Business and Employee Information
Business and Employee Support
Wondering whether your business is considered essential or non-essential? Visit the Wisconsin Economic Development Corporation (WEDC) website and see if your business qualifies as by clicking here.
For all of Marathon County, MCDEVCO is available to assist in any way they can. If you have a loan through MCDEVCO, you can call and speak with them to discuss your repayment options at 715-298-0084.
The US President has allocated $50 billion dollars to the U.S. Small Business Administration (SBA) for a Federal Small Business Disaster Loan Program for those affected by COVID-19. This loan fund is designed to assist small businesses with their working capital losses. The program is set up as a 30-year loan with the initial year of no payments and an interest rate of 3.75%. You should be able to apply within the next couple of days and can keep up to date on the SBA website.
WEDC (WI Economic Development Corporation) has just announced a $5 million dollar grant program to assist the smallest of the small businesses around the state, which will be known as Small Business 20/20 (SB20/20). SB20/20 will provide grants of up to $20,000 to targeted businesses with no more than 20 employees to cover rent and to meet payroll expenses, including paid leave (sick, family, and other leave related to COVID-19). Small businesses, especially retailers, restaurants and small service providers, typically operate on the narrowest of margins. WEDC is hoping to work with community development financial institutions in the coming weeks for this program.
The Coronavirus Emergency Relief Package was signed into law on Wednesday March 18th. This legislation gives many American workers paid leave if they must take time off related to the Coronavirus, barring they have been employed for over 30 days. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for Coronavirus, or if they are caring for sick family members. It also gives 12 weeks of paid leave to people caring for children whose schools are closed or whose childcare provider is unavailable because of Coronavirus. Businesses with less then 500 employees qualify for aid, even those part-time and self-employed. This will continue to update as progress is made.
The Governor is anticipated to remove the one week waiting period for unemployment. Employees out of work due to the Coronavirus can file for unemployment. The Governor is also expected to place an executive order to speed up employment rates for those effected by the Coronavirus. Encourage all employees impacted by this and are now out of work to apply.
The Facebook Small Business Grants Program is awarding over $100 million dollars to up to 30,000 small businesses in over 30 different countries. This grant will help with paying workforce, rent bills, marketing, and operational costs. More information can be found here.