Resources Available For Small Businesses Detailed On Community Comment

(Dodge County) There are resources available for small businesses that have been impacted by the coronavirus pandemic. Kevin Kauffman is the Director of the Wisconsin Small Business Development Center at UW-Whitewater which is partnering with ThriveED, a joint economic development venture between Dodge and Jefferson Counties. He says there are two major programs coming out of the federal government aimed at assisting small businesses. The first is the Economic Injury Disaster Loan which is money being lent or granted directly from the Federal Government’s Small Businesses Administration. Kauffman says to apply visit the small businesses administration disaster website at www.sba.gov. He says the loan carries an interest rate of three-point-seven-five-percent (3.75) and there are no payments for the first four months. Kauffman says the other resource available is the Payroll Protection Program which is set up through a business’s local bank. He says the PPP has a large forgivable component as store owners can use the money for rent, utilities and to sustain payroll. ThriveED and the Wisconsin Small Business Development Center at UW-Whitewater are helping local businesses apply for these programs. To learn more visit https://www.thriveed.org/covid-19-business-resources/back-to-business/.