Wisconsin Economic Development Corporation Now Accepting Ethnic Minority Emergency Grant Applications
The Wisconsin Economic Development Corporation will open up applications today, May 18, 2020. There will be available $2 million dollars for 1,000 Wisconsin micro-businesses. This will provide $2,000 grants for short-term operations assistance for businesses that are Minority owned. Applications will likely be filled quickly and will not be taken after 5/24/20. Applications can be found at any of the websites tied to Wisconsin’s Collective Ethnic and Diverse Organizations (a list can be found at the WEDC website along with a list of phone numbers and website addresses for each of the Collective Members). Application is made at any of the websites for the Collective Member Organizations. You do not need to be a member.
Eligibility for the Grant:
- A Wisconsin based, for profit business. Sole proprietors can apply, but non-profits do not qualify;
- No more than 5 full time equivalent employees;
- Must be a 51% minority owned business;
- Must be in the Retail, Service or Hospitality industries;
- Applicant must NOT have received assistance through the WEDC Small Business 20/20 Program or the SBA Paycheck Protection Program (PPP).
- Business must have started operating before Jan. 1, 2020, and was operating as of Feb. 29, 2020.
What do you need to apply?
- 2018 or 2019 Federal Tax Return;
- Completed W-9 form;
- Proof of being in business as of Feb. 29, 2020. The easiest method is to provide a Profit and Loss Statement for February, 2020.
Grant applicants shall be entered into a pool of applicants and recipients will be randomly drawn after 5/24/20 (end of the application process – it is estimated that notices of awards may be issued by email in Mid-June), with available funds of $2,000 per applicant being awarded. You will receive a call (it doesn’t hurt to also provide multiple ways to reach you, in case your application is selected or needs to be reviewed, so provide other phone numbers and email).
Awards can be used for – rent, payroll (including owner’s draw), inventory and utilities. A follow-up report shall be required that verifies the use of the funds. Once again you will want to contact one of the Wisconsin’s Collective Ethnic and Diverse Organizations listed below for assistance.