The Wisconsin Economic Development Corporation (WEDC) has announced they will provide a second round of “We’re All In” Small Business Grants to distribute an additional $50 million to small businesses hit hard by the COVID-19 pandemic.
The first phase of the program provided more than $65 million in grants to over 26,000 businesses statewide this summer. Despite the infusion of federal Coronavirus Aid, Relief and Economic Security (CARES) Act funds distributed by WEDC, however, many Wisconsin small businesses continue to struggle. The new round aims to provide grants of $5,000 each to 10,000 additional Wisconsin small businesses.
Applications for the grants will open at 8 a.m. Monday, Oct. 19, and close at 11:59 p.m. Monday, Nov. 2. As with the previous round of “We’re All In” Grants, awards will not be made on a first-come, first-served basis.
Businesses that received funds under the first round of “We’re All In” Grants, as well as the Ethnic Minority Emergency Grant program, are also eligible for the second round of We’re All In Grants. Priority will be given to businesses that have not previously received funds from either of the first two programs, those with ethnically diverse ownership, and those in the hardest-hit sectors, such as restaurants and taverns, hair and nail salons and barber shops, and other services.
The grants will be administered by the Wisconsin Department of Revenue in partnership with WEDC. Learn more about the program and apply at revenue.wi.gov.
To be eligible for the second round of “We’re All In” Grants, an applicant must:
- be a Wisconsin-based, for-profit business;
- in 2019, have 75% or more of company labor costs in Wisconsin and 75% of their assets in Wisconsin;
- earn more than $0 and less than $1 million in annual revenues (gross sales and receipts); and
- have started operating prior to Jan. 1, 2020, (Seasonal businesses should use the highest total FTEs employed during the season.)
- have filed their 2019 taxes.