Yesterday, WEDC Secretary Missy Hughes announced details for the state's We’re All In Small Business Grant program. Designed to help businesses with fewer than 20 employees, the program will provide $2,500 grants to 30,000 small businesses.
These funds provide a lifeline for small businesses that may not qualify for a PPP loan or other relief funds. Just like with PPP, banks again have the opportunity to step up and help their clients and community businesses. One of the criteria listed on the grant application is a letter or email of acknowledgment indicating the applying business was in operation in February 2020. Local banks are listed among the community organizations which qualify to provide this acknowledgment.
WBA has created a template letter member banks can use to support small businesses with this requirement. Click here to download the template.
The All In grant program's goal is to help 30,000 small businesses get back on their feet amid the COVID-19 pandemic while also encouraging them to adopt best practices to keep employees, customers, and communities safe. This grant is funded by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. Announced by Gov. Evers on May 18, the grants will help small businesses with the costs of business interruption or for health and safety improvements, wages and salaries, rent, mortgages, and inventory.
The online application period for the grants launches at 8:00 a.m. on June 15 and closes at 11:59 p.m. on June 21.
To be eligible, businesses must:
- be a Wisconsin-based, for-profit business;
- employ 20 or fewer full-time equivalent (FTE) employees, including the owner;
- earn greater than $0 but less than $1 million in annual revenues; and
- have been in business in February 2020.
Read more about the grants here, including a list of required documentation.