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 applicants that did not receive funding from the Phase 1 of the We’re All In Small Business Grant Program. Once these new applicants are awarded Phase 2 grants, Phase 1 recipients’ applications will be considered, with priority given to ethnic minority-owned businesses followed by businesses in industries most affected by the pandemic.
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.
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.