Resources for Granville Entrepreneurs

  1. Self-Help Credit Union is seeking to get more loans approved in Milwaukee for for-profit and non-profits. If you know of organizations or businesses that applied and did not receive or need to apply, please connect with Margaret Henningsen at Forward Community Investments ( or 414.510.7000) and she will help pave the way!
  2. The Payroll Protection Program (P3) approved $310 billion, with potential set-asides for smaller organizations. Here’s what you need to do.
    • If you’ve already started your application, or you feel ready to start one right now.
      While we can make no guarantees, we strongly encourage you to complete your loan application now in the event additional funds do become available. That should ensure faster response should Congress increase P3 funding.
    • If you’re not sure about the program, or haven’t gathered the necessary documents.
      The last round of funding was exhausted in less than 2 weeks, and we anticipate that demand will remain high. Start getting ready now so you can begin and complete your application as soon as possible.
    • If you’ve already been approved or received funding.
      You’re not done. Properly managing your P3 loan will ensure it becomes “forgiven” – in other words, the loan becomes a grant. Fiscal Management Associates, a long-time IFF partner that specializes in nonprofit finances, is providing webinars and resources specifically on this topic.

What is P3?

The Payroll Protection Program — sometimes called PPP or P3 — is essentially a cash-flow assistance program guaranteed by the federal government. Here are the bullet-points:

  • These are largely “forgivable loans” – which basically means they could turn into grants if you cover eligible expenses.
  • Loans are available to businesses with up to 500 employees
  • Loans are for up to $10 million
  • Loans are designed to cover costs related to payroll, operations, rent, utilities, and interest on debt
  • Collateral and personal guarantees are not required
  • Loans are available through SBA-qualified lenders (our partner CRF is qualified)

The P3 holds a lot of promise – and we are here to try to help ensure that promise is fulfilled. Importantly:

  • You do not need to be an existing borrower to apply – Tell your friends!
  • We welcome smaller loan applications
  • Unfortunately, if you’ve already submitted an application with another financial institution, you cannot again. If multiple applications are submitted, it might disqualify your application.


The U.S. Chamber of Commerce Foundation has created the Save Small Business Fund– a grantmaking initiative funded by contributions from corporate and philanthropic partners. They are providing $5,000 in short-term relief to employers across the United States. These one-time supplemental cash grants are for businesses that have between three and 20 employees and operate in an economically vulnerable community.

Eligibility and Timeline:

  • The application will go live on 4/20/20 at 12:00 PM PT/3:00 PM ET.
  • Visit for more details and to get an email reminder when the application launches.
  • To qualify, a business must:
    • Employ between 3 and 20 people (not including independent contractors)
    • Be in an economically vulnerable community (This is defined as the bottom 80% of the most economically distressed zip codes in the United States, as ranked by the Distressed Communities Index. Before starting the application, the employer will be asked for the zip code where they are registered by the IRS as doing business, which will confirm eligibility.)
    • Have been harmed financially by the COVID-19 pandemic
    • Grants will be distributed on a weekly, rolling basis until all funds have been allocated.

To learn more about the Save Small Business Fund and to apply for a grant, visit


Applicants may apply for one business only and must be 18 years of age to apply. For business owners with multiple businesses, please complete this application based on your largest business owned. Each grant is limited to one individual/business.

Awards will be made to qualified businesses, and eligibility is based on accurate and complete submission. Priority will be given especially to entrepreneurs of color, women- and veteran-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital.

All awardees will have to certify that they are promoting the best interests of the community and are negatively impacted by the Covid-19 crisis.

Non-profit organizations are ineligible for this particular pool of relief funding. Be sure to check LISC’s Covid-19 Resource Page: for the latest resources available to nonprofit organizations and individuals.

THE WWBIC COVID-19 FAST TRACK LOAN PROGRAM is focused on existing businesses looking for business financing during COVID-19. Business owners have two options to pick from depending on their needs: a line of credit or a term loan.


  • Minimum of $5,000. Maximum of $10,000.
  • Term of 12 months
  • Line of credit can be renewed for a 1% fee charged at the time of renewal
  • Line of credit can be modified to a 48 month term loan at no cost only after the initial 12 month interest only period
  • Interest Rate: 9.25%
  • SPECIAL: No collateral needed to qualify. WWBIC will still require the business to grant an all assets lien on its personal property, and WWBIC will file a UCC financing statement against the business in state records.


  • Minimum of $5,000. Maximum of $15,000.
  • Term of 60 months
  • Client makes interest only payments for the first 12-months; for the remaining 48 months, the loan is fully amortized (Amortized payment will be approximately $350 per month on $15,000)
  • Interest Rate:
    • Existing WWBIC Clients = 4.50%
    • Returning WWBIC Clients= 4.50%
    • New Clients = 5%
  • SPECIAL: No collateral needed to qualify.
  • WWBIC will still require the business to grant an all assets lien on its personal property, and WWBIC will file a UCC financing statement against the business in state records.


As with other WWBIC loans, fees are approximately 5% and can be financed from the loan proceeds. The $75 non-refundable application fee is included in the 5%. The $75 application fee is due at the time of application and can be paid with a credit card.

Go to WWBIC’s Loan Application to apply. For the question “How did you hear about our program?” on the Client Information section, please answer “WWBIC COVID-19 Line of Credit” or “WWBIC COVID-19 TERM LOAN” respectively.

The Hmong Wisconsin Chamber of Commerce (HWCC) has announced a new Emergency Loan Fund (COVID-19) in response to the negative impact that Coronavirus (COVID-19) has had on the Wisconsin business community. These funds are primarily used for working capital to cover rent, payroll, and other fixed expenses. This loan fund is similar to HWCC’s existing Revolving Loan Fund (RLF) Small Loan programs but with a slightly lower rate and an interest-only option for the first 3 months. Loans from $5,000 and up to $10,000. For more information about terms and interest rates, please contact HWCC Operations Manager, Ger Thao:

Kiva Loans
Kiva has expanded small business lending on its online platform to include a larger list of eligible businesses, the possibility for larger loans, and a grace period for repayment.  Learn more here (or visit the dedicated pages for applicants in Milwaukee or applicants in Madison).


Small business owners affiliated with the African American Chamber of Commerce of Wisconsin, the Hispanic Chamber of Commerce of Wisconsin, the American Indian Chamber of Commerce of Wisconsin, and the Hmong Wisconsin Chamber of Commerce can contact these chambers directly for assistance. MUST BE A MEMBER FOR THESE PROGRAMS.

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