March 23, 2020

Wisconsin SBDC to assist businesses with disaster loan applications

The Wisconsin Small Business Development Center (SBDC) Network is helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic.

The Wisconsin Small Business Development Center (SBDC) Network is helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic.

Free consulting also available to help owners cope with challenges caused by COVID-19 pandemic

The Wisconsin Small Business Development Center (SBDC) Network is helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic.

“We know that business owners are facing uncertain times as the nation combats the COVID-19 pandemic," said Andy Donahue, director of the SBDC at UW-Superior. "Northwest Wisconsin business owners should know that the SBDC is here to help them throughout their business cycle as their everyday lives are being disrupted. They are more than welcome to contact our office so we can assist them in whatever means necessary.”

The SBDC at UW-Superior, located in Erlanson Hall, Room 108, can be reached via email or at (715) 394-8351 .

The U.S. Small Business Administration (SBA) is offering designated states and territories, including Wisconsin as of March 20, low-interest Economic Injury Disaster Loans (EIDL) for working capital as small businesses have been forced to close or scale back significantly to contain the spread of the virus.

The Wisconsin SBDC, a resource partner of the SBA, has created a webpage 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.

“Business owners face devastating, unprecedented challenges as cash flow and everyday lives are severely disrupted,” said Bon Wikenheiser, state director. “They need expert advice they can trust now more than ever.”

The Wisconsin SBDC Network, hosted by the University of Wisconsin System since 1980, offers no-cost, confidential consulting and business education to new and existing businesses. In 2019, the SBDC served 4,658 clients, resulting in $91.3 million in capital investment, 300 new businesses, and 19,717 jobs supported.

“The UW System and its universities are proud to partner with the SBDC Network, and we know what vital service and support it provides to businesses and people across the state,” said UW System President Ray Cross. “That will be critically important as we all face the widespread economic impacts of the COVID-19 pandemic.”

“The SBDC Network is a trusted partner of the SBA,” said Eric Ness, Wisconsin’s SBA district director. “Small business owners should use their services to ease and expedite the loan submission process.”

The Wisconsin Small Business Development Center (SBDC) Network is helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic.

The Wisconsin Small Business Development Center (SBDC) Network is helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic.

About the Wisconsin SBDC
The Wisconsin Small Business Development Center (SBDC) is a nationally accredited statewide network supporting entrepreneurs and business owners through no-cost, confidential consulting and business education. Regional SBDC experts facilitate improvement and growth for small and emerging mid-size companies and help launch successful new enterprises. The Wisconsin SBDC is hosted by the University of Wisconsin System Administration under the Institute for Business & Entrepreneurship.

About America’s SBDC
America’s SBDC represents the nation’s 63 Small Business Development Centers, a national network of partnerships uniting higher education, state, and local nonprofit economic development organizations, private enterprise, and government. It is the Small Business Administration’s largest partnership program, providing management and technical assistance to help Americans start, run, and grow their own businesses.

About the Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. sba.gov

About UW System
The University of Wisconsin System serves approximately 170,000 students. Awarding nearly 37,000 degrees annually, the UW System is Wisconsin’s talent pipeline, putting graduates in position to increase their earning power, contribute to their communities, and make Wisconsin a better place to live. More than 80 percent of in-state UW System graduates stay in Wisconsin five years after earning a degree. The UW System provides a 23:1 return on state investment. UW System institutions also contribute to the richness of Wisconsin’s culture and economy with groundbreaking research, new companies and patents, and boundless creative intellectual energy. wisconsin.edu

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