Grant program aids small businesses

Posted on May 25, 2021 :: Insight on Business, Web Exclusive.
Posted by of Insight Publications

Wisconsin small business owners adversely affected by the COVID-19 pandemic can now apply for $5,000 grants as part of the Wisconsin Tomorrow Small Business Recovery program.

The initiative, which is led by the Wisconsin Economic Development Corp. and the Department of Revenue, has a total of $420 million in grants available. In a statement, Gov. Tony Evers said the funds are intended to help Wisconsin businesses recover from the economic impact of COVID-19.

“Our businesses will be able to use these funds to restock shelves, catch up on bills, rehire and retrain workers, and help continue keeping folks safe so we can bounce back together,” he said.

The grants will provide funding to as many as 84,000 Wisconsin businesses. Companies with revenues of between $10,000 and $7 million are eligible to apply. The Department of Revenue will accept grant applications until 4:30 p.m. on June 7.

The grants are part of Evers’ plan to use the $2.5 billion the state will receive under the American Rescue Plan Act of 2021, which includes $600 million in funds designated to support small businesses. The Wisconsin Tomorrow Small Business Recovery grants are included in that $600 million.

Click here to apply.