For all of Marathon County know that MCDEVCO is available to assist in any way we can. Know that there is a coordinated response between MCDEVCO, Marathon County, the Municipalities, and the Wausau Region Chamber to provide unified information and services where appropriate.
For our Loan Clients – know that MCDEVCO is here to assist you. Please call 715.298.0084 and have a conversation with us so we can inform you about our emergency protocol.
Small Business – The President has allocated 50 billion dollars to the U.S. Small Business Administration (SBA) for a Federal Small Business Disaster Loan Program for those affected by Coronavirus (COVID-19). This loan fund is designed to assist small businesses with their working capital losses. The program is set up as a 30-year loan with the initial year of no payments and an interest rate of 3.75%.
The state of Wisconsin has just submitted their paperwork and you should be able to apply within 24 to 48 hours. In the meantime, you can go to their website to create an account and review the guidelines. Once Wisconsin is up and running you will be notified that you can complete your online application.
Here is your SBA Link: https://www.sba.gov/
WEDC (WI Economic Development Corporation) has just announced a 5 million dollar grant program to assist the smallest of the small businesses around the state. The WEDC Board of Directors approved $5 million in funding for the program, which will be known as Small Business 20/20 (SB20/20). SB20/20 will provide grants of up to $20,000 to targeted businesses with no more than 20 employees to cover rent and to meet payroll expenses, including paid leave (sick, family, and other leave related to COVID-19).
As grants will have to be processed through community development financial institution (CDFI), MCDEVCO will be applying for a CDFI status for Marathon County. We will keep you updated as to our application process.
Other community resources for obtaining reliable current information on the COVID 19 are:
State of Wisconsin – https://www.dhs.wisconsin.gov/outbreaks/index.htm
CDC – https://www.cdc.gov/coronavirus/2019-nCoV/index.html
Marathon County Health Department – https://www.co.marathon.wi.us/Departments/HealthDepartment.aspx
and you can find the health department on Facebook –
Please contact MCDEVCO with any questions or concerns at 715.298.0084 or email vresech@mcdevco.org for more information.
Remember – wash your hands, do not touch your face, and 6 feet!
SBA Economic Injury Disaster Loan Program Guidelines March 23 2020
SBA Disaster Loan Program Forms as of March 24, 2020
SBA – Paycheck Protection Program Loan – the Cares Act
SBA – Paycheck Protection Application Form
