The Wisconsin Economic Development Corporation’s (WEDC’s) “We’re All In” Small Business Grant Program provided much-needed financial assistance to thousands of Wisconsin small businesses affected by COVID-19.
Despite the infusion of federal Coronavirus Aid, Relieve, and Economic Security (CARES) Act funds administered by WEDC throughout the summer, many Wisconsin small businesses continue to struggle. That is why WEDC is opening up a second phase of We’re All In Small Business Grants, making available more than $50 million of additional CARES Act funding to Wisconsin businesses hard hit by the pandemic.
How it works-
We’re All In Small Business Grant – Phase 2 makes CARES Act funding available to Wisconsin small businesses that were unable to apply for Phase 1 of the program. And, it makes additional funds available to companies that were awarded Phase 1 grants. Phase 2 grants of $5,000 will be awarded based upon the business’s annual revenue. Businesses with more than $0 but less than $1 million in annual revenues (gross receipts less returns and allowances) and one to 50 full-time equivalent employees (FTEs) in 2019 are eligible to apply. Priority will be given to businesses that did not receive a grant from WEDC in Phase 1, have ethnic minority ownership, and are in an industry with the greatest negative impact from the COVID-19 pandemic.
Application period-
Applications will be accepted from 8 a.m., Monday, Oct. 19, 2020, to 11:59 p.m., Monday, November 2, 2020. Applicants are encouraged to gather the necessary information and documents before the application window opens but should note that the timing of their application does not affect their chances of receiving a grant. Grants are not awarded on a first-come-first-served basis.
Grant administration-
Phase 1 of the We’re All In Small Business Grant was designed, marketed and administered by WEDC. Phase 2 of the program is receiving administrative assistance from the Wisconsin Department of Revenue.
Be prepared-
Applicants should familiarize themselves with the eligibility requirements and limitations of the Phase 2 We’re All In Small Business Grant Program as well as the information and documentation required to apply, all of which can be found along with the grant application at revenue.wi.gov. If you cannot apply online, you may request assistance by calling the Wisconsin Department of Revenue at 608-266-2772.