Dear Winneconne Area Business Owners:
Thank you for your help combating coronavirus. I recognize the hardship that many of our business owners are experiencing as a result of state-mandated closures and related restrictions. Please know that the Village of Winneconne acknowledges the critical role that you play in our community and stands ready to help during these challenging times. With that in mind, I’d like to draw your attention to three programs that may prove helpful.
Potential Emergency Loans from the Village of Winneconne
I am evaluating the feasibility of the Village of Winneconne offering small loans to business owners to help them with qualified expenses – rent/mortgage, utilities, and potentially payroll – during the coronavirus crisis. I am working with the Village’s financial advisory firm to determine whether and how to establish such a program. If it turns out to be feasible and the Village Board approves, we might be able to offer emergency loans to small businesses. Repayment would begin after the Governor’s emergency order is lifted and likely would be offered on favorable terms, including a low interest rate. It would be very helpful for me to understand the scope and size of the program our community needs. If you own a business in Winneconne – and would be interested in such a program – please complete the survey at https://forms.gle/wjMj6RRNnFZCXAwA8 to help me better understand your needs.
Small Business Administration Economic Injury Disaster Loan Assistance Program (https://disasterloan.sba.gov/ela/)
The SBA accepted Governor Evers’ request that Wisconsin be included in this program. Business owners apply directly on the SBA website. To date, this is the most promising program I’ve encountered.
Small Business 20/20 Program (https://wedc.org/blog/wedc-announces-targeted-grants-to-small-businesses-suffering-losses-due-to-coronavirus-emergency/)
Seems like a useful program for those who qualify. Buried in the fine print is that this program is available only to businesses that already have an existing loan through one of the following 22 Community Development Financial Institutions:
- Brewery Credit Union
- Columbia Savings and Loan Association
- Community Assets for People
- CoVantage Credit Union
- First American Capital Corporation
- First Nations Community Financial
- Forward Community Investments, Inc.
- Habitat for Humanity of Dane County, Inc.
- Hmong Wisconsin Chamber of Commerce
- Impact Seven, Inc.
- Legacy Redevelopment Corporation
- Milwaukee Economic Development Corporation
- Mitchell Bank
- Mitchell Bank Holding Corporation
- NiiJii Capital Partners, Inc.
- Northwest Side Community Development Corporation
- Northwoods Community Credit Union
- Royal Credit Union
- Ways to Work
- WBD Advantage Fund, LLC
- Wisconsin Native Loan Fund, Inc.
- Wisconsin Women’s Business Initiative Corporation
If you are uncertain whether you qualify, please let me know. I’ll do my best to help you figure it out.
I hope these are helpful. Please feel free to call or email with questions or concerns.
Village Administrator - Village of Winneconne
Office: (920) 582-4381