COVID-19 Emergency: How the Small Business Development Center Can Help Your Business
Posted by Becca Coleman on April 10th, 2020
A message from the Director of the local SBDC – another resource for local businesses to navigate resources during the COVID-19 Emergency.
The Wisconsin Small Business Development Center at UW Eau Claire (SBDC) is providing assistance to Eau Claire County small businesses in completing the loan application for the SBA Economic Injury Disaster Loan (EIDL) program. In addition the SBDC is available to help answer questions on the Paycheck Protection Program Loans (PPP) which are loans that you would seek from a bank. Also we can answer questions on the programs for the self employed and independent contractors. You do not need to be a client of the SBDC to get assistance. If you want assistance from the SBDC please go to this link and complete the quick contact info and we will get back to you. https://wisconsinsbdc.org/services/covid-19/disasterloans/disaster-loan-inquiry/
SBA Economic Injury Disaster Loan (EIDL)
The EIDL loan is a direct loan from the SBA and is a low interest loan designed to help replace lost income from Covid 19 to help cover expenses. The program includes a grant that ranges from $1,000 up to $10,000. Here is a link to the SBA EIDL loan application. https://wisconsinsbdc.org/services/covid-19/
Paycheck Protection Program (PPP)
The PPP loan program is designed to help businesses maintain and pay their employees. You apply for this loan at your bank. The application process started last Friday for business es with employees. Applications are suppose to start Friday, April 10 for self employed and independent contractors without employees. If you have questions about PPP you are welcome to contact us and we will do our best to help answer your questions. More information can be found at https://wisconsinsbdc.org/services/covid-19/
Unemployment Compensation for Self Employed
The CARES Act provides up to $600 in weekly federal unemployment compensation benefits to self employed on top of any amount the state provides. Wisconsin DWD is currently working through setting up the application and process. When they are ready we will let you know. More information can be found at https://wisconsinsbdc.org/services/covid-19/
Get On Our Covid 19 Email List
The SBDC is doing almost daily updates via email to our clients regarding the SBA’s disaster loans and other efforts. If you would like to receive these updates please email me at SBDC@uwec.edu and we will add you to our email list.
Luke Kempen, CPA
Wisconsin Small Business Development Center at UW-Eau Claire
7 South Dewey Street, PO Box 4004
Eau Claire, WI 54702-4004
Working to support your success!