Businesses Damaged by July Storms May Be Eligible for WEDC's Microloans
Friday, August 23rd, 2019 -- 12:45 PM
(WRN) -Businesses that were damaged in last month's storms may be able to get some help from the Wisconsin Economic Development Corporation.The Wisconsin Economic Development Corporation will be distributing a million dollars in loans to companies and businesses affected by last month's severe weather. WEDC vice president Mary Gage says these loans are designed to help get businesses back on their feet until full disaster relief comes.
"That could be their building, their inventory, their belongings. If there's flooding in their basement and everything's floating. If they're displaced for a little bit of time."
Gage says that's to ensure that Wisconsin businesses stay open and employees aren't laid off.
"And what we're trying to do is provide them some immediate funding so that they can do some of their necessary restoration and operations until long term recovery funding can be secured."
Gage says the micro loans are designed to make sure that companies can stay in business before long term relief comes.
"We want to help these businesses when something unforeseen impacts them. We want to keep them going and keep the employees employed."
If you think you qualify for a loan, head to W E D C dot org slash Disaster Recovery and sign up, or contact your local WEDC planning office.
Feel free to contact us with questions and/or comments.