Using federal monies available to Wisconsin through the Coronavirus Aids, Relief, and Economic Security Act (CARES), the Wisconsin Economic Development Corp will provide grants to small businesses throughout the state.
Wisconsin small businesses that saw revenue interrupted by the Covid-19 pandemic are eligible under two grant programs totaling $75 million that Gov. Tony Evers announced Monday to cover the costs of health and safety improvements, employee compensation, rent, mortgages and inventory.
The first program provides $2,500 grants to small businesses with 20 or fewer full-time-equivalent employees impacted by Covid-19 that have not already received pandemic assistance from the Wisconsin Economic Development Corp. Grants will be available for up to 30,000 small businesses.
The second program is called “Ethnic Minority Emergency Grants” and will provide $2 million in grants for ethnically diverse Wisconsin micro-businesses that suffered losses due to the pandemic. The grants are aimed at sole proprietorships or businesses with five or fewer employees that have not received assistance under either SB 20/20 program or SBA’s Paycheck Protection Program.
“These grants will help businesses in the short term, and we need Wisconsinites to join our long-term economic recovery by supporting those small businesses as patrons and customers,” Evers said in a press release. “We know that folks need to feel safe and confident as employees and consumers for this to work, so that is why we need to be all in together.”
More details are available on the WEDC website here.
A step in the right direction for Wisconsin businesses who may have missed out on the major Small Business Association programs…and turn of the dial of re-opening Wisconsin.