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May 1, 2020

SPECIAL NEWSLETTER UPDATE
Newsletter reprinted from
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Southwest Wisconsin
Serving: Crawford, Grant, Green, Iowa, Lafayette, and Richland Counties

Please visit the Wisconsin SBDC's dedicated Covid 19 site for all of the latest updates: https://wisconsinsbdc.org/services/covid-19/
Funding Updates
 
Have you received disaster funding?
Please let us know.
We want to share in your good news!
Also, it is helpful to us as we ask for continued financial support for our services.
 
to
share your good news!

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Please check your bank balances daily
The Economic Injury Disaster Loan Advances (EIDL Advance) are appearing in bank accounts without folks receiving communication. Amounts vary from $1,000 to $10,000, depending on the number of pre-disaster employees. Individual business owners who do not have employees have reported receiving $1,000. Additional funds were earmarked for this program last week. The Small Business Administration's website has this update:

SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.

If you are wondering about the status of your application and would like to contact someone, the SBA has an EIDL customer service line: 800-659-2955 or email disastercustomerservice@sba.gov.
The Paycheck Protection Program (PPP) also received additional funds last week.Applications that had been submitted prior to last week are being processed, and the program is open to additional applications. Please contact a participating bank to apply. There are some online companies that are also taking applications: Kabbage, Paypal, Quickbooks and others.

You may apply even if your business does not have employees. However, if you work from home and your net income from the business last year was lower than $37,500, you may see a larger benefit from the Unemployment Program than from the Paycheck Protection Program.

If you have received PPP funds already, the 8-week forgiveness period began the day the funds were received. Please note, if you also receive EIDL Advance funds, this amount impacts your total potential forgivable amount from the PPP. The Small Business Administration has an online frequently asked questions document that may provide some answers for you: https://www.sba.gov/document/support--faq-lenders-borrowers
Unemployment
Are you an employee of your business, or do you pay yourself through owner draws? Either way, you may be eligible for unemployment compensation.
The Department of Workforce Development has an online flowchart showing which program is right for your situation:
https://dwd.wisconsin.gov/dwd/publications/ui/pua-18786-p.pdf
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Updated Safer-At-Home & Ideas for Retailers
 
Wisconsin Governor Evers issued an updated Safer At Home Policy last week, allowing some non-essential businesses like retail stores to now offer curbside pickup of items. (Read the updated order here: https://evers.wi.gov/Documents/COVID19/EMO28-SaferAtHome.pdf)
If you have a retail business and would like to offer curbside pickup, here are some ideas:
  • Fill your store windows with items for sale - mark each item with a number, a price and, if applicable, a size. Hang a sign encouraging window shoppers to call or message you to purchase an item.
  • Consider installing an intercom system or doorbell, so customers can let you know they have arrived for pickups.
  • Post pictures of items online - on your website and on social media.
  • Consider offering to accept payments over the phone or online, and deliver items to customer doorsteps.
GCDC HAS BUSINESS RESOURCES ONLINE
Green County Development Corporation is continually compiling links to
websites with information specifically aimed at helping businesses
navigate COVID-19's impact.

Click here for those resources



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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