Economic Crisis/COVID-19 (CORONAVIRUS) – Resources for Wisconsin Manufacturers
WMEP Manufacturing Solutions is collecting information resources and other direct assistance to manufacturing businesses. We encourage manufacturers who are feeling the effects of Covid-19 to reach out to local organizations collecting responses (links below) so that resources can be provided. If you have any comments or questions or wish to share steps you are taking within your company, please email John Stampen at [email protected]
One of the best ways to stay up to date on Wisconsin manufacturing news is to subscribe to WMEP Manufacturing Solutions’ monthly newsletter.
WMEP has several programs uniquely designed to assist Manufacturers:
- Covid-19 Risk Assessment and Mitigation Services Provided by T&M/WMEP
- The unknown transition process from “isolation” to “open for business” presents numerous challenges to business owners and is most likely not covered in your continuation of operations plan. As essential businesses, manufacturers can reduce the risk of future COVID-19 outbreaks by assessing their current risk and taking actual steps to mitigate these risks.
- We can help you identify and manage COVID-19 risks to protect your employees, their families, clientele and your communities.
- Improving Cash Flow: Discover2Recover – CARES Act
- Under the CARES Act, WMEP Manufacturing Solutions has been awarded a grant to help small and mid-size manufacturers analyze their current situation and take advantage of proprietary financial and business tools and expertise available under this program.
- Growing Sales:
- Many existing customers are delaying, reducing or cancelling purchases, which leads many companies to recognize the need to diversify and find new markets.
- Prioritizing Activities to Protect Profits:
- COVID-19 and the related Economic Crisis presents new risks for organization and amplifies existing risks. WMEP has partnered with T&M to put together solutions that are designed to reduce and manage risks associated with COVID-19.
- Workforce retention and engagement is another key organization risk, and front-line leader skills are crucial to both.
- Getting Cost Out of Your Business:
- When revenue is down, managing costs becomes more important. Reducing waste and improving productivity becomes essential.
From our partners at WEDC:
RELIEF AND RECOVERY RESOURCES FOR YOUR BUSINESS
Wisconsin businesses look forward to a future when they can return to providing the products and services their customers need and crave, unencumbered by threats to the health of their employees and those they serve. Working toward that future will require the gradual adoption of new business practices that reflect the evolving reality of the COVID-19 pandemic and our success in mitigating the effects of this unprecedented global health emergency.
With input from national and state health and industry experts and in partnership with the Wisconsin Department of Health Services, the Wisconsin Department of Agriculture, Trade and Consumer Protection, the Wisconsin Department of Safety and Professional Services, the Wisconsin Department of Tourism and our regional economic development partners, WEDC has compiled a series of industry-specific documents to help you get back to business while taking the necessary precautions to maximize safety. Following these guidelines will help us all get Wisconsin’s economy back on track.
WMEP Manufacturing Solutions has replicated information posted on the WEDC.org website to increase accessibility to this valuable information.
While the complete list has been replicated at the bottom of this page, WMEP has duplicated the categories most closely aligned with Wisconsin Manufacturers and placed them at the top of this list.
Wisconsin’s rich agricultural history contributes to fabric of our rural communities, which have been deeply affected by the COVID-19 pandemic. Continuing and evolving operations in the face of a global health emergency is possible with safety top of mind.
COVID-19 Business Resources:
- Focus Forward
- Ethnic Minority Emergency Grant
- Strategies for Small Businesses to Navigate COVID-19 Challenges
- We’re All In Small Business Grant
State of Wisconsin Resources:
- Coronavirus Information for Partners
- Answers to frequently asked questions by the Wisconsin Department of Workforce Development.
- COVID-19: How we can help businesses
- The Small Business Development Center-Institute for Business & Entrepreneurship has created a page with important information for its clients amid quickly changing conditions and unprecedented measures put into place during the COVID-19 pandemic.
- SBA Economic Injury Disaster Loan Assistance
- The Wisconsin SBDC, a resource partner of the SBA, has created a web page to help business owners understand the qualifications and application process for the Economic Injury Disaster Loan (EIDL) program. Consultants across the network’s 13 locations are working remotely via phone, email and virtual tools to assist clients.
- Wisconsin Farm Support Program
- The Wisconsin Farm Support Program, administered by the Wisconsin Department of Revenue, is a federally funded program that will provide $50 million of relief to farmers that suffered economic damages in 2020 as a result of the COVID-19 pandemic. Individual payments will range from $1,000-$3,500. Wisconsin farmers with gross income between $35,000 and $5,000,000 in 2019 may be eligible to receive a payment. The application period for this funding runs from June 15 through June 29.
- Wisconsin Department of Revenue
- The Wisconsin Department of Revenue is providing immediate help for small businesses on sales taxes and taking other steps to help taxpayers in response to COVID-19.
- U.S. Economic Development Administration CARES Act Recovery Assistance
- The U.S. Economic Development Administration CARES Act Recovery Assistance provides a wide-range of financial assistance to communities and regions as they respond to and recover from the impacts of the pandemic.
- U.S. Small Business Administration
- On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses. In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak. With additional funding available, applications for Paycheck Protection Program funding will resume on Monday, April 27, 2020 at 9:30 a.m. CDT. View a list of lenders participating in the Paycheck Protection Program by state as of April 23, 2020.
- The Wisconsin Small Business Development (SBDC) Network and its partners are helping small businesses apply for federal disaster loans to mitigate the substantial economic injury as a result of the coronavirus (COVID-19) pandemic. The Wisconsin SBDC, a resource partner of the SBA, has created a web page to help business owners understand the qualifications and application process. Consultants across the network’s 13 locations are working remotely via phone, email and virtual tools to assist clients. The Wisconsin SBA and its other SBA resource partners— including WWBIC, Western Wisconsin Women’s Business Center, SCORE, and Veterans Business Outreach Center—are also working to assist their clients.
- SBA offices will also offer daily webinars to answer questions—register here:
- For assistance, contact the SBA’s helpline at 800-659-2955 7:00 a.m. to 9:00 p.m. ET seven days a week or by email [email protected]. Website: www.sba.gov/disaster.
- Coronavirus Tax Relief
- The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
- Coronavirus Resources
- The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus (also known as novel coronavirus).
- Coronavirus: Resources, Updates, and What You Should Know
- The U.S. Treasury Department is supporting American workers and businesses who are impacted by the coronavirus.
- Defense Production Act
- In response to the COVID-19 global crisis, the U.S. International Development Finance Corporation (DFC) is seeking to strengthen and restore domestic industrial base capabilities through the Defense Production Act (DPA). Projects eligible for a DFC-DPA Loan are those that create, maintain, protect, expand or restore domestic industrial base capabilities supporting: The national response and recover to the COVID-19 outbreak; or The resiliency of any relevant domestic supply chains.
- Export Import Bank of the United States (EXIM)
- The Export-Import Bank of the United States (EXIM) has announced a series of initiatives to inject liquidity into the market and give maximum financing flexibility to facilitate sales of U.S. goods and services abroad.
- Main Street Lending Program
- The Federal Reserve established the Main Street Lending Program to enhance support for small and mid-sized businesses that were in good financial standing before the crisis by offering 4-year loans to companies employing up to 10,000 workers or with revenues of less than $2.5 billion.
- U.S. Department of Agriculture Rural Development
- USDA Rural Development has taken a number of immediate actions to help rural residents, businesses, and communities affected by the COVID-19 outbreak.
- Brew City Match has developed two tools to ease the financial burden for small business owners:
- The Brew City Match COVID-19 Small Business Grant that provides up to $1,200 to assist small businesses with rent and payroll support.
- The Brew City Match COVID-19 Small Business Emergency Loan Fund that provides zero interest loans to small businesses to assist with rent, payroll, and additional business expenses.
- Coronavirus Resources for Municipalities
- The Wisconsin League of Municipalities’ COVID-19 page contains information that will help you navigate the pandemic.
- Hmong Wisconsin Chamber of Commerce Emergency Loan Fund
- The Hmong Wisconsin Chamber of Commerce (HWCC) has announced a new Emergency Loan Fund (COVID-19) in response to the negative impact that Coronavirus (COVID-19) has had on the Wisconsin business community. These funds are primarily used for working capital to cover rent, payroll, and other fixed expenses. This loan fund is similar to HWCC’s existing Revolving Loan Fund (RLF) Small Loan programs but with a slightly lower rate and an interest-only option for the first 3 months. Loans from $5,000 and up to $10,000. For more information about terms and interest rates, please contact HWCC Operations Manager, Ger Thao: [email protected].
- Wisconsin Emergency Response Program
- gener8tor is hosting emergency one-week virtual programs for small businesses affected by the COVID-19 outbreak. These programs will feature daily webinars designed to identify, understand and help small businesses secure resources to withstand the current crisis. One-on-one office hours will also be available.
- Kiva Loans
- Kiva has expanded small business lending on its online platform to include a larger list of eligible businesses, the possibility for larger loans, and a grace period for repayment. Learn more here (or visit the dedicated pages for applicants in Milwaukee or applicants in Madison).
- Small business owners affiliated with the African American Chamber of Commerce of Wisconsin, the Hispanic Chamber of Commerce of Wisconsin, the American Indian Chamber of Commerce of Wisconsin, and the Hmong Wisconsin Chamber of Commerce can contact these chambers directly for assistance.
- LISC Small Business Relief Grants
- Thanks to support from funders like Verizon and Sam’s Club, LISC is providing grants to small businesses to help them keep functioning and remain vital facets of their local economies through this challenging period.
- The Red Backpack Fund
- GlobalGiving will be making at least 1,000 grants of $5,000 each to female entrepreneurs in the U.S. to help alleviate the immediate needs and support the long-term recovery of those impacted by the COVID-19 pandemic.
- SBA Economic Injury Disaster Loan Assistance – The following organizations stand ready to help their clients apply for this federal aid:
- U.S. Chamber of Commerce Foundation Save Small Business Fund
- The Save Small Business Fund is a grantmaking initiative offering short-term relief for small employers in the United States and its territories.
- Wisconsin Humanities Council
- The Wisconsin Humanities Council is providing rapid-response funding to nonprofit humanities and cultural organizations that are facing financial hardship resulting from the COVID-19 coronavirus.
- WWBIC Classes
- WWBIC has moved all its business and financial educational programming on-line and on-demand.
The Wisconsin Department of Children and Families provides guidance to childcare providers to safely return to the critical role they play in protecting and educating children in nurturing environments.
Education, team building and safety are important cultural touchstones of the construction industry. COVID-19 adds a new layer to construction site safety protocols.
Businesses dedicated to our enjoyment and social interaction are challenged by the limitations now placed on togetherness. When it is safe to reopen entertainment venues, protecting the health of employees and patrons will require operational adaptation.
As Wisconsin’s lodging industry recovers from the impact of COVID-19, these businesses play a crucial role in preventing the spread of the virus, and must follow the most current guidelines for cleaning and disinfection.
Although public transportation usage has dropped, some essential workers must still use it, and it will need to be ready to safely restore full service when the time comes. Meanwhile, cargo transportation carries on, and both types must adapt to the challenges posed by social distancing requirements.