Relief Business Plan

At Wise, we know that business will be different for the next 24 months due to the strain COVID-19 has placed on the world’s economy. Therefore, we are here to assist with any questions you have along the way regarding your small business funding options.

In return, once you receive funding, we can help create your Relief Business Plan.

The Relief Business Plan will focus on how your business will use the funding and cash on hand to make it through these next 24 months. The focus will be heavy on the business financials, cutting or increasing costs, marketing and reallocating resources.

The Relief Business Plan is about 25-30 pages in length, including color charts and graphs, and consists of two years of financial projections.

Wise Business Plans is here to help! If your business needs assistance with navigating the process required to qualify for and receive an Economic Injury Disaster Loan through the SBA, please CONTACT US TODAY  by completing the form below, so we can help you through the process.


As of April 14, 2020

Good news, we can ALL use.

As you may have heard, for those who have their account number listed with the IRS, Individual Stimulus Check are hitting checking accounts across the nation. If not don’t worry, the the paper checks are being processed now as well.

More positive news, the Paycheck Protection Program (PPP) is also hitting small business checking accounts this week. Businesses who have received the PPP funding first, are those who have been contacted directly by their primary business bank.

If you have not been contacted by your bank please refer to the following SBA EIDL:

Expanded access to U.S. Small Business Administration Economic Injury Disaster Loans 

Link to Apply: Click Here

Learn More: Click Here


As of April 3, 2020

Understanding Your Options: COVID-19 Relief

The stimulus bill passed by Congress and signed by the President last week contains a number of opportunities for businesses to receive financial support if their operations are impacted by COVID-19. We wanted to offer some special information on a couple of the options being provided to struggling small businesses in the United States.

The SBA has set today (Friday, April 3) as the day for banks to rollout the Paycheck Protection Program for funding relief. The application window for receiving assistance as a freelancer, sole proprietor or independent contractor opens April 10.

Read below for additional information and links related to available assistance. And remember: We’re always here to help, and we’re always on your side.

1). Paycheck Protection Program


You can borrow 2.5 times your average monthly payroll, which includes salary, payroll taxes, owner’s draw, group health insurance, paid sick leave, vacation and 1099 workers.


  • Salaries up to $100,000
  • Paid vacation & sick leave
  • Retirement benefits
  • Health insurance
  • State and local taxes
  • Owner’s draw up to $100,000/yr
  • Independent contractor up to $100,000/yr

The Paycheck Protection Program (PPP) offers funds to assist with many of the expenses related to running a small business, and some portions of the loan do not need to be repaid in certain circumstances. Below are links to four initial documents provided by the U.S. Treasury:

The documents above can also be found at below the Assistance for Small Businesses heading. The SBA website is the best place to go to find the most up-to-date information on the program.

A few notes of mention:

  • In addition to the payroll stipulation, “funds can also be used to pay interest on mortgages, rent and utilities.”
  • Included in those eligible are self-employed individuals, sole proprietorships and independent contractors.
  • All existing SBA-certified lenders will be given delegated authority to speedily process PPP loans. Check with your bank!

2). Economic Injury Disaster Loans & Emergency Economic Injury Grants

These grants provide an emergency advance of up to $10,000 to qualified applicants who apply for an SBA Economic Injury Disaster Loan (EIDL).

The advance does not need to be repaid under any circumstance, and reasons for use include payment of business obligations, including debts, rent and mortgage payments. Please learn more here.

Find out more by downloading the Small Business Owners Guide to CARES Act or visiting

As of March 27, 2020

Federal Coronavirus Small Business Assistance

Paycheck Protection Loans: The U.S. Small Business Administration (SBA) will guarantee loans with terms of up to 10 years and interest rates of up to 4% to businesses with fewer than 500 employees. Businesses can qualify for loans of up to $10 million, and the loans will be provided by lenders including banks and credit unions. Eligible businesses can get loan deferment for six months to a year, and the loan may be forgiven if the businesses maintains its payroll for eight weeks at employees’ normal salary levels.

Expanded access to U.S. Small Business Administration Economic Injury Disaster Loans: As part of its disaster assistance program, the SBA is providing working capital loans of up to $2 million to small businesses and nonprofits affected by the coronavirus. These loans carry an interest rate of 3.75% for small businesses and 2.75% for nonprofits. Loan repayment terms vary by applicant, up to a maximum of 30 years. The stimulus updated the program so that sole proprietors and businesses with fewer than 500 employees qualify, and applicants don’t need to provide a personal guarantee on loans under 200,000. Payments can also be deferred for up to four years.

Emergency grant of $10,000 to SBA Economic Injury Disaster Loan applicants: Even if your business is denied a loan, you can still access this grant, which can be used to provide employee sick leave, maintain payroll or meet other needs like paying rent.

Federal Income Tax Filing and Payment Deadline Extension

The federal tax return filing deadline is now July 15, 2020. For tax payments of up to $10 million, the IRS has also extended the deadline for both individuals and businesses to July 15, 2020. Estimated tax payments for 2020 originally due on April 15 will now be due on July 15.

Check with your state tax agency to find out if your business has more time to file or more time to pay state and local taxes this year as a result of the coronavirus. Several states have already aligned their tax filing and payment deadlines with the new federal deadline. States also may waive or reduce penalties on late tax payments.

State and Local Coronavirus Small Business Assistance

States and municipalities are adding programs by the day. Check your governor’s website for up-to-date information about relief available in your area. The National Governors Association offers a list of governors’ websites.

As of March 25, 2020

COVID-19 SBA Disaster Loan Assistance

$367B Emergency Coronavirus Relief Package

While Funds are Available – There are 27+ million small businesses in the U.S.

The Loan Process

Apply for Loan (Forms)

  • Apply to the SBA Disaster Loan
  • As a business of any size, you may borrow up to $2 million for physical damage.
  • As a small business, small agricultural cooperative, small business engaged in aquaculture, or private non-profit organization you may borrow up to $2 million for Economic Injury.

 Loan Processing Decision Made

  • SBA reviews your credit before conducting an inspection to verify your losses.
  • An SBA verifier will estimate the total physical loss to your disaster damaged property.
  • A loan officer will determine your eligibility during processing, after reviewing any insurance or other recoveries. SBA can make a loan while your insurance recovery is pending.
  • A loan officer works with you to provide all the necessary information needed to reach a loan determination. Our goal is to arrive at a decision on your application within 2 – 3 weeks.
  • A loan officer will contact you to discuss the loan recommendation and your next steps. You will also be advised in writing of all loan decisions.

Loan Closed and Funds Disbursed

  • SBA will prepare and send your Loan Closing Documents to you for your signature.
  • Once we receive your signed Loan Closing Documents, an initial disbursement will be made to you within 5 days: Physical damage: $25,000 Economic injury (working capital):  $25,000 (In addition to the Physical damage disbursement)
  • A case manager will be assigned to work with you to help you meet all loan conditions. They will also schedule subsequent disbursements until you receive the full loan amount.
  • Your loan may be adjusted after closing due to your changing circumstances, such as increasing the loan for unexpected repair costs or reducing the loan due to additional insurance proceeds.

Forms and Documentation

  • IRS Form 4506-T completed and signed by Applicant business, each principal owning 20% or more of the applicant business, each general partner or managing member and, for any owner who has more than a 50% ownership in an affiliate business. (Affiliates include business parent, subsidiaries, and/or businesses with common ownership or management).
  • Complete copies, including all schedules, of the most recent Federal income tax returns for the applicant business; an explanation if not available.
  • Personal Financial Statement (SBA Form 413) completed, signed and dated by the applicant (if a sole proprietorship), each principal owning 20% or more of the applicant business, each general partner or managing member.
  • Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used). ADDITIONAL INFORMATION THAT MAY BE NECESSARY TO PROCESS YOUR APPLICATION:
  • Complete copies, including all schedules, of the most recent Federal income tax returns for each principal owning 20% or more of the applicant business, each general partner or managing member, and each affiliate when any owner has more than a 50% ownership in the affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management.
  • If the most recent Federal income tax return has not been filed, a year-end profit and loss statement and balance sheet for that tax year is acceptable.
  • A current year-to-date profit and loss statement

Yes, Wise Can help. Contact Us Today for more information.

As of March 17, 2020

About the Coronavirus Preparedness and Response Supplemental Appropriations Act

As part of the U.S. government’s aggressive efforts to preserve the country’s economic integrity during the Coronavirus outbreak (COVID-19) and minimize disruption to the nation’s 30 million small businesses, the U.S. Small Business Administration has issued new criteria for states or territories seeking an economic injury declaration.

The new criteria will have two immediate impacts:

  • Under the revised criteria, states or territories are now only required to certify that at least five (5) small businesses within the affected state or territory have suffered substantial economic injury.
  • CDC (Coronavirus cases by state)
  • SBA disaster assistance loans are typically only available to small businesses within counties identified as disaster areas by their state’s governor. Under the 2020 revised criteria, disaster assistance loans will be available statewide following an economic injury declaration, as part of efforts to expanding access for small businesses.

Once a request is received from a state’s or territory’s Governor, the SBA will issue — under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act — an Economic Injury Disaster Loan declaration. These loans offer up to $2 million in assistance for each affected small business and can provide vital economic support to help overcome the temporary loss of revenue those companies are experiencing.

The SBA’s Office of Disaster Assistance will coordinate with each state’s or territory’s governor to submit requests for Economic Injury Disaster Loan assistance. An Economic Injury Disaster Loan assistance declaration by the SBA will make loans available statewide to small businesses and private, non-profit organizations to help alleviate economic issues caused by COVID-19.

Once an Economic Injury Disaster Loan assistance declaration is made, the information on the application process will be made available to affected small businesses throughout the state.

The Small Business Association offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay, with interest rates of 3.75% for small businesses and 2.75% for non-profits.

Wise Business Plans is here to help. If your business needs assistance with navigating the process required to qualify for and receive an Economic Injury Disaster Loan through the SBA, please give us a call so we can help you through the process.



    Joseph Ferriolo

    Director at Wise Business Plans®
    Joseph Ferriolo is the Director of Wise Business Plans. He has overseen over 15,000 written business plans during his tenure, raising over $1BN in funding and providing 30K+ consulting hours for startup companies.

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