COVID-19 Updates and Resources

Updated 4-22-21

The impact of COVID-19 (coronavirus) on small businesses continues to change quickly. We care about you and our communities, and we want to share updates and the ways we can help you.

The best way to reach us regarding COVID-19 related requests is through our payment deferral request process.

For all other requests, please contact customer care or access your account online at
westernequipmentfinance.com.

Through our online portal, you can check balance information, make payments and more!

Please note, our lobby in Devils Lake, ND, is currently closed to the public. Our full team is available through normal email and phone channels.

Resources

New Financing Requests

Our full staff remains safe and available for your equipment financing and customer care needs. If you would like to initiate a new financing request, we are here to help.

Payment Deferral Process for Existing Contracts

We’re reviewing requests with decisions based on individual circumstances. For the fastest possible service:

Download and complete the Modification Request Form.
Email the form to Credit@WesternEquipmentFinance.com.
Watch for our email with the Contract Modification Agreement.
Print, sign and return a copy of the agreement.
Once we receive the executed Contract Modification Agreement, your contract(s) will be modified as outlined in the agreement.

SBA Lending Through Western Equipment Finance

Western Equipment Finance is accepting applications from select customers for SBA 7(a) loans as a way to alleviate cash flow demands due to the COVID-19 crisis. We are not able to support requests for other SBA products at this time.

The SBA provides a range of funding programs for COVID-19 relief. Please see the SBA’s website for more details.

SBA Disaster Assistance Through the US Treasury

The Small Business Administration (SBA) offers low interest, working capital loans to businesses that have suffered substantial economic injury as a result of COVID-19.

Loans are funded directly from the US Treasury and must be applied for directly with the SBA.
Loans must be applied for through the SBA at www.sba.gov/funding-programs/disaster-assistance .

Click Here for SBA Disaster Assistance Details

We’ll continue to update you as the situation changes. Thank you for your business and your trust.

The Shuttered Venue Operators Grant

The Shuttered Venue Operators Grant (SVOG) is a part of the Consolidated Appropriations Act, signed into law December 27, 2020. This grant is designed to help live event and entertainment businesses. Eligible businesses with a reduction in revenue due to the COVID-19 pandemic can receive grants equal to 45% of their gross revenue, up to $10 million. $2 billon dollars of the grant is reserved for eligible applicants with up to 50 full-time employees. This grant will be administered by the SBA, and they will begin accepting applications on April 8, 2021. Visit the SBA website for more information.

This grant is available for the following businesses:

Live venue operators or promoters
Theatrical producers
Live performing arts organization operators
Relevant museum operators, zoos and aquariums who meet specific criteria
Motion picture theater operators
Talent representatives
Each business entity owned by an eligible entity that also meets the eligibility requirements

Those who receive PPP loans on or after 12/27/20 are not eligible for the SVOG.

Click Here for SVOG Information

The Restaurant Revitalization Fund

As a part of the America Rescue Plan Act, the Restaurant Revitalization Fund (RFF) is designed to help restaurants, bars, and similar businesses who serve food or drink continue to recover from the economic crisis that resulted from the COVID-19 pandemic.

Through the RFF, eligible businesses with a reduction in revenue due to the COVID-19 pandemic will have the opportunity to receive up to a $10 million grant, with no more than $5 million per location. This grant will be administered by the SBA, including the application process.

The fund is available to the following businesses:

Restaurants
Food stands, food trucks, food carts
Caterers
Bars, saloons, lounges, taverns
Snack and nonalcoholic beverage bars
Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products

Click Here for RFF Information