The Wisconsin Economic Development Corporation announced that 10 community organizations supporting small businesses across Wisconsin have received $1.5 million in Small Business Development Grants from WEDC.
“Local leaders want to build communities where people are excited to live, work, and grow,” said John W. Miller, secretary and CEO of the Wisconsin Economic Development Corporation (WEDC), the state’s lead economic development organization. “These grants will allow communities to make the investments small businesses need to be able to grow and thrive.”
The competitive grants, which range from $50,000 to $250,000, were awarded to local and regional economic development organizations, municipalities, and counties to support small business development and creation. The organizations will pass 100% of the SBDG funds on to small businesses.
The Green Lake Area Chamber of Commerce will allocate $100,000 of SBDG funds to a revolving loan fund, $40,000 to a façade improvement program, and $35,000 to a rent assistance incentive.
Revolving loans would be available in amounts of $5,000 to $25,000 for projects such as property rehabilitation, equipment purchases, and upper-floor housing. The façade improvement program will provide grants up to $5,000 for exterior improvements visible from the public right-of-way, such as signage, painting, windows, and masonry repair. The Rent Assistance Incentive will provide grants up to $7,500 to offset first-year rent in long-vacant downtown spaces.
Businesses that access these funding streams will also be connected to technical assistance through GLACC’s Actionable Lunch ‘N’ Learn sessions, industry experts, and the Wisconsin Main Street resources.
