The Wisconsin Economic Development Corporation (WEDC) launched the Small Business 20/20 program to support small businesses and micro-enterprises adversely economically impacted by the COVID-19 Virus. It provides $5 million in emergency capital to Wisconsin-based Community Development Financial Institutions (CDFIs) to make grants to existing loan clients to mitigate short-term cash flow issues to protect jobs and public health in response to the Covid-19 outbreak. Funds must be used for rent and payroll expenses including paid leave related to COVID-19.
Eligible for-profit businesses: current loan recipients in good standing as of 3/1/20 with the approved CDFI and/or its collaborating CDFIs. These businesses must have 20 or fewer full-time or part-time employees and greater than $0 but less than $2 million in annual revenues. Preference will be given to service and retail businesses.