Wisconsin’s “We’re All In” Initiative to Help Small Businesses
On May 18, 2020, the state of Wisconsin announced $75 million in assistance for small businesses as part of the Wisconsin Economic Development Corporation’s (WEDC) “We’re All In” initiative. The initiative is a comprehensive effort to help Wisconsin’s small businesses get back on their feet by providing direct assistance to small businesses most impacted by restrictions and difficulties created by the COVID-19 pandemic.
$2,500 cash grants will be available to up to 30,000 small businesses that meet certain requirements to help pay employee wages and other business expenses.
A business may apply if it meets all of the following criteria:
- The business is Wisconsin-based and for profit;
- The business employs 20 or fewer full-time equivalent (FTE) employees, including the owner;
- The business has less than $1 million in annual revenues (gross sales and receipts); and
- The business started operating prior to Jan. 1, 2020, and was operating in February, 2020.
Applications will be accepted for within a narrow nine day window, running from Monday June 15 through Tuesday, June 23rd. Grants are NOT awarded on a first-come, first served basis. Each application will be screened for eligibility and then ranked. Grants will be awarded based on industries which experiences the greatest native impact due to the COVID-19 pandemic, community distress and geographic dispersion, and whether or not other assistance was received (PPP loan, EIDL, etc.).
What can the funds be used for?
Grant funds can used for any operating costs of the business, including wages and salaries, rent, mortgage payments and health or safety improvements.
For more information, see the WEDC’s website: https://wedc.org/programs-and-resources/wai-small-business-grant/. For a list of Frequently Asked Questions, click this link: https://wedc.org/wai-small-business-grant-frequently-asked-questions/