Racine County, WI – The smallest of businesses are those hardest hit by the pandemic. Loans are not necessarily the right solution. They need cash support.
- Opened on or before March 25, 2020
- Five or fewer employees
- Located in Racine County, outside of the City of Racine
- Owned by a low to moderate-income household OR majority of employees are
making LMI wages (See income eligibility table below)
- Negatively impacted by the pandemic
- The applications will be processed by the order in which they are received
- The applications will be viewed by an RCEDC Staff member for review of eligibility and
processing. This includes a public records check and income verification
- Eligible applicants will be submitted to RCEDC’s Loan Committee for approval
- If the grant is approved, the applicant documents the use of funds, non-duplication of funds, and LMI
- RCEDC submits draw request for CDBG funds anticipated monthly
- Grant recipient signs grant agreement recertifying as to eligibility
- Funds are reimbursed to businesses
- Business was shut down during the pandemic. loss of sales made it difficult to cover rent, utilities and debt payments. Grant funds fill the gap to cover the losses during that period. Documentation of the business being shut down needed to qualify.
- Sales for your business dropped due to the inability to maintain sufficient staff due either the direct or indirect challenges of securing employees during the pandemic. For example, employees needed to be quarantined or did not feel safe working during the pandemic or were not willing to come back to work after the shutdown/worst of the pandemic was over. Documentation of the loss in revenue such as financial statements would be needed to qualify for the grant.
- Business is seeing a loss in customers since the economic shutdown. Business uses grant money to hire a marketing consultant to develop a marketing initiative that brings in new customers and increases sales volume.
- Business needed to pivot to online sales in order to keep their business afloat during the shutdown orders. The grant money is used to reimburse the cost related to changing their business model.
“So many small businesses in Racine County have been hit hard by COVID-19,” County Executive Jonathan Delagrave said. “I’m thankful this funding will help support our well-deserving local businesses as we continue working to recover from the pandemic.”
Eligible Racine County businesses* are those with five or less employees that have been negatively impacted by the pandemic and need funding for operations, consultant and coaching costs, or training.
“I truly appreciate the partnership RCEDC has with Racine County in our joint effort to support local businesses,” RCEDC Executive Director Jenny Trick said. “RCEDC’s lending team, led by Carolyn Engel, is diligently completing the administrative tasks required to establish the program, applications, and the review process to begin to distribute these dollars. I expect grant applications will be available in May 2021.”
*For Racine County businesses, excluding those in the City of Racine, interested in access these funds as soon as they become available, please fill out the form below with your name an email.
- Racine County, excludes City of Racine
- 5 or fewer staff
- low-to-moderate income
- Consultant and
- Full/partial shut down
- Revenue decline
- Economic changes