Q: Who is eligible for SB20/20 Funds?
A: Businesses that currently have a loan through a community development financial institution in Wisconsin and meet the additional program guidelines are eligible.
Q: What is a community development financial institution? Where can I find a list of community development financial institutions in my area?
A: Community development financial institutions include community development banks and credit unions and non-regulated institutions such as non-profit loan funds or venture capital funds. A list of community development financial institutions that have received funds from the Wisconsin Economic Development Corporation for disbursement to existing loan clients can be found here.
Q: If I am not an existing client of one of these community development financial institutions, can I apply to them for SB20/20 funds?
A: This program is only open to businesses that have loans with a community development financial institution. The Wisconsin Economic Development Corporation is working to expand access to funding through other programs as more resources become available. More information is becoming available, we encourage you to keep checking our website for the most up-to-date information.
Q: What other funding is available to help small business owners affected by COVID-19?
A: For the latest information on programs and resources available to Wisconsin businesses facing operational challenges resulting from COVID-19 pandemic, we invite you to visit our COVID-19 Business Resources page