As COVID-19 continues to evolve, more and more resources are becoming available to provide relief to businesses that are adversely impacted. The Wisconsin Economic Development Corporation is offering the Small Business 20/20 program to support Wisconsin businesses. Full details of the program are below.              

To keep you informed on the latest programs available, we have compiled relief resources for businesses on our website. We will continue to add links to resources as more programs are announced. Please visit this page often to check for updates.

Thank you for trusting us to assist your business during these ever changing times. We truly care about you and your families and value our relationship. Although COVID-19 has created some uncertainties, you can count on us to be there for you and your business.
 
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Small Business 20/20 Program

Relief for Businesses Impacted by COVID-19
The Small Business 20/20 Program was created to help mitigate the impact of the COVID-19 pandemic on small businesses and micro-enterprises in Wisconsin. The program is designed to ease these businesses’ short-term cash flow challenges and, in conjunction with other state response programs, protect jobs and public health in Wisconsin.
 
How it works
To help small businesses maintain cash flow in the face of unprecedented business disruption brought on by COVID-19, the Wisconsin Economic Development Corporation (WEDC) is leveraging the strong relationships the state’s community development financial institutions (CDFIs) have with their clients to quickly deploy $5 million in emergency capital.
 
Eligibility Requirements
Eligible applicants for Small Business 20/20 funds are Wisconsin CDFIs with a minimum organizational loan portfolio of at least $4 million, or a collaborative of CDFIs with a combined organizational loan portfolio of at least $4 million.
 
Approved CDFIs and collaboratives will make program grants available to for-profit businesses that are current loan recipients in good standing as of 3/1/20 with the approved CDFI and/or its collaborating CDFIs. These businesses must have 20 or fewer full-time or part-time employees and greater than $0 but less than $2 million in annual revenues. Preference will be given to service and retail businesses.
 
Businesses may be granted two months of payroll and rent expenses, up to a maximum of $20,000. Funds must be used for rent and payroll expenses, including covering paid leave (sick, family and other leave related to COVID-19) during the duration of the funding period.
 
Accessing Small Business 20/20 Funds
For more information about the Small Business 20/20 Program, visit
 
Small business owners are encouraged to work with their lenders to address financial challenges posted by COVID-19.

Still have questions?

Contact us with additional questions: Email | 877-672-2265