News Flash Home
The original item was published from 3/20/2020 12:34:00 PM to 4/8/2020 3:20:40 PM.

News Flash

Village News

Posted on: March 20, 2020

[ARCHIVED] COVID-19 Economic Assistance

Information

COVID-19 - ECONOMIC ASSISTANCE

The Village of Cottage Grove is striving to stay abreast of the ever changing programs available at the federal and state level to assist businesses and individuals with the economic impacts of the COVID-19 virus. We will update this page with programming information that may benefit those in the Village.

Last updated: March 20, 2020

 

BUSINESS ASSISTANCE

Federal

U.S. Small Business Administration (SBA) - Disaster Loan Assistance

The State of Wisconsin is in the process of becoming an eligible area for disaster loan assistance. Phase 1 of the COVID-19 stimulus package made $1 billion available for small businesses in eligible areas. The phase 3 stimulus package is currently being negotiated at the federal level, and it is expected to dramatically increase the amount of funding available. As soon as Wisconsin becomes eligible, we will update this page with links to the application process. Assistance takes the form of a long-term, low interest loan to be used for capital needs and normal business operating expenses through the recovery period, up to $2 million.

Visit the SBA website for more information: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Internal Revenue Service (IRS) – Tax Deadline Moved to July 15, 2020

The IRS has moved the federal tax deadline from April 15, 2020 to July 15, 2020. If you expect a refund you are encouraged to file sooner to receive the refund more quickly.

Visit the IRS website for more information: https://www.irs.gov/coronavirus

 

State of Wisconsin

Wisconsin Economic Development Corporation (WEDC) – Small Business 20/20 

The WEDC has launched an initial program for assisting eligible small businesses. WEDC is making $5 million available to Community Development Financial Institutions (CDFI) to distribute grants to existing clients. CDFI’s are lenders who work with underserved communities. Local examples include Forward Commercial Investments, Habitat for Humanity of Dane County, and the Wisconsin Women’s Business Initiative Corporation. If you are already a client of these or other CDFI’s you should contact the CDFI directly to determine eligibility. Not all CDFI’s may participate and the final list of those that are has not been released. Assistance via this program comes in a grant of up to $20,000 targeted to businesses with less than 20 employees and less than $2 million in annual revenue to cover rent and payroll expenses.

We will update this page as additional resources are released to the WEDC or other State agencies for additional assistance programs.

Visit the WEDC website for more information: https://wedc.org/programs-and-resources/covid-19-response/

Local

Cottage Grove Chamber of Commerce

As always, the Cottage Grove Chamber of Commerce is your source for local business information. Follow them on Facebook for the latest news and information.

Visit the Cottage Grove Chamber of Commerce website for more information: https://www.cottagegrovechamber.com/


INDIVIDUAL ASSISTANCE

Federal

Direct payments 

It appears likely that the Phase 3 stimulus package will include direct payments to taxpayers. Phase 3 is still being negotiated and proposed amounts vary. We will update this page as details become available.

Fannie Mae and Freddie Mac Mortgage Assistance

If your mortgage is owned by Fannie Mae or Freddie Mac, resources are available including delayed payments, waiving of late fees, or other assistance.

Visit the Fannie Mae website for more information: https://www.fanniemae.com/portal/covid-19.html

Visit the Freddie Mac website for more information: http://www.freddiemac.com/about/covid-19.html

Internal Revenue Service (IRS) – Tax Deadline Moved to July 15, 2020

The IRS has moved the federal tax deadline from April 15, 2020 to July 15, 2020. If you expect a refund you are encouraged to file sooner to receive the refund more quickly.

Visit the IRS website for more information: https://www.irs.gov/coronavirus

 

State of Wisconsin

Dept. of Workforce Development – Unemployment Benefits

Visit the Dept. of Workforce Development website for additional information or to apply for benefits: https://dwd.wisconsin.gov/uiben/apply/


Local

United Way of Dane County – COVID 19 Emergency Recovery Fund

United Way of Dane County is coordinating the local COVID 19 Emergency Recovery Fund to assist those disproportionately affected by the virus. They are also seeking donations and volunteers.

Visit the United Way of Dane County website for additional information: https://www.unitedwaydanecounty.org/united-way-of-dane-county-covid-19-response/


Facebook Twitter Email

Other News in Village News

Cottage Grove HHW Event 2024

Household Hazardous Waste Disposal Event

Posted on: February 8, 2024
Ivy

Rain Barrel Sale

Posted on: February 6, 2024
Alternate Side Parking

Alternate Side Parking

Posted on: November 26, 2023