Small Business Guide and Checklist Coronavirus Emergency Loans

In Wisconsin there are 109,023 Small Businesses which employee 2.56 million people. The Coronavirus, Aid, Relief and Economic Security (CARES) Act has allocated $350 billion to help small businesses keep workers employed, specially through the “Paycheck Protection Program.” The Paycheck Protection Program initiative provides 100% federally guaranteed loans to small businesses.

The U.S. Chamber of Commerce answers the following questions in the attached guide.

  1. Am I Eligible?

  2. What will Lenders be Looking For?

  3. How Much Can I Borrow?

  4. Will this Loan be Forgiven?

Guide to SBA's Economic Injury Disaster Loans

The U.S. Chamber of Commerce released a guide on April 1, 2020 explaining how the Coronavirus, Aid, Relief, and Economic Security (CARES) Act expands the Small Business Administration’s (SBA) long-standing Economic Injury Disaster Loan Program (EIDL). This guide shows who is eligible, what the loan parameters are, and how Small Business’s can access an EMERGENCY $10,000 Grant. Find the information here.

Coronavirus Aid, Relief, and Economic Security Act (CARES)

On Wednesday March 25, 2020, the U.S. Senate passed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act by a unanimous 96-0 vote.  The U.S. House passed the bill on Friday March 27, and President Trump signed the bill into law hours later.  Included in the new law are several provisions which directly affect the operation of aspects of the default mortgage industry, which go into effect immediately. The applicable portion of the new law affects those in the collections industry not only in Wisconsin, but nationwide. Read the entire text by clicking on the header to reveal link.

State of Wisconsin Emergency Order #15 Temporary Ban on Evictions and Foreclosures

On March 27, 2020, Governor Tony Evers signed Emergency Order #15; entitled “Temporary Ban on Evictions and Foreclosures”. The order is in effect until May 26, 2020. Read the full text of the order by clicking on the header to reveal link.