Select Resources for Entrepreneurs and Small Businesses
Given the challenging and changing situation regarding COVID-19, the CDR TURBO Program is sharing information and resources relevant to food and beverage entrepreneurs and small businesses. There is a lot of information coming out and it can be hard to find the resources that are important for small business and entrepreneurs. The TURBO Program is working closely with partner organizations and will be posting resources and information on this page. Check back as this site will be updated with the latest resources.
NEW: SBA Webinars Cover Funding Options, Tax Relief (POSTED 7/8/20)
Webinars cover SBA lending, including coronavirus relief options. Presented by SBA’s Wisconsin office. Register now!
FUNDING OPTIONS WEBINARS
July 15, 10 am
July 22, 10 am
July 29, 10 am
TAX RELIEF WEBINARS
July 16, 2-3:30 pm
July 23, 2-3:30 pm
July 30, 2-3:30 pm
UPDATE: Paycheck Protection Program Reopens (POSTED 7/8/20)
The Paycheck Protection Program resumed accepting applications July 6, 2020, at 9:00 AM EDT in response to President signing the program’s extension legislation. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020. Learn more.
“SBA Rolls Out Dedicated Tool for Small Businesses to Connect with CDFIs, Small Asset Lenders Participating in PPP” (POSTED 6/26/20)
THE SBA launched a dedicated online tool for small businesses and non-profits to be matched with Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), Farm Credit System lenders, Microlenders, as well as traditional smaller asset size lenders in the Paycheck Protection Program (PPP). Learn More.
Ready to Apply for PPP Loan Forgiveness? (POSTED 6/26/20)
“If you’ve already received the SBA’s PPP loan to help your small business with paying your employees during COVID-19, or you just want to know more about how these loans will be processed for forgiveness on the back end, the SBA and Treasury have released new revised, more borrower-friendly PPP forms including:”
• Loan Forgiveness Calculations Form
• Loan Forgiveness Application Instructions for Borrowers
In addition to revising the full forgiveness application, SBA also published a new EZ version that applies to some borrowers.
• EZ Application for Loan Forgiveness
• Instructions for Borrowers using EZ Application
For more information on these forms, you can read the full news release.
SBA: Get Started with Paycheck Protection (POSTED 4/30/20)
“The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive PPP loans if 75% (or more) of the loan is used for payroll-related costs and the remaining amount is used for eligible expenses.
- FAQ’s for lenders and borrowers
- Calculate your PPP Maximum Loan Amount by Business Type
- Seasonal Businesses Guidance
- Find a lender
- What happens when the lender approves and disburses my loan?
For more information, visit www.sba.gov/paycheckprotection
Other SBA Resources Currently Available (POSTED 4/21/20)
The SBA is committed to helping small businesses recover from the economic impact of COVID-19. Currently available assistance includes:
- Funding: SBA 7(a), 504 and microloans, on which the SBA is offering Debt Relief; or, SBA Express Bridge Loans.
- Advising: The SBA Resource Partner Network for business resiliency readiness advising and training.
- Tax Relief: IRS information about tax relief for businesses.
- State Resources: Wisconsin Economic Development Corporation for employers and small businesses and Wisconsin Small Business Development Center network.
WEDC COVID-19 Resources – Small Business 20/20
This website also includes a FAQ and more information for WEDC’s Small Business 20/20 loans.
Wisconsin Economic Development Association – COVID-19 Information and Resources
The Wisconsin Economic Development Association provides a straightforward website on the existing and new COVID-19 related SBA loan/grant programs.
Wisconsin Small Business Development Center Coronavirus FAQs
The Wisconsin Small Business Development Center has created a list of FAQs on available resources and a “to do” list to properly deal with this challenge.
USDA COVID-19 Federal Rural Resource Guide (POSTED 4/15/20)
“USDA and its Federal partners have programs that can be used to provide immediate and long-term assistance to rural communities affected by the COVID-19 outbreak.”
USDA Announces Coronavirus Food Assistance Program (POSTED 4/21/20)
“This new U.S. Department of Agriculture (USDA) program will take several actions to assist farmers, ranchers, and consumers in response to the COVID-19 national emergency.”
U.S. Department of Labor Press Release Regarding the Families First Coronavirus Response Act
This press release from the Department of Labor includes details and resources for “employees and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act (FFCRA) when it takes effect on April 1, 2020.”
Food Finance Institute “Huddle” Meetings
Notes, advice and resources from the Food Finance Institute, including knowing when to hit “pause” on your business.
Next Huddle: The Food Finance Institute holds Huddle meetings on Mondays a 1 pm (CT). To receive registration information and updates on the Huddles, fill out the contact form here: https://edible-alpha.org/contact-us/
IRS Coronavirus Tax Relief
The IRS has established a special website focused on steps to help taxpayers, businesses and others affected by the coronavirus here.
FTC Coronavirus Scam Information
The Federal Trade Commission offers tips to avoid coronavirus scams here.
CDR COVID-19 Alert
Although not directly related to small businesses and entrepreneurs, CDR Director John Lucey posted an update on CDR operations and events. This page also includes links to additional resources for dairy processors here.
Michael Best COVID-19 Resource Center
“Michael Best has formed a COVID-19 Task Force to advise our clients on business and legal implications related to the coronavirus.” View website.
Vic Grassman, CEcD
TURBO Commercialization Manager
Phone: 608-512-6661 | email firstname.lastname@example.org