|
Economic Development Administration (EDA) CARES Act Funding Announced
The U.S. Economic Development Administration (EDA) recently announced funding opportunities for the $1.5 billion in supplemental funding they received from the CARES act. This funding is provided to help communities and regions respond to, and recover from, the impacts of the COVID-19 pandemic. As the designated Economic Development District (EDD) for west central Wisconsin, the West Central Wisconsin Regional Planning Commission (WCWRPC) is prepared to assist the region in submitting requests for some of these available dollars. See the EDA CARES Act Recovery Assistance Program flyer for details.
Please contact Lynn Nelson, WCWRPC Executive Director, at lnelson@wcwrpc.org or by phone at (715) 456-7291 with any questions or to discuss potential projects.
Wisconsin Granted Federal Disaster Declaration Due to COVID-19 Pandemic
https://content.govdelivery.com/accounts/WIGOV/bulletins/284ebcc
Economic Impact Survey
Business Economic Impact Survey
https://wedc.org/blog/businesses-invited-to-participate-in-new-round-of-covid-19-impact-survey/
WEDC, working with UW Oshkosh Center for Customized Research and other economic development organizations recently completed a Business Economic Impact Survey. Click the link above for survey information and research results.
Business Resources
Financial Assistance Programs (click here for PDF version)
Regional Business Fund, Inc. - EDA CARES Act Recovery Assistance Revolving Loan Fund
https://www.rbfinc.org/cares-act-rlf
The EDA Cares Act Recovery Assistance Revolving Loan Fund (RLF) is designed to assist small businesses (less than (10) full-time equivalent (FTE) employees) most impacted by the COVID-19 pandemic by assisting with long-term, fixed rate, low-interest working capital loans. See program website for eligibility requiremets.
City of Eau Claire EDA Cares Revolving Loan Fund
https://www.eauclairedevelopment.com/doing-business/financial-assistance/
This program is designed to provide benefits to businesses that were operating successfully prior to the COVID-19 outbreak. Any manufacturing, commercial, service, and creative economy businesses located within the Eau Claire city limits may apply for funding. See program webpage for details.
Federal Reserve's Main Street Lending Program (anticipated to start at the end of May)
https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm
This program is established to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. See the program webpage for specific details.
U.S. Chamber of Commerce: Guide to the Main Street Lending Program: (click here)
U.S. Department of Agriculture Business & Industry (B&I) CARES Act Program
https://www.rd.usda.gov/programs-services/business-and-industry-cares-act-program
USDA is making available up to $1 billion in loan guarantees to help rural businesses meet their working capital needs during the coronavirus pandemic. This program is available to rural businesses and agricultural producers that are not eligible for USDA Farm Service Agency loans. See program webpage for additional details.
SBA Payroll Protection Program (PPP)
https://www.sba.gov/article/2021/jan/08/sba-treasury-announce-ppp-re-opening-issue-new-guidance?utm_medium=email&utm_source=govdelivery
Paycheck Protection Program (PPP) will re-open the week of January 11, 2021 for new borrowers and some existing PPP borrowers. The initial wave of loans issued on Monday, January 11, and Wednesday, January 13, will only be available to community financial institutions, but the PPP will open up to all eligible lenders shortly after.
SBA Economic Injury Disaster Loan Assistance (EIDL)
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loans
In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses, and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19.
SBA Economic Injury Disaster Loan (EIDL) Application Walk Through:
https://www.youtube.com/watch?v=TiX_kaTs1xA&feature=youtu.be
SBA Debt Relief Program
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
Under this program the SBA will assist with principal and interest payments for SBA 7(a) loans issued prior to September 27, 2020.
SBA Express Bridge Loan Program
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans
This program allows small businesses who currently have a business relationship with an SBA Express Lender to access financing quickly. These loans can provide economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bring the gap while applying for an SBA EIDL loan.
Regional Business Fund, Inc. Micro Loan Fund
https://www.rbfinc.org/micro-loan-fund
The Micro Loan Fund Program provides small loans to startup or newly established small businesses two years of age or less who are unable to access traditional financing (bank or credit union).
Regional Business Fund, Inc. Growth Loan Fund
https://www.rbfinc.org/growth-loan-fund
The Growth Loan Fund is for established companies that have financing needs that cannot be met by traditional lending institutions. Eligible businesses have been operating for more than two years and have at least $100K in sales within the last 12 months.
Non-Governmental Financial Assistance Resources (Note: this list is not exhaustive of all potential non-governmental assistance programs.)
Technical Assistance
FastTrac Online Business Accelerator Course
https://ic.successfulbusiness.org/events.aspx
In response to the impact COVID-19 has had on the local economy, anyone interested in starting their own business, becoming self-employed or taking a new product to market can attend the Kauffman FastTrac free 10-week online course.
Tourism Grants
Shuttered Venue Operators Grant
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant
Community Resources
USDA Rural Development COVID-19 Resources for Rural Residents, Businesses and Communities
https://www.rd.usda.gov/sites/default/files/USDA_RDSA_COVID-19CUMULATIVEFactsheet_09_09_2020.pdf
"Routes to Recovery: Local Government Aid Grants" Program
(Click here for program link)
On Wednesday, May 27th, Governor Evers announced the Routes to Recovery Local Governments Aid Grants Progarm aimed at helping the state's local governments address some of their most urgent COVID-19 recovery needs. The program is funded with $200 million in federal dollars under the CARES ACT. See program page for funding allocations and program details.
USDA Distance Learning & Telemedicine Grant
https://www.rd.usda.gov/programs-services/distance-learning-telemedicine-grants
State Trust Fund Loan Program
https://bcpl.wisconsin.gov/Pages/LoanProgramHomePage.aspx
Alchemy Community Transformations - Funding Resources for Rural Communitieshttps://alchemycommunities.com/funding-resources/
USDA COVID-19 Federal Resource Guide
https://www.rd.usda.gov/sites/default/files/USDA_COVID-19_Fed_Rural_Resource_Guide.pdf
USDA Rural Development Fact Sheet
League of Wisconsin Municipalities - COVID-19 Resources
https://lwm-info.org/1575/COVID-19---Coronavirus-Resources
Wisconsin Towns Association Resources
https://www.wisctowns.com/resources/clerk-town-resources/
Data Resource - EMSI Job Posting Dashboard
https://www.economicmodeling.com/job-posting-dashboard/
FEMA Public Assistance Grant Program
Protective Measures Page
Coronavirus Pandemic: Public Assistance Simplified Application
Simplified Application.pdf
Coronavirus Pandemic: Eligible Emergency Protective Measures
Protective Measures Fact Sheet.pdf
Residential Assistance Programs
WHEDA
https://www.wheda.com/COVID-19-FAQ/
USDA Rural Development & Summary of Program Actions
https://www.rd.usda.gov/coronavirus
Summary of Program Actions PDF
Wisconsin Rental Assistance Program (W.R.A.P)
https://doa.wi.gov/Pages/LocalGovtsGrants/COVID-Grants.aspx
Utilizing funding from the CARES Act, the Department of Administration will partner with the Wisconsin Community Action Program Association to administer the Wisconsin Rental Assistance Program. The $25 million dollars of funding will be allocated to agencies across the state for residents to apply that meet income and need eligibility.
Resources for Farmers
U.S. Department of Agriculture Business & Industry (B&I) CARES Act Program
https://www.rd.usda.gov/programs-services/business-and-industry-cares-act-program
USDA is making available up to $1 billion in loan guarantees to help rural businesses meet their working capital needs during the coronavirus pandemic. This program is available to rural businesses and agricultural producers that are not eligible for USDA Farm Service Agency loans. See program webpage for additional details.
Wisconsin Farm Support Program
https://www.revenue.wi.gov/Pages/TaxPro/2020/FarmSupportProgram.aspx
This initiative is a $50 million investment to provide direct payments to Wisconsin farmers in support of the agricultural sector during the COVID-19 pandemic. It also includes a $15 million Food Security Initiative to combat hunger throughout the State. According to the program announcement, eligible farmers will be asked to apply for aid through the Wisconsin Department of Revenue and payments could begin arriving as early as June.
American Farmland Trust Farmer Relief Fund
https://farmland.org/farmer-relief-fund/
Wisconsin DATCP Resources
https://datcp.wi.gov/Pages/News_Media/Covid19.aspx
USDA Coronavirus Food Assistance Program
www.usda.gov
USDA Farm Service Agencies
www.usda.gov
UW Extension
https://farms.extension.wisc.edu/coronavirus/
National Sustainable Agriculture Coalition
https://sustainableagriculture.net/blog/closer-look-farmer-relief-senate-pandemic-package/
Farm AID
www.farmaid.org
Resources for Non-Profit Organizations
Wisconsin Tourism Relief to Accelerate Vitality & Economic Lift (TRAVEL) Stimulus Grant Program
http://industry.travelwisconsin.com/grants/travel-stimulus-grant-program
FEMA Public Assistance Programs
https://www.fema.gov/news-release/2020/04/02/coronavirus-covid19-pandemic-private-nonprofit-organizations
National Council of Non Profits
https://www.councilofnonprofits.org/nonprofits-and-coronavirus-covid-19
Area Specific Resources
Community Foundation of Chippewa County - Response Recovery Rebuild Fund
https://www.yourlegacyforever.org/funds/response-recovery-rebuild-fund.phtml
Eau Claire Community Foundation Quick Response Community Fund
https://eccfwi.org/funds/quick-response-community-fund/
Chippewa Valley Business Community COVID-19 Resource Facebook Group
https://www.facebook.com/groups/504041823806583/
Other Resources
Pandemic Unemployment Assistance Program
Self-employed business owners may qualify for unemployment through the Pandemic Unemployment Assistance (PUA) Program.
https://dwd.wisconsin.gov/uiben/pua/
USDA Agricultural & Food Research Initiative - Foundational & Applied Science Program
https://nifa.usda.gov/funding-opportunity/agriculture-and-food-research-initiative-foundational-applied-science-program
Additional Resources/Agencies
|