The Wisconsin Economic Development Corporation will deploy a second round of We’re All In grants to provide small businesses impacted by COVID-19 with $50 million in financial support.
The second round comes after Wisconsin Governor Tony Evers announced a series of financial support programs that leverage funding through the federal Coronavirus Aid, Relief and Economic Security (CARES) Coronavirus Relief Fund (CRF) to support businesses still challenged by the effects of COVID-19.
“Wisconsin’s small businesses have demonstrated unbelievable creativity and ingenuity in adapting to the pandemic,” WEDC secretary and chief executive officer Missy Hughes said in a statement. “But what we’re hearing from many of them is that they’re already stretched to the limit and are concerned what the next few months will hold.”
This second wave of financial support offers grants of up to $5,000 to approximately 10,000 businesses. Applications for the grants open Oct. 19 at a.m. and close at Nov. 2 at 11:59 p.m., according to a press release.
Businesses that received funds during the first round of We’re All In grants as well as the Ethnic Minority Emergency Grant program are still eligible for the second round of grants.
However, 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 the hardest-hit sectors including restaurants, taverns, hair and nail salons and barber shops.
To be eligible, a business must be a for-profit, Wisconsin-based business that was in operation prior to Jan. 1, 2020 and that has been in operation as of Feb. 2020.
The first round of We’re All In Grants provided $65 million to more than 27,000 businesses across the state. Grants during the first round were $2,500. WEDC also provided $2 million in state funds to diverse businesses under the Ethnic Minority Emergency Grant program and $5 million to microbusinesses through the Small Business 20/20 program.