Madison startup lures $210 million investment
Madison-based Fetch Rewards has earned the status of being valued at $1 billion after it closed on a $210 million equity investment round.
Banking & Finance
WEDC details goals for recovery, Evers boosts grants
The Wisconsin Economic Development Corp. (WEDC) has released a report that recommends lawmakers work on providing workforce opportunities, supporting businesses, and improving Wisconsinites’ well-being to rebuild the state economy and recover from the COVID-19 pandemic.
Edvest announces 2021 state tax deduction increase
Edvest, Wisconsin’s 529 College Savings Plan, announced the 2021 state tax deduction has been raised to $3,380.
UW Credit Union expanding to four new Milwaukee-area locations
Madison-based UW Credit Union is planning branches in the Milwaukee suburbs of Franklin, Bayview, Elm Grove, and Greenfield.
WBA applauds bill to strengthen rural credit opportunities
The Wisconsin Bankers Association has confirmed its support of a bipartisan bill introduced by Representative Ron Kind (D-Wisconsin) to help provide financing opportunities for rural communities.
Tax filing deadline extended to May 17
The Treasury Department and Internal Revenue Service (IRS) have extended the federal income tax filing deadline for individuals for the 2020 tax year to May 17, 2021.
Should student loans be forgiven?
Pursuing a higher education degree is supposed to be a pathway to unlocking a steady career path and increased earning potential, but for many that college degree also carries the crushing burden of student loan debt.
Warning to businesses: Beware of fake invoices
The Better Business Bureau serving Wisconsin and the Wisconsin Department of Financial Institutions are warning businesses about solicitations designed to look like invoices.
SBDC clients received $28.8 million in aid
The Small Business Development Center reported it helped clients impacted by COVID-19 secure $21.1 million in federal aid and $7.7 million in state aid in 2020.
Banks post strong finish to 2020
Wisconsin’s 135 state-chartered banks reported strong fiscal performance through year-end 2020.
AmFam, Urban League create loan fund to promote business equity
As part of American Family Insurance’s “Free to Dream” initiative, the insurer is partnering with the Urban League of Greater Madison on a $400,000 revolving loan program for new and emerging minority-owned businesses that will be located in the new minority business hub in Madison’s South Park Street corridor.
Take Five: BMO lending program focused on minority businesses
BMO Harris Bank has launched a new $500 million lending program that is focused on minority-owned businesses, and one of the stated reasons is to ensure an inclusive economic recovery from the COVID-19 pandemic.
Updates to PPP will help small businesses
Updates to the Paycheck Protection Program (PPP) are designed to expand access and eligibility, particularly for sole proprietors and micro-businesses.
Former Columbus mayor pleads guilty to bank fraud
Eisenga was charged last fall with federal bank fraud for the alleged use of fraudulent documents to secure a loan for a Columbus building he claimed was under a long-term lease.
Lawmakers pass bill waiving taxes on aid
A plan passed by the Wisconsin Assembly 87–3 and the Senate 27–5 will waive taxes for coronavirus aid.
Program aims to help Black, Hispanic, and women-owned small businesses
Scale Up Milwaukee’s SPARC business accelerator program is now taking applications for its fifth cohort.
Partnership launches racial equity effort
UW Credit Union has partnered with United Way to make a $1.5 million investment to address local barriers to racial equity.
Survey: 65% of PPP 2020 borrowers have applied for loan forgiveness
The NFIB Research Center’s latest COVID-19 small business impact survey shows nearly two-thirds of 2020 Paycheck Protection Plan (PPP) loan recipients have applied for loan forgiveness.
Task force targets retirement savings issues
A bipartisan task force has examined looming retirement savings problems in the state and is recommending a series of steps to improve conditions for retirees.
Budget committee advances PPP deduction bill
A state bill that could reduce business taxes by $540 million by allowing Paycheck Protection Program (PPP) loan recipients to deduct related purchases has been put forward by the Republican-controlled budget committee.
