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March 23, 2020

SPECIAL NEWSLETTER UPDATE
Info and Resources: Coronavirus & Your Business 

Note: The Southwest Wisconsin Small Business Development Center (SBDC) shared the following information and resources earlier today. We are also sharing it, and ask you forward to clients, colleagues or anyone you feel may benefit from this information.


SBDC Business Consultant Kristi Smith offers free, confidential assistance to all Green County businesses. To contact her, call 
608-287-9464 or email kristi.smith@business.wisconsin.edu. To schedule an appointment with her, 
1. Register online for SBDC services and put "Kristi Smith" in the consultant requested field: SBDC Consulting Request.
2. Schedule a time on Smith's calendar.


Understand Your Cash Flow Needs
  • What bills do you have? When are they due? How much money do you need to manage payments? Answer these by building and using a Cash Flow Worksheet. (Download Excel worksheet here)
  • Analyze spending and delay or cancel unnecessary purchases.
  • If you have perishable inventory, consider a sale or donation.
If You Need Funds
  • Call creditors and ask for payment relief—be prepared with the above cashflow worksheet to discuss what you need (interest only, deferred payments, etc.)
  • Ask your banker for a line of credit.
  • Facebook has announced it will offer small business cash grants and ad credits. Sign up to get details when they are available.
  • The Federal Government declared a disaster for Wisconsin, making federal Small Business Administration (SBA) Disaster Loans available. Apply online at disasterloan.sba.gov.. We are trained to assist you in completing this application.
  • You may have heard that Wisconsin Economic Development Corp (WEDC) has a 2020 grant program for small businesses.This grant program is only available to businesses who currently have a loan from a Community Development Financial Institution (CDFI). A list of CDFI lenders is available. If you have an outstanding loan from a CDFI, please reach out to your lender regarding your eligibility and application.
  • Like you, we heard this morning about a Federal Main Street Business Lending Program. We don't have any details yet, but will share them as soon as we can.
If You Have Employees
  • Maintain communication—make sure everyone on your team knows how to contact you.
  • Adjust the work schedule—if your sales are down you may need to cut hours and/or furlough staff members. If you do, provide information about unemployment benefits and application process to help ease the pain. Information is available on the Wisconsin Department of Workforce Development website.

Customer Communication
  • If you change your business hours—post on social media, send e-mails, post signage and take a moment to call key customers. Make it clear that you intend to reopen as soon as the crisis has passed.
  • If you experience supply shortages—communicate expected arrivals, offer alternatives.
Consultant Assistance Available

Small Business Consultant Kristi Smith is available (by phone) to provide free assistance completing loan applications. For assistance:
1. Register online for SBDC services and put "Kristi Smith" in the consultant requested field: SBDC Consulting Request.
2. Schedule a time on Smith's calendar.
Other Resources

Includes disinfection guidelines
 
Includes unemployment, workers compensation, and training information
Includes state and federal guidance, business and cleaning information
Monroe Clinic is offering free virtual evalulation if you think you may have COVID-19

These and other resources are available on our website, greencounty.edc. More information will be added as it becomes available.

 Stay Healthy

To help slow the spread of COVID-19 disease, the Green County Health Department recommends:
  • Advise your co-workers to stay home if they're sick
  • Remain diligent in keeping social distance (6 feet)
  • Wash your hands frequently
  • Practice good respiratory etiquette
  • Limit non-essential outings
Symptoms of COVID-19 include fever, cough and shortness of breath. 

Symptoms may appear 2-14 days after exposure.

Seek medical attention if you develop symptoms and have been in close contact with someone known to have COVID-19 or live in an area or recently have been in an area with ongoing spread of COVID-19.

Source: CDC

Green County Development is a 501c3 non-profit organization building the economic future of Green County Wisconsin's communities and businesses through public-private partnerships.
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