COVID-19 Small Business Resources
The City of Green Bay is actively seeking new ways to assist the business community during the challenging time.
To provide immediate relief to active recipients of the City’s small business Revolving Loan Fund (RLF) programs, loan repayments to the City may be suspended through June 16, 2020. Please contact WendyTo@greenbaywi.gov or call 920-448-3086 to request loan repayment suspension.
Green Bay businesses significantly impacted by COVID-19 should consider this list of available resources below. This list will be updated with new programs when they are made available.
The U.S. Small Business Administration (SBA) has approved Wisconsin’s request for small businesses affected by the COVID-19 pandemic to access low-interest federal disaster loans. Under the Economic Injury Disaster Loan (EIDL) program, businesses may qualify for up to $2 million in loans to cover losses resulting from the pandemic. The interest rate on the loans is 3.75% for for-profit businesses and 2.75% for nonprofits. Participants may be able to extend payments for up to 30 years.
Businesses will be asked to supply the following information as part of the application process:
- Tax Information Authorization (IRS Form 4506T) for the applicant, principals and affiliates.
- Complete copies of the most recent Federal Income Tax Return.
- Schedule of Liabilities (SBA Form 2202).
- Personal Financial Statement (SBA Form 413).
- Profit and loss statements
- Monthly sales figures (SBA Form 1368).
The Wisconsin Small Business Development (SBDC) Network and its partners are helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic. The Wisconsin SBDC, a resource partner of the SBA, has created a web page to help business owners understand the qualifications and application process. Consultants with the UW-Green Bay Small Business Development Center (SBDC) are working remotely via phone, email and virtual tools to assist clients. The Wisconsin SBA and its other SBA resource partners,— including WWBIC, SCORE, and Veterans Business Outreach Center — are also working to assist their clients.
If you have more questions, view this FAQ page on the EIDL program.
Work-share from the Dept. of Workforce Development
Work-Share is a program that helps businesses avoid layoffs, allowing workers to remain employed and employers to retain trained staff during times of reduced business activity.
Small Business 20/20 Program
The Wisconsin Economic Development Corporation’s (WEDC) Small Business 20/20 Program provides grant funds to approved community development financial institutions (CDFIs). Approved CDFIs will award grants of up to $20,000 to their existing loan clients to assist with cash-flow challenges resulting from COVID-19.
Businesses that are not currently CDFI clients are not eligible to access these funds, but WEDC will work to expand access to funding through other programs as more resources become available. If you have more questions, view this FAQ page on SB20/20.
Wisconsin Emergency Response Program
gener8tor is hosting emergency one-week virtual programs for small businesses affected by the COVID-19 outbreak. These programs will feature daily webinars designed to identify, understand and help small businesses secure resources to withstand the current crisis. One-on-one office hours will also be available.
Hmong Wisconsin Chamber of Commerce Emergency Loan Fund
The Hmong Wisconsin Chamber of Commerce (HWCC) has announced a new Emergency Loan Fund (COVID-19) in response to the negative impact that Coronavirus (COVID-19) has had on the Wisconsin business community. These funds are primarily used for working capital to cover rent, payroll, and other fixed expenses. This loan fund is similar to HWCC’s existing Revolving Loan Fund (RLF) Small Loan programs but with a slightly lower rate and an interest-only option for the first 3 months. Loans from $5,000 and up to $10,000. For more information about terms and interest rates, please contact HWCC Operations Manager, Ger Thao: email@example.com.
See how the Brownfield Redevelopment program is reclaiming contaminated property and how to submit site nominations.
The commercial facade improvement grant works to promote investment in the Targeted Impact Areas throughout the City of Green Bay by providing a financial incentive for businesses to invest in their property.
Read about the Demolition Grant Program, including who is eligible for the program.
Learn about the various economic development organizations partnering with the City of Green Bay.
The City of Green Bay offers the Economic Development Revolving Loan Fund (EDRLF) to assist minority-owned, women-owned, disabled-veteran owned, and small disadvantaged business with financial needs.
The City is willing to work with eligible manufacturing businesses to secure industrial revenue bonds.
The City of Green Bay has capitalized the Revolving Loan Fund (RLF) with money from the federal Community Development Block Grant (CDBG) program.
Check out information about the New Market Tax Credits program and the Federal Historic Preservation Tax Credits program.
The City has multiple active tax increment finance (TIF) districts and four operational Business Improvement Districts (BIDs).
Opportunity Zones are designed to spur economic development by proving tax benefits to investors. The City of Green Bay has 4 zones.
This program promotes vacant store fronts and office spaces for short term leasing opportunities.