Pandemic Resource Update 4-6-20
Good afternoon clients,
Quite a bit for you again today. Not too much is new, but there are some important follow-up items. Stay tuned for grant app tomorrow and I’m hosting a client Zoom meeting tomorrow at 2 p.m.
PPP Loans
It appears that select banks started to offer PPP loans as of 4/3 and other banks are promoting PPP to their current customer base/possibly even being proactive with their good and long standing clients. If your depository bank is not offering PPP, you may need to be vigilant with finding an alternative.
I did receive confirmation of business owners who were approved over the weekend for PPP loans via their banks. They have been advised of a 48 hour turn around to receive funds.
Unemployment for Self-employed
Here’s an article regarding unemployment from April 1, but was updated again April 3: https://www.jsonline.com/story/money/business/2020/04/01/coronavirus-wisconsin-apply-unemployment-now-if-you-lost-job/5096763002/. Some snippets from the article:
Q: Can I get benefits if I am self-employed?
A: Yes. Under a federal program, people who are self-employed, including independent contractors and freelancers, now are eligible for unemployment benefits. They previously were not.
The Department of Workforce Development, however, has asked that people who were self-employed wait to file for benefits because its system is not set up to accept the claims. It expects to complete the changes by mid-to-late April.
Benefits will start from the time that the person became eligible for unemployment — not when the claim is filed — and people also will receive the additional $600 a week.
DWD’s website contains this information:
If you were not eligible for unemployment before the CARES Act [self-employed]: (Federal Stimulus Bill) was passed we are asking you to wait* to file because our system is not yet set up to accept your application. We are waiting on additional guidance from USDOL. We expect those changes to be complete by mid-to late-April. We understand how important it is to get these payments to you as quickly as possible, and we are doing everything we can to get you the help you need. We will have the most up-to-date information at https://dwd.wisconsin.gov/uiben/caresact.
Contacting Unemployment
DWD is experiencing an unprecedented call volume to our unemployment insurance and IT help lines. Unless you have received official notification from Unemployment Insurance that you must call our call center, please search for your answer at dwd.wi.gov/covid19/ or dwd.wi.gov/uiben/faqs in order to free up phone lines for folks who are required to call in.
Dane County Grants
The amount of funding for Dane County grants (being administered through Dane Buy Local) has been increased from $250,000 to $800,000. A WWBIC staff member is participating on the grant committee. See Press Release content below:
Dane County Increases Funding for Small Business Pandemic Support Grant Program to $800,000 Following Overwhelming Community Interest
Funds Will Help More Small Businesses in Dane County Stay Afloat During COVID-19 Pandemic
Today, County Executive Joe Parisi announced that Dane County will increase funding for its Small Business Pandemic Support Grant Program to $800,000 following overwhelming community interest the last few days. The new grant program was announced Wednesday, April 1 and started out at $250,000. By Thursday evening, Dane Buy Local had received 800 grant applications from local businesses. By more than tripling the funding total, Dane County and Dane Buy Local hope to help even more local businesses survive the COIVD-19 public health crisis, which has caused many to temporarily close their doors.
“I’m pleased to be able to increase funding for the Dane County Small Business Pandemic Support Grant Program to help more small businesses stay afloat during this challenging time,” said County Executive Joe Parisi. “We want local businesses to know we stand with them and support them. We encourage small business owners throughout Dane County to apply for this funding to help retain employees and cover expenses.”
A total of $800,000 will be available through this grant program to support small businesses throughout Dane County with employee retention and to mitigate losses from the COVID-19 pandemic. Dane Buy Local will administer the grants and has information about the County’s grant program on their website www.danebuylocal.com. There, business owners will be able to fill out a Google form to learn more information and apply. Grants as small as $1,000 will be awarded. Applications will be accepted through June 15, 2020.
“The support for local businesses is increasing significantly from Dane County and County Executive Joe Parisi with their notification that additional funds will be put toward the small business relief program,” said Colin Murray, Executive Director of Dane Buy Local. “We commend Dane County’s efforts, recognizing that the big winners of this commitment will be small local businesses, who continue to work hard to keep their business viable during these health and economic crises.”
A resolution recognizing this agreement between Dane County and Dane Buy Local was adopted by the County Board at last Thursday’s meeting. A resolution recognizing this increase in grant funding is expected to be approved by the Board in the coming weeks. If business owners have questions about the grant program, they can call 608-712-3440 or email colin@danebuylocal.com.
“Realizing that the County Board approved this program in concept at our last meeting, the reality that the need is so much greater justifies an increase in funding at this point in time. Businesses across Dane County need our help,” said Dane County Board Chair Analiese Eicher. “That we can take this action quickly together is yet another example of Dane County leaders coming together in these trying times.”