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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. This calculator does not calculate the Annual Percentage Rate or Average Prime Offer Rates. BLP does not guarantee any of the information obtained by this calculator.

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COVID-19 financial resources

Covid-19 BLP Business Resources

BLP Financial Assistance in Response to the Coronavirus

This page is meant to help business owners affected by COVID-19 navigate through available financial resources created and curated by our team of lending experts. You will find direct access to and applications for current relief programs. You will also find educational resources available through other organizations.

 

Please check back regularly as resources will continue to be made available to Wisconsin’s valuable business community.

 

If you have any questions about these resources or need help getting started, please contact a BLP staff member.

SBA 504 loan fund deferments

blp resources coronavirus

Business Lending Partners – Given the current impact of COVID-19 on local businesses, loan deferrals are being considered on SBA 504 loans. Deferrals of principal or principal and interest up to six months can be requested. The total amount requested to be deferred cannot exceed 20% of the original loan amount.

  • Statement Documenting Temporary Nature of Cash Flow Problem
  • Current Financial Information

REVOLVING loan fund deferments

rlf deferment blp

Business Lending Partners – Loan deferrals are being considered on current Revolving Loan Funds (RLF). Deferrals of principal up to six months can be requested.

  • Statement Documenting Temporary Nature of Cash Flow Problem
  • Current Financial Information

SBA 504 refinancing options

blp refinance

Business Lending Partners – Were you aware the SBA 504 program has two different refinance products- with (no cash out) and without (cash out) expansion? In both cases the debt being refinanced must have originally been used for an eligible SBA use, building or equipment purchase and the borrower can tap into the assets’ equity for the loans required equity injection. If you have a prospect that is interested in refinancing their fixed asset, give one of our Loan Officers a call to discuss how a 504 loan can assist them.

TARGETED GRANTS FOR SMALL BUSINESSES AFFECTED BY CORONAVIRUS

SMALL BUSINESS 2020 (SB20/20)

Wisconsin Economic Development Corporation (WEDC) – In another step toward assisting small businesses that suffer losses related to the COVID-19 health emergency, the WEDC created a program to provide grants to targeted businesses throughout the state.

 

The WEDC Board of Directors approved $5 million in funding for the program known as Small Business 20/20 (SB20/20). The amount is $20k per business with less than 20 employees.

ECONOMIC INJURY DISASTER LOANS (EIDLS)

FEDERAL DISASTER LOANS FOR BUSINESSES, PRIVATE NONPROFITS, HOMEOWNERS, AND RENTERS
*NOW ACCEPTING APPLICATIONS* - DEADLINE: DECEMBER 21, 2020

SBA Covid 19 Disaster Relief

Small Business Administration – The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

 

Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, an Economic Injury Disaster Loan declaration.

  • Small Business by SBA Size Standards that are directly impacted by the disaster
  • Business directly affected by disaster or offer services to the business in declaration
  • Other businesses indirectly related to the industry that are likely to be harmed by losses in their community
  • Private Non-Profits

 

SBA Size Standards: sba.gov/size

NAICS Listing: NAICS.com 

NOTE: Borrower can apply for EIDL or Guarantee product – not both

These webinars will provide an overview of the Economic Injury Disaster Loans that are available to Wisconsin small businesses and private, non-profits. Information included will be:
  • Program eligibility
  • Use of proceeds
  • Terms
  • Filing requirements
  • Additional small business resources

REGISTER FOR 10am WEBINAR

REGISTER FOR 2pm WEBINAR

EMERGENCY ECONOMIC INJURY GRANT

sba emergency economic injury grant

Small Business Administration – The purpose of this grant is to keep employees on payroll, pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations including debts, rent, and mortgage payments.

Grants disbursed within 3 days of applying for Economic Injury Disaster Loan; No repayment required under any circumstance

Apply for EIDL then request the advance; Small business or private, non-profit; In operation since Jan. 31, 2020; Businesses that already applied for EIDL are eligible

Express bridge loan (EBL) pilot program

sba bridge loan
Small Business Administration – The Express Bridge loan program allows SBA Express lenders to provide expedited financing to small businesses located in declared disaster areas. Express Bridge loans are intended to be interim loans. Businesses use these funds for disaster-related purposes while they apply for and await long-term financing.
  • Maximum Loan Amount: $25,000
  • SBA Guarantee: 50%
  • Maximum Maturity: 7 Years
  • Program Expiration Date: September 30, 2020

WWBIC UNCOLLATERALIZED LOANS UP TO $25K

WWBIC Covid 19 loan

Wisconsin Women’s Business Inititiative Corporation — WWBIC’s interest rate is higher than a traditional bank loan; however, all loan grantees have access to business consultants that can help guide businesses through a multitude of challenges. These loans also have no pre-payment penalities, so if you are able to refinance with a lower-interest loan, you can do so at any time.

RESOURCES TO HELP YOUR SMALL BUSINESS SURVIVE THE CORONAVIRUS

US Chamber Resources

U.S. Chamber of Commerce — The coronavirus is causing financial difficulties for businesses across the U.S. Here are five resources that can help you navigate this difficult situation.

 

  1. The Coronavirus Response Toolkit
  2. SBA Disaster Assistance Loans
  3. State-wide Initiatives to Help Small Businesses
  4. Assistance from Banks & Credit Card Companies
  5. Federal Small Business Assistance

aBOUT BLP

Since 1983 Business Lending Partners (BLP) has administered nearly $600 million to 500+ businesses throughout the entire state of Wisconsin. BLP is the only Certified Development Company (CDC) headquartered in Southeast Wisconsin.

 

Contact one of our expert staff members and see how you, your business, or your client’s business can benefit from the financial opportunities we provide.