Federal disaster loan funds may be available to Wisconsin businesses that suffered losses due to the unusually dry and mild winter in Wisconsin.
Gov. Tony Evers and Senator Tammy Baldwin have been advocating for the U.S. Small Business Administration to confirm this disaster coverage extends to businesses impacted by Wisconsin’s extraordinary winter conditions. Following those conversations, SBA confirmed it will consider business loss from recent low snowfalls over the winter months to be related to the drought and eligible for assistance. The lack of snow has impacted travel and recreation businesses that depend on it for activities such as downhill and cross-country skiing, snowshoeing, and snowmobiling.
“The lack of snow we’ve experienced so far this winter has had serious economic impacts on folks and businesses, especially in our northern counties, who rely on snow and winter weather to attract customers and be successful,” said Evers. “I encourage all eligible businesses to apply for these loans as soon as possible, and in the meantime, I encourage Wisconsinites to plan a trip, visit local businesses, and find other exciting ways to enjoy winter in Wisconsin in our beautiful northern and central communities.”
Many counties in the state are already covered by a pre-existing disaster designation for drought from the U.S. Department of Agriculture. This designation allows businesses in counties identified as drought disaster areas to be eligible for emergency loans to offset their business losses in those counties if their business loss is related to the drought.
The National Weather Service reports that snowfall statewide has been 20 to 30 inches below normal this winter. In the Lake Superior snowbelt, generally across Ashland, Iron, and Vilas counties, snowfall was 40 to 70 inches below normal.
Impacted businesses in counties with a drought declaration can apply for the U.S. SBA Economic Impact Disaster Loans. The loans are designed to help businesses get through emergency situations that have impacted their economic well-being. Under the EIDL program, businesses can borrow up to $2 million to cover their actual losses. Businesses pay no interest on the loan for the first year and a maximum rate of four percent for the rest of the loan period. In order to take advantage of the program, businesses must apply by the application deadline for the county, listed below.
Businesses may submit applications and find additional disaster assistance information at https://lending.sba.gov. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX, 76155. Applicants may also contact the Wisconsin Economic Development Corporation with their EIDL-related questions at EIDLInquiries@wedc.org
Wisconsin counties may be covered by multiple declarations. The list below provides the latest available application deadline for covered counties.
Apply by April 15
- Sheboygan
Apply by May 6
- Brown
- Calumet
- Outagamie
- Waupaca
- Winnebago
Apply by May 13
- Menominee
- Oconto
- Shawano
Apply by July 3
- Florence
- Marinette
Apply by July 31
- Fond du Lac
- Green Lake
- Marquette
