WIS LEG Disaster Loan Availability

On Feb. 20, WIS LEG reported disaster loans available for mild winter.

  • WIS LEG reported disaster loan availability for areas impacted by lack of winter snow.
  • Lack of snow impacted travel and recreation businesses that depend on it for activities.
  • SBA Loan Eligibility
  • SBA confirmed that they will consider business loss from recent low snowfalls over the winter months in some areas to be related to the drought and eligible for assistance.
  • Economic losses occurred due to impacted travel and recreation businesses that depend on it for downhill and cross-country skiing, snowshoeing, and snowmobiling.
  • Many counties are covered by a pre-existing USDA disaster designation for drought and can seek emergency assistance to offset business loans if related to the drought.
  • Impacted businesses in counties with a drought declaration can apply for the economic impact disaster loans (EIDL), to help with emergency situations that impact them.
  • Application Dates
  • The notice listed 62 counties with applications due dates in Apr., May and Jul. 2024.
  • Feb. 21, 2024 WIS LEG Additional Counties
  • On Feb. 21, 2024, WIS LEG governor Evers announced 3 more counties are eligible for SBA Economic injury disaster loans (EIDL) in response to below-average snowfall.
  • The counties that are loan-eligible: Florence County, Marinette County, Buffalo County.
  • After SBA low snow drought analysis, said counties may be able to offset business loss
  • Deadlines as follows, Buffalo county, Apr. 29, Florence and Marinette, Jul. 3, 2024.
  • Mar. 7, 2024 WIS LEG Timeline Extension
  • On Mar. 7, 2024, WIS LEG reported that the application deadline to file for disaster loans was extended to Jul, 31 for the majority of counties eligible for disaster relief.
  • Extension does not apply to Buffalo County, covered in a Minnesota-based declaration.
  • Counties under Declarations 18019, 18058, 18085, 18135, 18166, 18168, and 18231.

Regulators WIS LEG
Entity Types Corp
Reference PR, 3/7/2024; PR, 2/21/2024; PR, 2/20/2024;
Functions BCS; Compliance; Financial; Legal; Operations
Countries United States of America
Products Corporate; Loan; Payments
Regions Am
Rule Type Final
Rule Date 2/20/2024
Effective Date 7/31/2024
Rule Id 201696
Linked to N/A
Reg. Last Update 3/7/2024
Report Section US Investment

Last substantive update on 03/12/2024