The City of Wauwatosa is continuing to monitor and assess the impact of the COVID-19 pandemic to the business community.

The Community Development Authority’s (CDA) Small Business Building Improvement & Resiliency Program provides one-time direct assistance to eligible Wauwatosa small businesses that demonstrate a material negative financial impact due to the pandemic and have a need for financial assistance to undertake building improvement and resiliency projects.  Projects can include maintenance projects, code updates and necessary or desired renovations or resiliency efforts (such as expenses for fixed equipment and point-of-sale system/online ordering system development or upgrades). There is a total of $500,000 in American Rescue Plan Act (ARPA) funds available for this program. 

The program will fund up to $15,000 per business to cover project costs submitted as part of a complete application that is reviewed and approved by the CDA; no match is required.

Questions about the program, eligibility requirements or application process can be sent to economicdevelopment@wauwatosa.net

Apply now.

To be eligible for assistance under this program, small business applicants must meet the following criteria:

• A small business physically located in the City of Wauwatosa, operating in a commercial space owned and/or occupied by the business and employing 35 or fewer FTE employees.
• Experience material economic hardship due to the COVID pandemic.
• Currently be in operation and have been in operation in Wauwatosa prior to January 1, 2022.
• Be in good standing and current on federal, state and local tax obligations (including City fees and personal property taxes) and have no outstanding liens, judgments, special assessments, fines, fees, code compliance violations, or involvement in a current lawsuit or criminal case.
• Self-certify eligibility requirements on the application.

Ineligible businesses include:

• Non-profit organizations, religious groups, and any tax exempt properties
• Home- based businesses and exclusively residential buildings
• National chains / franchises (unless a local franchisee that has not received franchisor financial support)
• Businesses not financially adversely affected by the COVID pandemic

   The application process includes the following requirements:

• Submit two competitive quotes/proposals from licensed and bonded contractors. These quotes/proposals should give detailed information about the work to be done, the costs, and the project completion schedule. Contractors cannot be changed unless new proposals have been submitted to the CDA.  Quotes must be uploaded as part of the application process.
• Receive CDA approval prior to undertaking any work on the project.
• Present the application to the CDA who will consider approval at their regular monthly meeting.  Approval must be obtained prior to work being undertaken.
• Complete project within 12 months of approval or request/receive an extension from CDA. Funds will be distributed as a reimbursement when the project is complete and proof of paid invoices and contractor lien waivers have been submitted to the City.

 The CDA will evaluate applications based on the following criteria:

• Demonstration of material negative impacts of the pandemic on the business through the accurate disclosure of gross annual revenue in 2019, 2020 and 2021 and selection of negative impacts (decreased revenue or gross receipts, financial insecurity, increased costs, capacity to weather financial hardships, challenges covering payroll, rent, and other operating costs, other).

  Upon request from the CDA, the business shall provide documentation that demonstrates economic hardship due to the pandemic that could include profit and loss statements, tax returns or other financial statements.

• Description of the significance of the project the business is undertaking as well as the intended outcomes and benefits. Would the project move forward without this funding, be deferred, other? 

Main Street Bounce Back Grants - Applications Now Open

The Main Street Bounceback Grants program provides $10,000 to new or existing businesses and non-profit organizations moving into vacant properties in Wisconsin’s downtowns and commercial corridors. The program is open to new or existing businesses opening a new location or expanding operations in a vacant commercial space as of January 1, 2021. Grant funds are available as part of the American Recovery Plan Act and will be distributed by the Wisconsin Economic Development Corporation (WEDC) regional partners. Businesses must apply through the partner organization for the region in which they are located. Applications are open through December 31, 2022. 

Additional information about the Main Street Bounce Back Grants is available here: https://wedc.org/programs-and-resources/mainstreet-bounceback-grants/

Focus Forward - Wisconsin Economic Development  Corporation

Focus Forward provides tools, information and inspiration related to business, community and personal resilience. It’s a place to communicate and connect regularly, where you’ll find information on financial and operational assistance programs from the Wisconsin Economic Development Corporation (WEDC) and other state and federal partners that will prepare you for economic recovery.  Visit Focus Forward for the latest information and financial assistance programs available.

Kiva Crowdfunded Loan Program

Kiva has made loans more available than ever for small business owners during tough economic times. Apply for a loan. 

In addition to 0% interest and no fees, U.S. applicants for a Kiva loan will have access to the following:

• Expanded eligibility: More businesses in the US will be eligible for a Kiva loan.
• Larger loans: The maximum loan on the Kiva platform will increase from $10,000 to $15,000.
• Grace period: New borrowers may access a grace period of up to 6 months for greater financial flexibility.

MMAC, MCW & M7 Business Restart Toolkit

A collaborative effort between MMAC, the Medical College of Wisconsin and the Milwaukee 7 Economic Development Partnership has launched an online toolkit to help business restart and operate safely while protecting employees, customers and facilities. The toolkit, which can be accessed online, is designed to help businesses identify risks and implement health and safety procedures that will protect their employees and customers.

Toolkit resources include:

• A restart checklist to give business leaders a step-by-step approach to opening and operating safely.
• Health and safety best practices that are based in science.
• Quick links to resources for disinfecting, personalized protection equipment, and more.

Small Business Administration (SBA) Information

The U.S. Small Business Association (SBA) offers information on Coronavirus small business guidance and loan programs.  The SBA can assist small businesses with accessing federal resources and navigating their own preparedness plans as described by the CDC’s Guidance for Businesses and Employers.  Additionally, the U.S. Chamber of Commerce provides helpful summaries of SBA programs and how to apply for assistance. 

Find SBA Assistance Near You

• Most SBA partners are working by phone or by video conference 
  • Small Business Development Centers and the Institute for Business and Entrepreneurship  have created a page to connect you with local assistance and other resources. Reach their Answer line at 800-940-7232.
  • The Wisconsin Women's Business Initiative Corporation is moving some classes online and is responding to inquiries.
  • SCORE Southeast Wisconsin is available by phone and by e-mail for advising.

• Small businesses with SBA-backed micro-loans, 7(a) loans, and 504 loans can request deferrals of three-six months. Contact your lender for details. 
  

Other Federal, State, and Local Resources

• The IRS has established a webpage to help taxpayers, businesses and others affected by the Coronavirus.

• The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus, including use of Family Medical Leave.

• Wisconsin Main Street's Downtown District & Businesses: Coronavirus Response guidebook includes high-level information on the Coronavirus, links to resources for specific technical resources, and best practices and ideas for marketing, communications, outreach and business and event planning during the upcoming period of economic and social change.

• Department of Workforce Development's Coronavirus Information for Partners responds to the rapidly evolving public health emergency.  DWD understands COVID-19 that has raised many questions by individuals, businesses, and organizations. Work-Share is a DWD program that helps businesses avoid layoffs, allowing workers to remain employed and employers to retain trained staff during times of reduced business activity.

• The Metropolitan Milwaukee Association of Commerce (MMAC) and Milwaukee 7 are available to support Milwaukee Region businesses during the Coronavirus outbreak. MMAC has created a Coronavirus Guidance & Resources web page with the latest information for business leaders.

• Wisconsin Women’s Business Initiative Corporation (WWBIC) - WWBIC is working with federal, state and local partners to support our many WWBIC borrowers and entrepreneurs and businesses in need of loan capital now. Check back often for updates as this situation continues.

• Wisconsin Unemployment Benefits - Wisconsin unemployment benefits are available to any individual who is unemployed through no fault of his/her own. If an employer must lay off employees due to the loss of production caused by the Coronavirus, individuals may be eligible for unemployment benefits if they meet the monetary criteria and the weekly eligibility criteria.

• U.S. Treasury 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.

• Some banks, such as Associated Bank, are extending additional support for small business clients experiencing hardship from the impact of the virus (e.g., loan payment deferrals, temporary credit card payment relief assistance, etc.) Please contact your lender for additional information.

• Almost all businesses carry insurance and for many, business interruption insurance exists within their policy. You should check with your insurance provider to understand your coverage and what, if any claims you may have.

• The Wisconsin Restaurant Association (WRA) has resources to inform restaurants on the latest policies, mandates and guidelines and is working to provide additional resources, including an FAQ on HR practices, food safety and unemployment. WRA also shares ideas to keep businesses viable while serving the community.

Common issues that small businesses may encounter

• Capital access. Incidents can strain a small business’s financial capacity to make payroll, maintain inventory and respond to market fluctuations (both sudden drops and surges in demand). Businesses should prepare by exploring and testing their capital access options so they have what they need when they need it. View the SBA’s capital access resources.
• Workforce capacity. Incidents have just as much impact on your workers as they do your clientele. It’s critical to ensure that your workers have the ability to fulfill their duties while protected.
• Inventory and supply chain shortfalls. While the possibility could be remote, it’s a good preparedness measure to ensure you have either adequate supplies of inventory for a sustained period and/or diversify your distributor sources in the event that one supplier cannot meet an order request.
• Facility remediation/clean-up costs. Depending on the incident, there may be a need to improve the protection of customers and staff by increasing the frequency and intensity that your business cleans surfaces that are frequently touched by occupants and visitors. Check your maintenance contracts and supplies of cleaning materials to ensure they can meet increases in demand.
• Insurance coverage issues. Many businesses have business interruption insurance. Now is the time to contact your insurance agent to review your policy to understand precisely what you are and are not covered for in the event of an extended incident.
• Changing market demand. Depending on the incident, there may be access controls or movement restrictions established which can impede your customers from reaching your business. Additionally, there may be concerns about public exposure to an incident, and customers may decide not to go to your business out of concern of exposing themselves to greater risk. SBA’s resources partners and district offices have trained experts who can help craft a plan specific to your situation to help navigate any rapid changes in demand.
• Marketing. It’s critical to communicate openly with your customers about the status of your operations, what protective measures you’ve implemented, and how customers will be protected when they visit your business. Promotions may also help incentivize customers who may be reluctant to patronize your business.
• Plan. As a business, bring your staff together and prepare a plan for what you will do if the incident worsens or improves. (More information on how to create a business continuity plan is located further down this page.) It’s also helpful to conduct a tabletop exercise to simulate potential scenarios and how your business management and staff might respond to the hypothetical scenario in the exercise. For examples of tabletop exercises, visit FEMA’s website.

Access to capital

The U.S. Small Business Association provides a number of loan resources for small businesses to utilize when operating their business. More information on loans or how to connect with a lender is available on the SBA website.

Access to lending partners

The U.S. Small Business Association (SBA) has developed Lender Match, a free online referral tool that connects small businesses with participating SBA-approved lenders within 48 hours.

7(a) program offers loan amounts up to $5,000,000 and is an all-inclusive loan program deployed by lending partners for eligible small businesses within the U.S. States and its territories. The uses of proceeds include: working capital; expansion/renovation; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business.

• Express loan program provides loans up to $350,000 for no more than 7 years with an option to revolve. There is a turnaround time of 36 hours for approval or denial of a completed application. The uses of proceeds are the same as the standard 7(a) loan.
• Community Advantage loan pilot program allows mission-based lenders to assist small businesses in underserved markets with a maximum loan size of $250,000. The uses of proceeds are the same as the standard 7(a) loan.
• 504 loan program is designed to foster economic development and job creation and/or retention. The eligible use of proceeds is limited to the acquisition or eligible refinance of fixed assets.
• Microloan program involves making loans through nonprofit lending organizations to underserved markets. Authorized use of loan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). The maximum loan amount is $50,000 with the average loan size of $14,000.

Business Continuity Plans

Every business should have an emergency plan to ensure that its resources aren’t overwhelmed in times of need, and that their customers will continue to receive products or services on time. Additionally, costs can add up if the business is forced to close for an undetermined amount of time.

Businesses who are prepared with a plan can resume service faster, and might be able to assist with community recovery.

Elements of a Business Continuity Plan

• Determine and document which staff, materials, procedures, and equipment are absolutely necessary to keep your business operating.
• Identify and document your suppliers, shippers, and other important resources.
• Define and document crisis management procedures and individual responsibilities in advance.
• Plan for your building or brick-and-mortar location to be inaccessible.
• Plan for payroll continuity.
• Include employees from all levels in your planning, to ensure that it makes sense from all perspectives, from front-line to management.
• Keep both digital and physical copies of important records – lease agreements, insurance policies, employee contract and identification information, bank account records, etc. – in multiple secure locations.
• If your business is a multi-tenant building or complex, consider working with neighboring businesses to share resources and create a continuity plan that covers all of your needs.

Learn more about creating a continuity plan by viewing FEMA’s Business Continuity Guide.