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For up-to-date information regarding Janesville Small Businesses and COVID-19, visit: http://bit.ly/COVID19BusinessAssistance

COVID-19

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The City of Janesville recognizes the burden that COVID-19 is placing on area business.  Below, are a few of the resources identified by the Economic Development Office. We will update this page as new resources are identified.

We are in this together and we are here to help. The City of Janesville has established a Community Assistance Hotline for questions regarding the COVID-19 pandemic.  Please call 608-373-6027, if you have questions or concerns.

 

FINANCIAL ASSISTANCE FOR BUSINESSES AFFECTED BY COVID-19

Please be advised that these are external links and the resources are not provided directly from the City of Janesville.

 

Small Business 20/20

Wisconsin Economic Development Corporation
https://wedc.org/programs-and-resources/small-business-2020/

Eligible Applicants are Wisconsin Based Community Development Financial Institutions (CDFI’s)

CDFI will provide grants for for-profit businesses meeting the following criteria

Current loan recipient in good standing as of 3/1/20

            20 or fewer employees

            Revenue greater than $0 and less than $2million

            Preference for service/retail businesses

 

Federal Disaster Loan Assistance

Small Business Administration

https://disasterloan.sba.gov/ela

Eligible Applicants can receive up to $2 Million for working capital loans to allow businesses to maintain operations.  Unsecured loans of up to $25,000.  Over that will take collateral.

Additional details through website above.

The State of Wisconsin has officially been declared a disaster area. 

The SBA will offer webinars at 10am and 2pm daily Through April 10th.  Click Here to register.

 

Facebook Small Business Grants Program

https://www.facebook.com/business/grants

Eligible companies can use the grants to pay employees, rent, social media/marketing and to cover other operational costs.

Details forthcoming.   Follow up with the web site above.

 

Inc. Financial Assistance Tracker for Businesses Impacted by Coronavirus

https://www.inc.com/kevin-j-ryan/coronavirus-resource-list-for-businesses.html

Inc.com has established a financial assistance tracker listing various organizations and agencies that are offering financial assistance to small businesses that have been affected by Coronavirus.  This is being updated on an ongoing basis 

 

KIVA Loan Program

Kiva lenders have shown their commitment to providing financial assistance to all by making 0% interest loans to entrepreneurs in the U.S. on Kiva.org for the last 10 years.

Effective immediately, U.S. applicants for a Kiva loan will have access to the following:

  • Expanded eligibility: More businesses in the US will be eligible for a Kiva loan.
  • Larger loans: The maximum loan on the Kiva platform will increase from $10,000 to $15,000.
  • Grace period: New borrowers may access a grace period of up to 6 months for greater financial flexibility.

 For more information please check out the link below.

https://www.kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic