taverns to be able to continue to serve patrons in a physically distanced arrangement in accordance with Public Heath Madison Dane County (PHMDC) orders. The City wants to encourage the extension of the outdoor dining season as much as is practical. However, it is important to note that meeting all heating, tent and electric code requirements during the coldest winter months, and during heavy snowfall may be infeasible.
LINKS to Guidance Documents:
The City of Madison has created the following Streatery program under an Emergency Order to temporarily allow restaurants to expand their business footprint onto the public rights-of-way or in privately owned parking facilities if administratively approved by staff. For eligible restaurants, this may also include expanded alcohol license premise.
- Greater Madison Chamber of Commerce
The Greater Madison Chamber of Commerce is compiling answers to common questions for businesses during COVID-19. To submit questions and read responses, visit madisonbiz.com/covid19faq.
- Small Business Administration (SBA)
The SBA has support for businesses that will experience trade issues, manufacturing overseas issues, federal government contract issues and more.
- Wisconsin Manufacturers & Commerce (WMC) Employer Toolkit
This online toolkit provides information and resources for businesses during COVID-19.
- Wisconsin Women’s Business Initiative Cooperation (WWBIC)
The WWBIC provides business assistance and loans for businesses in Wisconsin.
- Wisconsin Economic Development Corporation (WEDC)
WEDC is coordinating with community partners to get grant funding out for small businesses.
- Federal Emergency Management Agency (FEMA)
FEMA has information for businesses during a crisis and a template of a Business Continuity Plan to help business owners think through their needs.
- Wisconsin Small Business Development Center (SBDC)
The SBDC supports small businesses with classes and counseling. You can call the Business Hotline 1-800-940-7232 or complete an online request to get the help you need.
- Department of Workforce Development
The Department of Workforce Development set up an information page regarding COVID-19 related layoffs and Unemployment Benefits.
University of Wisconsin-Extension has set up a financial resources page regarding hardship due to COVID-19.
- City of Madison Office of Business Resources (OBR)
OBR has information and resources to support small businesses in the City of Madison. Contact us at 608-267-8721 or email us at email@example.com for information.
Grants & Loans
Before applying for loans, ask yourself:
- What will I need financially to get through the COVID-19 pandemic?
- What will I need to get up and running?
- Could I afford a loan payment prior to COVID-19? Can I afford one during or after?
Check with your financial institutions to see what they offer. New programs are being developed for COVID-19, so keep up to date on recent additions with the Greater Madison Chamber of Commerce.
The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Applications are open until the fund runs out.
SBA is committed to conducting targeted outreach to specific sectors of the entrepreneurial community. Funding is available for organizations that provide a unique collaborative approach to delivering long-term economic small business recovery and resiliency. Under the Community Navigator Pilot Program, SBA is soliciting applications for three separate competitions:
Tier 1 - $5.0M
Tier 2 - $2.5M
Tier 3 - $1.0M
Applications are now open and closes July 12th
Dane Buy Local will administer Round 3 of the grants. Business owners will be able to fill out an application form beginning now from this website (www.danebuylocal.com). Applications will be accepted until funds run out. Grants will be issued between $1000 and $50,000.
The Wisconsin Tomorrow Small Business Recovery Grant program will award $420 million to small businesses impacted by the COVID-19 pandemic. The program is intended to support businesses who are hardest hit by the pandemic and are key to Wisconsin making a strong recovery. The program is administered by the Wisconsin Department of Revenue (DOR) in collaboration with the Wisconsin Economic Development Corporation (WEDC) and is funded with money received from the federal government through the American Rescue Plan Act.
This grant awards up to $5,000. The application for this grant is now open and will close at 4:30 PM CT on Monday, June 7th.
KIVA offers 0% interest and no fee loans of up to $15,000. They offer a grace period for the first payment of up to 6 months.
WWBIC loans offer two options: a line of credit or a term loan.
- Line of credit: Loan of $5,000 – $10,000 with a term of 12 months and an interest rate of 9.25%.
- Term loan: Loan of $5,000 – $15,000 with a term of 60 months. The client makes interest-only payments for the first 12 months. For the remaining 48 months, the loan is fully amortized.
The Doyenne Evergreen Fund supports businesses led by women and people of color. The fund focuses on Wisconsin-based businesses that are doing something innovate in their industry and are able to scale to a national level.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. Loans will be forgiven if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
This program is available for non-profits and businesses, including self?employed and independent contractors with less than 500 employees.
The maximum loan amount is up to $10 million but not more than 2.5 times average monthly payroll, generally measured over the 12 months prior.
Economic Injury Disaster Loans offer up to $2 million in assistance. The interest rate is 3.75% for small businesses.
This loan offers long-term repayments of up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
Note: The fund is not currently accepting applications.
The Restaurant Employee Relief Fund provides $500 grants to help restaurant industry employees who have been financially impacted by COVID-19. Funds will be disbursed on a first-come-first-served basis, subject to availability of funds.
Please call our Economic Development Staff at 608-267-4933 or e-mail us at firstname.lastname@example.org.