An additional $70 million was added to the funding for round 2 of the We’re All In Small Business Grant Program, bringing total funding for the second grant round to $120 million and the total for both grant rounds to $185 million, Governor Tony Evers announced in late November.
The funds for the grant program come from Wisconsin’s allocation of federal Coronavirus Aid, Relief and Economic Security (CARES) Act funding.
Grant funds were distributed over the summer to more than 26,000 small businesses statewide, and more than 48,000 applications were received for the second round.
Grants were available to companies that are Wisconsin-based and for-profit; had 75% or more of company labor costs in Wisconsin and 75% of their assets in Wisconsin in 2019; earned more than $0 and less than $1 million in annual revenues (gross sales and receipts); started operating prior to Jan. 1, 2020; and filed their 2019 tax return before applying. Priority was given to the industries and businesses that were hardest hit by the pandemic.
“There’s no business that hasn’t been affected by this pandemic, and we know folks across our state need our support now more than ever,” said Governor Evers. “As we head into the winter months, we know we have to do everything we can to make sure our businesses have the resources they need as we continue fighting this virus.”
The extra funding was added when the number of applications received for the second round exceeded expectations. The application period closed Nov. 2, with applicants being notified of their award status last week and this week.
Follow WEDC’s Focus Forward updates to be notified of additional resources to help businesses weather the pandemic.