City Of Wauwatosa Offers Support To Small Businesses

Press release from the City of Wauwatosa:

3/31/2020 - 8:21 AM

To help small businesses deal with the impact of COVID-19, the Wauwatosa Community Development Authority and Wauwatosa Revolving Loan Fund Corporation have created the following opportunities:

1. Emergency COVID-19 Small Business Support - a forgivable loan covering 50% of non-payroll expenses, including rent/mortgage payments and utilities over a two month period, up to a maximum of $7,500. Funds can be used to cover any business expenses at its Wauwatosa business location. The loan will be forgiven six months after government quarantine is lifted. Repayment will be required in the event of fraud, misrepresentation, or cessation of business operations. See more information and download the application.
2. Employee Retention Short Term Working Capital Loan Program - a working capital loan up to $20,000 to cover existing business expenses impacted by COVID-19. Loan payments are deferred for the initial six months, and the loan will not accrue interest for the initial six months, after which time interest will accrue on the unpaid balance at the rate of two percent per year. Read the qualifications and download the application.

For each program, applicants must meet certain criteria and will submit financial documentation.

This press release was produced by the City of Wauwatosa. The views expressed here are the author’s own.