Waunakee Community Bank

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COVID-19 UPDATES

Routing Number: 075912275

COVID-19 Disaster Relief

We are partners together, dealing with the COVID-19 pandemic. We have made it a priority to help mitigate the negative impact it may be having on your business.

Our team of commercial bankers has identified incoming funding programs below that might assist you if or when your business needs a capital injection and/or cashflow relief.

SBA’s Coronavirus Disaster Relief Recovery Lending

Background

Legislation is moving through Congress that will soon award the United States Small Business Administration (SBA) $50 billion for disaster loan funding applicable to businesses that reside in designated states and territories.

Governor Tony Evers has requested that the state of Wisconsin be declared a disaster zone, thus becoming eligible for such funding. It is anticipated that Wisconsin will be designated as such, providing local business owners with the eligibility to apply for an Emergency Economic Relief Loan from the SBA.

Applying directly through the SBA is the most time efficient method to obtain funding for such relief.

Highlights


Wisconsin Economic Development Corporation $20,000 Grants

Background

The WEDC will be offering up to $20,000 in grants to businesses through its new Small Business 20/20 program. Business owners seeking such grants will need to apply through their local Community Development Financial Institution (CDFI).

Highlights


Small Business Interruption Loans

Background

The United States Senate is currently in negotiations with the United States House of Representatives to create a $300 billion fund to enable business owners with less than 500 employees to fund 100% of six weeks of payroll not to exceed $1,540 per week per employee.

Highlights

This program is not yet finalized thus the application process has yet to be released.

As more details of this program are announced we will share them with you and are prepared to assist you in the application process.


Conclusion

Our WCB commercial bankers are ready to assist you in the application process of the above funding options. We will also keep you posted on the progress of these initiatives along with information about any other economic relief strategies yet to be released by our local or federal government. Due to the low interest rates, potentially quick turnaround times, and attractive terms available through these options, we ask that you partner with us on working through these solutions as your first financing options.

Our fundamental mission to serve clients, support colleagues, and invest in our communities remains our primary focus during this time. We are grateful to our valued clients for giving us the opportunity to be a partner to their businesses through this crisis.

For more information, contact your Waunakee Community Bank loan officer.