Emergency Relief For Businesses
Concerned about cash flow or payment issues for your business? We’re here to help! We value our Business Members and the relationships we build. Please contact your Business Loan Officer to discuss personalized options available to you. We will provide guidance to you and discuss your options. Contact your Business Loan Officer, call 800-341-9911, ext. 3001, or email us to discuss options for your business.
Please note: due to the large number of Members inquiring about these programs, we are experiencing longer than normal response times. We are committed to being here for you and appreciate your patience while we work to help everyone as quickly as possible. Thank you for your understanding.
CARES Act Update
Congress passed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) to help assist individuals and businesses affected by the COVID-19 Pandemic. The CARES Act includes many different provisions, including SBA Economic Injury Disaster (EID) loans with forgivable advances of $10,000 and the SBA Paycheck Protection Program. You can apply directly with the SBA for the EID loan right now. See the link below. We will have updates regarding the Paycheck Protection Program soon. Royal Credit Union has other relief offerings of its own available right now. Please review the information below or contact us for more information on these programs. Thank you for your patience and understanding as we work through this together.
$10,000 Advance Now Available with SBA Disaster Loans
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan (EIDL) advance of up to $10,000 available through the U.S. Small Business Administration. For step-by-step instructions on how to apply, follow these guidelines provided by the US Chamber of Commerce click here. To be eligible for EIDL assistance, small businesses or private non-profit organizations must have sustained economic injury and be located in a disaster declared county or contiguous county.
National Business Resources
- SBA Coronavirus Disaster Loans
- SBA Disaster Assistance One-Pager
- U.S. Small Business Administration Disaster Loan Program
Minnesota Business Resources
- Midway Chamber of Commerce COVD-19 Resources
- Minnesota Chamber of Commerce COVID-19 Business Tool Kit
- Minnesota Employment & Economic Development - Information & Resources for Employers
- Minnesota Employment & Economic Development - Information for Employees & Unemployed
- Minnesota State Sales & Use Tax Extension
- State of Minnesota Emergency Executive Order 20-04
Wisconsin Resources:
- Chippewa Valley Business Community COVID-19 Facebook Group
- DECI Eau Claire Coronavirus Aid Package Information
- Volume One Save your Faves – Restaurants, Bars & Retailers
- WEDC Rising To Challenges Navigating Through COVID-19 In Wisconsin
- Wisconsin Economic Development Corporation COVID-19 Business Resources
Chamber of Commerce Resources:
- Bloomer Chamber Businesses Closures and Altered Hours
- Chippewa Falls Chamber COVID-19
- Eau Claire Chamber Resources for Area Businesses and Community Members
- Edina Chamber COVID-19 Info and Resources for Business
- Hudson Chamber Update Facebook Page
- Menomonie Chamber Business Resources
- New Richmond Chamber COVID-19 Updates
- Osceola Chamber Small Business Resources
- River Falls Chamber Coronavirus Business Resources
- Somerset Chamber COVID-19 Work and Business Resources
- St. Paul Chamber Critical Resources