WEDC hands out $40M in grants to small businesses

Posted on Jul 22, 2020 :: Insight on Business, Web Exclusive
Posted by of Insight Publications

The Wisconsin Economic Development Corp. has approved grants totaling $40.7 million to almost 16,300 businesses as part of its We’re All in Small Business Grants program.

WEDC already disbursed more than $27.4 million to nearly 11,000 businesses and is processing an additional $13.3 million to more than 5,300 businesses. The agency received more than 30,500 applicants for the grant program.

“The idea behind the We’re All In grants was to get much-needed funds into the hands of small businesses affected by the COVID-19 pandemic as quickly as possible,” WEDC Secretary and CEO Missy Hughes said in a statement. “We have learned from the applicants that, in many cases, these grants are really helping them to keep the lights on.”

The We’re All In Small Business Grants program is the largest plan focused exclusively on small businesses that WEDC has created since it was established in 2011. The program was established to provide $2,500 in grants to 30,000 small businesses across Wisconsin, for a total of $75 million in funds disbursed. The program is funded primarily by the federal Coronavirus Aid, Relief and Economic Security (CARES) Act.

WEDC staff members are working with the roughly 14,000 remaining businesses to gather more information about their applications to help them qualify for grant money.