The Wisconsin Economic Development Corp. (WEDC) is creating a $5 million program called Small Business 20/20. Businesses with no more than 20 employees can apply for grants up to $20,000 to pay for rent and payroll expenses. That includes sick, family and other leave related to the COVID-19 outbreak.
“We understand that this is just a start, and the WEDC is working to develop additional programming to help get resources out to the communities and increase eligibility for participation. We will be looking for additional solutions in the coming days as we learn more in this evolving situation,” said WEDC Secretary Missy Hughes in a statement.
The U.S. Small Business Administration (SBA) is also offering low-interest federal disaster loans for businesses dealing with losses during the pandemic. States that apply for SBA disaster aid will have access to the funding for businesses, but at this time Wisconsin has not declared a disaster. Gov. Tony Evers’ office has submitted a request to the SBA to help Wisconsin businesses.