• The Wisconsin Economic Development Corporation (WEDC), which was approved to provide “Small Business 20/20”  loans of up to $20,000 to cover two months of payroll an rent expenses for small businesses (20 or fewer employees and less than $2 million in annual revenue) has finally just released their list of Community Development Financial Institutions (CDFI’s), who are the ones approved to make program grants available to businesses that are current loan recipients with the CDFI. While the program currently has only $5 million total in funding, the WH&LA , WRA, AWTA, and others have jointly been asking the Governor and the legislature to approve a significant increase. The Governor has proposed total funding of $150 million, and the legislature is considering this and other business assistance to help with the impact of COVID-19. Eligible interested Small businesses are encouraged to start the process through their CDFI soon as the demand will far outweigh the funding and if the total available increases, those in the pipeline would be ready.

• Wisconsin Income Tax deadlines for filing returns and making payments (including estimated income tax payments) were officially extended to July 15. This covers individuals, partnerships, associations, companies, and corporations, however interest and penalties will begin to accrue on July 16 if payments are not made by July 15. 

• The new Small Business Administration (SBA) “Payment Protection Program (PPP) Loans” opened up for applications starting on April 3, however numerous questions and clarifications were still being sought before those interested would move forward with a SBA 7(a) lender. A one-page overview of the Program outlines how this program provides small businesses (less than 500 employees per location) with funds to pay up to 8 weeks of payroll costs including benefits, along with specified other uses. Just released late yesterday, the SBA issued an updated Paycheck Protection Program Loans FAQ, which addresses some of the questions lodging employers have about the program, with other questions still pending an answer.

•  A Free STAR Report for current non-participants, to help them to know more about the impact on their property and market. Sign Up 

• A free series of industry webinars discussing the impact of COVID-19 on U.S. Hotel performance. These are held weekly on Thursdays at 2:00 pm Central time, with updates from the prior week. Their COVID-19: Hotel Industry Impact website provides recordings from prior webinars, recent articles, and the opportunity to sign up for the free webinars.