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Business Disaster Relief Resources

Bank of Sun Prairie is providing this resource list as a service to our customers. Let us know if and how we may help you during this time. You can reach us at 608.837.4511 or via [email protected]. To find one of our business bankers directly, click here.

Enter PPP Loan Portal


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U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP)

***MARCH 3rd UPDATE***

On Wednesday, March 3, SBA released a new Interim Final Rule (IFR) to provide guidance on the previously announced program changes to target smaller businesses. The IFR included the new loan amount calculations for Schedule C filing borrowers. Changes were also made to eligibility questions. Specifically:

  • Certain applicants who file an IRS Form 1040, Schedule C can now calculate their maximum loan amount using gross income (line 7) instead of net profit (line 31).
  • The eligibility restriction that prevents applicants who have non-financial fraud felony convictions in the last year from obtaining a PPP loan has been removed.
  • The eligibility restriction that prevents businesses with owners who are delinquent or in default on their Federal Student loans from obtaining PPP loans has been removed.

The full IFR can be found here.



On Monday, February 22, the Biden Administration announced changes to the PPP with the goal of promoting equitable access to the program for small business relief. These changes were outlined in a White House Fact Sheet which can be found here.

So, from February 24 through March 9, SBA only accepted applications from borrowers with fewer than 20 employees. A borrower must have counted all employees regardless of whether they are full-time, part-time, or seasonal. Unlike other aspects of PPP, this threshold is a headcount threshold, not an FTE number.

Bank of Sun Prairie still accepted all applications during this time and submitted applications on March 10 or after if the borrower has 20 or more employees.


On Monday, December 28, President Trump signed a $900 billion COVID–19 relief bill, which includes funding for a third round of Payment Protection Program (PPP) loans. PPP authorizes forgivable loans to small businesses to keep their workers on payroll during the COVID-19 crisis. Funds can also be used to pay interest on mortgages, rent, and utilities. The loan is done through the Bank of Sun Prairie with the SBA providing a 100% guaranty and means of forgiveness.

Fully Forgiven

Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities and meet all other program parameters. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Program open to both first-time PPP borrowers as well as a second draw for existing PPP borrowers

First-time PPP loans available to small businesses with 500 or fewer employees, including most nonprofits, as well as self-employed individuals, sole proprietorships, and independent contractors in operation on February 15, 2020.

  • Loan amount equal to 2.5 times average monthly payroll, up to $10MM
  • Eligible payroll costs expanded to include worker PPE costs, supplier costs, and property damage costs not covered by insurance
  • Eligible businesses expanded to include 501c6 organizations, certain news organizations, and housing cooperatives
  • Forgiveness amount no longer reduced by any EIDL advance amount received by the applicant

Second-draw PPP loans are available to existing PPP borrowers with 300 or fewer employees who can demonstrate a 25% or more reduction in gross receipts from 2019 to 2020.

  • Loan amount equal to 2.5 times average monthly payroll OR 3.5 times average monthly payroll for borrowers in the hospitality or food service industry (NAICS beginning with 72), up to $2MM
  • 25% reductions calculated as follows:
    • For those in business all of 2019 – 25% reduction in any 2020 quarter compared to same 2019 quarter OR 25% reduction in annual sales 2019 to 2020
    • For those not in business Q1 or Q2 of 2019 – 25% reduction in any 2020 quarter compared to either Q3 or Q4 of 2019
    • For those not in business Q1, Q2, or Q3 of 2019 – 25% reduction in any 2020 quarter compared to Q4 of 2019
    • For those not in business in 2019 but operating on or before 2/15/20 – 25% reduction in Q2, Q3, or Q4 of 2020 compared to Q1 of 2020

Enter PPP Loan Portal


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U.S. Small Business Administration (SBA) Shuttered Venue Operators Grant (SVOG)

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes more than $16 billion in grants to shuttered venues and administered by SBA’s Office of Disaster Assistance. The grant provides emergency assistance for eligible venues affected by COVID-19.  This program is administered directly through the SBA.

Eligible applicants may qualify for grants equal to 45% of their gross-earned revenue with the maximum amount available for a single grant award of $10 million. Two billion dollars is reserved for eligible applications with up to 50 full-time employees.

For eligibility requirements and further program details, visit

SBA will begin accepting applications Thursday, April 8 at the above website.

U.S. Small Business Administration (SBA) Economic Injury Disaster Loans and Advance

SBA’s EIDL program offers long-term, low-interest assistance for a small business or nonprofit. These loans can provide vital economic support to help alleviate the temporary loss of revenue. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. This program is administered directly through the SBA.


  • The SBA is offering low-interest federal disaster loans for working capital to small businesses and nonprofit organizations that are suffering substantial economic injury as a result of COVID-19 in all U.S. states, Washington D.C., and territories.
  • These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan. The interest rate is 3.75% for small businesses. The interest rate for nonprofits is 2.75%.
  • To keep payments affordable for small businesses, SBA offers loans with long repayment terms, up to a maximum of 30 years. Plus, the first payment is deferred for one year.

Additionally, on March 5, 2021, SBA announced they would be launching a new round of EIDL Advances – called Targeted EIDL Advances – which provide eligible businesses with up to $10,000 in total grant assistance. Advance funds will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding. Applicants do not need to take any action at this time. SBA will reach out to those who qualify.

For more info and to apply, visit

Dane County Small Business Grant Program

The Dane County Small Business Pandemic Support Grant Program, administered by Dane Buy Local, is available for small businesses experiencing financial difficulties as a result of the COVID-19 outbreak.

On March 25, Dane County and Dane Buy Local announced a new round of grant funds would be available for local businesses soon.  They hope to have the application open by mid-April. 

More information and updates can be found at                    

Kiva Greater Madison

Kiva Greater Madison provides zero-percent interest capital to local small businesses with no fee. For businesses that need $15,000 or less immediately, Kiva is a no-cost option with an easy, low-barrier-to-entry application process. Learn more at

Sun Prairie Small Business Emergency Loan Fund

The Sun Prairie Small Business Emergency Loan Fund is designed to provide critical financial assistance to qualified small businesses that have been negatively impacted by the COVID-19 pandemic. Funds from the City of Sun Prairie, the Sun Prairie Chamber of Commerce, the Sun Prairie Business Improvement District and Bank of Sun Prairie have been pooled to create this fund.  It is specifically meant to be leveraged with other federal and local programs.

Applicant Eligibility:

Eligible applicants include private, for-profit small businesses of 25 or fewer employees. Businesses must demonstrate that 1) the business was financially viable before Coronavirus, 2) that Coronavirus has directly impacted the business, and 3) that this assistance is likely to keep the business solvent.   

Eligible Uses of Funds:

  • Rent costs not covered by PPP
  • Utilities cost not covered by PPP
  • Other Business-Related Loan Payments or Leases not covered by PPP
  • Insurance
  • Personal Protective Equipment
  • Cleaning Supplies
  • Lost Inventory
  • Other operating costs directly related to the business may be considered by the oversight committee at their sole discretion depending upon the number of applications received, the purpose of requested funds, and the availability of funds.

Loan Highlights:

  • Loan amount up to $5,000
  • Interest rate fixed at Prime at time of approval
  • Payment period begins 90 to 180 days after loan approval; monthly payments for one to two years thereafter
  • No prepayment penalty

For more information, application and submission instructions, visit

WWBIC Fast Track Loans

The Wisconsin Women’s Business Initiative Corporation (WWBIC) has created a new Fast Track loan program focused on existing businesses looking for financing during the COVID-19 outbreak. Business owners can choose either a line of credit or a term loan, depending on their needs.

The line of credit is for between $5,000 and $10,000 for a 12-month term with a 9.25 percent interest rate. The term loan is for between $5,000 and $15,000 for a 60-month term with an interest rate of 4.5 or 5 percent. There is no collateral needed to qualify for either option.

You can find additional details and the application here.


Disclaimer: This list is not definitive, more funds and resources are becoming available all the time. We will do our best to update this list as more information becomes available. Bank of Sun Prairie makes no representation regarding the likelihood of success in receiving any of the funds or loans listed above, and for full application material, conditions, and eligibility you must check and apply directly with the organizations providing the resources.

Our lobbies remain closed to align with the Dane County Public Health Order. Our drive-thrus at all locations and the walk-up at Main Street are open. Sign in to Online and Mobile Banking for 24/7 easy access. Call 608.837.4511 or email [email protected]