The Wisconsin Small Business Development Center created this page to anchor important information amid changing conditions and unprecedented measures put into place during the COVID-19 pandemic.
Staff across all of our centers are available to work with you via phone or virtual means.
We’re here to help.
SBA Economic Injury Disaster Loan Assistance
The U.S. Small Business Administration’s Economic Injury Disaster Loans (EIDL), created to provide working capital loans, stopped accepting applications for new loans or advances Jan. 1, 2022.
The deadline to request a loan increase or reconsideration was May 6, 2022.
The COVID-19 EIDL portal will close on May 16, 2022. Borrowers should download their loan documents from the portal prior to this date.
NOTE on payments: On March 15, 2022, additional deferment time was given by the SBA: All COVID-EIDL Loans approved in calendar years 2020, 2021 and 2022 have a total deferment of 30 months from the date of the note. Interest will continue to accrue. Borrowers may make partial or full payments during the deferment period but are not required to.
- SBA Express Bridge Loans allow small businesses that currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
- Through SBA Debt Relief, the SBA will automatically pay the principal, interest and fees of 7(a), 504, and microloans for a period of six months.
- The Paycheck Protection Program has ended, but loan forgiveness is covered on this page.
Paycheck Protection Program Loan Forgiveness
The Paycheck Protection Program, an SBA-backed loan that helped businesses keep their workforce employed during the COVID-19 crisis, ended May 31, 2021, providing nearly $800 billion in relief.
Existing borrowers may be eligible for PPP loan forgiveness.
Businesses can apply for forgiveness in a number of ways (Spanish and other language versions also available on the main PPP page). They can also apply directly through the SBA’s direct portal for loans $150,000 or less from participating lenders.
Federal guidance and resources to help your business respond to COVID-19. The agencies will be updating their pages regularly as regulations and processes change:
Wisconsin Resources for Businesses & Employers
- Workplace Safety
- Businesses, Employers and Workers overview
- Preventing and Managing COVID-19 Outbreaks in the Workplace (PDF)
- PPE & Testing
- Supporting Small Businesses
- Main Street Bounceback Program: Provides $10,000 grants to new or existing businesses moving into vacant properties in downtowns and commercial corridors. Deadline has been extended to Dec. 31, 2022.
- Main Street Marketplace: Connect to over 230 online small businesses across 34 Wisconsin Main Street communities, all in one marketplace.
Navigating the New Normal Guide
The ongoing uncertainty of this pandemic can be just plain overwhelming. But it doesn’t have to be, with the right attention to planning. This workbook, developed by the Wisconsin SBDC to incorporate months of learning from experts and clients, offers reflection questions, checklists and goal-setting prompts to help you move forward.
Wisconsin SBDC staff has curated and is updating a list of common questions we are fielding, with answers, to help address your most important questions.
Still have questions?
If you still have questions about your small business, let us know.