Sparta Area Chamber of Commerce Newsletter April 2020 | Page 4

4 - The Sparta Ambassador - April 2020 COVID-19 Resources U.S. Small Business Administration (SBA). The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses in your state that are suffering substantial economic loss as a result of the Coronavirus (COVID-19). The the press releases linked below will outline the details on the governor certification that makes SBA assistance available for the entire state. Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship. Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at [phone] or email [email protected] for more information on SBA disaster assis- tance. Individuals who are deaf or hard of hearing may call [phone]. For complete details on SBA, visit www.sba.gov. SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the applica- tion process at 1-800-659-2955. SBA Press Release https://www.bikesparta.us/wp-content/uploads/Wisconsin-16363-Press-Release.pdf SBA Press Release – Spanish Translation https://www.bikesparta.us/wp-content/uploads/Spanish-Wisconsin-16363-Press-Release.pdf EIDL Fact Sheet https://www.bikesparta.us/wp-content/uploads/WI_16363-EIDL-Fact-Sheet.pdf EIDL Fact Sheet – Spanish Translation https://www.bikesparta.us/wp-content/uploads/WI_-SP-16363-EIDL-Fact-Sheet.pdf Resources provided by the Wisconsin Department of Agriculture, Trade and Consumer Protection This is intended to serve as a resource for agricultural organizations as they prepare for potential impacts of COVID-19 on their business operations. The State of Wisconsin, including the Department of Agriculture, Trade and Consumer Protection (DATCP), continues to monitor the spread of COVID-19 (2019 novel coronavirus) in coordination with the Department of Health Services (DHS) Public Health and other local, state, and federal partners. DATCP’s Emergency Response Group is also working to update the department’s plan to ensure continuity of essential operations. DATCP COVID-19 Toolkit https://www.bikesparta.us/wp-content/uploads/DATCP-COVID-19-Toolkit.pdf Federal “CARES” Act Summary~ Creates a Small Business “Paycheck Protection Program” This new $349 billion lending program would be modeled after the Small Business Administration (SBA) existing 7(a) loan program, but would have a 100% federal government loan guarantee (as opposed to 75% currently). Click the link for more information. WMC_COVID19_Fed-Cares-Act-Summary.pdf - https://www.bikesparta.us/wp-content/uploads/WMC_COVID19_Fed-Cares-Act-Summary.pdf Wisconsin Department of Health Services. https://www.dhs.wisconsin.gov/covid-19/index.htm Wisconsin Economic Development Corporation https://wedc.org/programs-and-resources/covid-19-response/ Monroe County Health Department h ttp://healthymonroecowi.org/covid-19/ Coronavirus (COVID-19): Small Business Guidance & Loan Resources – https://bit.ly/2UKpdRm For more information and recent updates visit https://www.bikesparta.us/resources/