The business impact of Covid-19 is having an enormous impact on the business community in the 7 Rivers Region. We are committed to being a resource and a guide to get you through these challenging times.

Here are links for Wisconsin, Iowa and Minnesota and nationally that has important information for your business. We will update this page as more information becomes available.

CARES small business guide

Wisconsin Essential Business listings

Small business guide to dealing with Covid-19

Wisconsin Unemployment COVID-19 Public Information

SBA disaster loans

Wisconsin Coronavirus (COVID-19) Business Resource Center

WEDC Small Business 20/20

La Crosse Chamber business toolkit

Be Local La Crosse

La Crosse Area Development Corp.

COVID-19 / | Employers – Unemployment Insurance Minnesota

Minnesota COVID-19 business toolkit

Minnesota COVID-19 Information for Businesses and Employers

Novel Coronavirus – Business & Organizations

Iowa File a Claim for Unemployment Insurance Benefits

COVID-19: Iowa Business Recovery Assistance

CDC Interim Guidance for Businesses and Employers

SBA Disaster Loan Assistance

KIVA crowd-funding

Outbreaks in Wisconsin

Minnesota Coronavirus Disease 2019 (COVID-19)

La Crosse Tribune article on local, state and federal business help

SBA Assistance contacts
Phone: 800-659-2955 7a to 9p ET seven days a week
Website: www.sba.gov/disaster
Phone: 800-659-2955 7a to 9p ET seven days a week
Individuals who are deaf or hard-of-hearing can call 800-877-8339
Wisconsin’s SBA office will also offer daily webinars starting Saturday, March 21 to answer your
questions–register now:
10:00 am webinars: http://ow.ly/BKV850yR5qb
2:00 pm webinars: http://ow.ly/QMbX50yR5w5

SBA Q&A

Q&A regarding presentation for “Economic Injury Disaster Loans”
Q: How is the disaster loan amount determined?
A: SBA will look at the last three years tax returns along with the current YTD profit & loss statement to determine what
the business could have paid if the disaster would not have occurred. The loan funds will not provide for lost sales.
Q: Is the interest rate fixed?
A: Yes
Q: Can there be interest only payments on the disaster loan?
A: Automatically there is 4 months of interest only monthly payments due that begin from the date of the Note.
Q: Is there a certain amount of equity that is required for the loan?
A: For loans $25,000 and less the loans are unsecured. Loans over $25,000 require collateral, however there is not a
certain amount of equity required.
Q: Is there a certain time period that the business needs to be in operation?
A: No
Q: Is there a different business size standard for disaster loans than the SBA 7a program?
A: No, same size standard as the 7a program
Q: What is the time frame for businesses to receive funds once the application package is submitted?
A: The typical timeframe is 21 days for a decision on the application package if all information is provided accurately by
the applicant. After decisioning, SBA legal prepares the closing documents to send to the borrower. After receipt of the
signed documents the funds are direct deposited typically in 3 -5 business days.
If collateral is required for the loan SBA will prepare a partial disbursement of $25,000 to submit to the borrower and
release the remaining funds once all collateral is appropriately secured.
All SBA programs and services are extended to the public on a nondiscriminatory basis. 2
Q: Are there reconsiderations made if the disaster loan is denied by SBA?
A: Yes. An example would be if the loan was turned down for insufficient income and the owner would like to add on a
co-borrower, such as a spouse.
Q: What if an applicant is approved for the loan but withdraws their application. Do they have to re-apply again?
A: The applicant will have up to 6 months to reactivate their loan that was approved.
Q: Should applicants complete a paper application beforehand and send in once a disaster is declared for the area?
A: Applications cannot be submitted until a disaster is declared for the area in which the business is located. Once this
occurs a paper application can be sent in to SBA, however completing the application online electronically ensures a
faster process. If SBA receives the paper application a staff member needs to input the information into the electronic
application system. This will slow down the application process.
Q: To meet the credit available elsewhere that is required does the applicant need to be turned down for financing
elsewhere?
A: No this is not a requirement. SBA will complete the thorough analysis to determine this based on the information
provided by the applicant.
Q: If using a joint tax return and the spouse is not an owner of the business does the spouse need to sign the 4506?
A: No.
Q: If the business has insurance that will provide loss proceeds will this become a problem during application?
A: No, if insurance proceeds are disbursed to the business after the loan is funded those proceeds would be used to pay
down on the disaster loan.