WI Apply for SBA Loans to Businesses “Economically Injured”

Small Business Disaster Loans

The US Small Business Administration (SBA) will be providing disaster assistance loans to businesses who suffer substantial economic injury due to the COVID-19 pandemic in the United States. In order for a state to qualify for loans, its Governor must submit an application directly to SBA documenting statewide examples of businesses negatively impacted by the outbreak. The Evers administration hoped to have its application completed and submitted to SBA by the end of yesterday. WEDC has gathered enough businesses to submit evidence of injury over the past couple of days to allow them to submit the application sooner than expected. This should mean that SBA will act on the Wisconsin application by the end of this week so that businesses may start applying for loans early next week at the latest.

Thank you Rep. Jill Billings for this information.