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.

Please  CLICK HERE to access the application portal. 

The  Wisconsin Small Business Development Network (SBDC),a resource partner of the SBA, is available to help small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the COVID-19 pandemic. Please visit the Wisconsin SBDC  website designed to help business owners understand the qualifications and application process. Consultants across the network’s 13 locations are working remotely via phone, email and virtual tools to assist clients. 

If you have more questions, please view this  FAQ page on the EIDL program.

For more information on programs offered through WEDC please CLICK HERE.