Editor’s note: Our Posts from the Community feature is a platform for community announcements and event postings. If you have a post to be considered, send it to firstname.lastname@example.org or submit it directly.
Brew City Match to Provide Disaster Assistance Loans & Grants
Brew City Match partners recognize that small business are vital to our neighborhoods, and are an economic engine for our City. As a response, our partners have developed two resources for small business owners located within the Brew City Match program area. This includes the Cesar Chavez Drive, Historic King Drive, Near West Side, and North Avenue/Fond du Lac Marketplace Business Improvement Districts, and the neighborhoods directly around those corridors.
Triciclo Peru, located at 38th & Vliet, received an emergency grant and small business loan through Brew City Match. Mario Diaz Herrara and Amy Narr shared, “Programs like Brew City Match have been amazing- the process was easy, quick, and efficient. This was great because we are working to understand how we can adapt our business while also trying to understand what is available for support. The grant was essential, and the loan process was incredibly easy.”
Funding for the Brew City Match Disaster Loans and Grants are made possible by our partners at JPMorgan Chase and the Greater Milwaukee Foundation.
Ethnic Minority Emergency Grant
To help ethnic minority-owned micro-businesses cope with the economic impact of COVID-19, the Ethnic Minority Emergency Grant Initiative is being launched with a total of $2 million to be made available to 1,000 Wisconsin micro-businesses. A business may apply for a one-time grant of $2,000 for short-term operations assistance through Wisconsin’s Collective Ethnic and Diverse Organizations. Applicants will be subject to underwriting, and grant recipients will be required to submit a report indicating how the funds were used. Applications will be accepted from May 18-24, 2020.
SBA Payment Protection Plan (PPP)
Passed in the CARES Act, PPP is designed to keep your workers on payroll and your doors open. If employees are kept on payroll for eight weeks, the SBA will forgive the portion of your loan used for payroll, rent, mortgage interest and utilities. Loans can be up to $10 million and up to 100 percent forgivable.
LISC is offering these loans through our affiliate, immito, a licensed 7a lender, and have capacity to serve minority- and women-owned businesses, veteran-owned businesses and nonprofits in our service area.
Please contact Sue Eick, LISC Milwaukee at email@example.com if you are interested.