Restaurant Revitalization Fund Program
The American Rescue Plan Act of 2021 provides $25 billion nationwide for a new SBA program specifically for restaurants and other food and drinking establishments impacted by the pandemic. The grants of up to $10 million per business can be used for a wide variety of expenses. Eligible entities include restaurants, food stands and food trucks, caterers, bars and lounges, brewpubs and tasting rooms, inns, taverns, and similar businesses, including those located in airport terminals.
UPDATE: The application window is now closed.
Wisconsin Small Business Grants Overview
Small Businesses were affected worst during the pandemic period. Hundreds of small enterprises are still looking for financial aid to recover from this state.
To help small enterprises, Wisconsin Small Business Grants are available from the federal department.
Small Business Grants are offered by the agencies of government for small businesses that need financial assistance to redevelop a business or for any other purposes.
Smaller enterprises in Wisconsin are affected and they need to push through financial support.
Many people dont know about what types of funding opportunities are available for them and how they can receive financial aid.
To help such people, we have prepared a list of all the resources that are available for Small Enterprises in Wisconsin. Lets get on to the list now!
Which Grants Can My Business Get In The Us
Are you looking for Grants For Wisconsin Small Businesses?
First, it is important to search for grants that meet your businesss needs. There are many types of grants available depending on your industry. Some of them require matching funds. Once you find grants that align with your business needs, youll need to devote several weeks to filling out applications. Before submitting your application, make sure you have another person proofread it.
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What Is A Grant
A grant is generally understood as an award from a public authority or agency to support the development of a new product, service, or project. The government does not have to guarantee that a grant will be paid back like a secured loan, which the government backs. The lack of a repayment requirement makes grant programs beneficial to small businesses.
Although applications and administration can be lengthy and time-consuming, the grant process is an important way to grow your business at a low cost. Heavy competition and grant applications can be long and difficult. If you are in the process of applying for a grant for a small business, you must show you have the necessary resources to build a successful small business and match the lending bodys requirements. The local government, charitable organizations, and private foundations run various grant programs.
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We were were eligible for the Main Street Bounceback Grant because we opened up the cheese shop during the window of time that included the pandemic, said Hill Valley Dairy artisan cheesemaker Ron Henningfeld, who co-owns the business with his wife, Josie. We were able to apply for a grant and received funds which helped us tremendously as a small business. It helped us pay rent and also hire staff and pay wages as we started up this store on one of the main streets here in Lake Geneva.
The Main Street Bounceback Grant Program was first announced in April 2021. In May, Evers announced an additional $25 million investment to support the program due to greater-than-expected demand. The newly-announced additional $25 million investment builds on this work and will help ensure there is funding available to help a total of 10,000 small businesses and nonprofits.
A recent analysis of state allocations showed that as a share of federal aid received by states under the American Rescue Plan Act, Wisconsin ranks second in the country for aid directed to economic development and first in the country in aid to businesses. These investments have helped ensure the states successful recovery, including an unemployment rate that continues to be near or at record low numbers, increased exports of Wisconsin goods, new business openings, and attraction of new businesses from other states and expansions of existing ones.
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Here As You Write Your Small Business Story
WEDC offers Wisconsin businesses access to tools and resources to support their growth and development. Why? Because small businesses are the heart and soul of Wisconsins economy and communities. Their success stories matter.
Whatever chapter youve reached in your business storybusiness plan development, location expansion, job creation or trainingyoull find resources and support available to you when you contact WEDC. Weve assisted small businesses across the state with the grants, strategy development, access to expertise, and export assistance they need as they write their success stories. We see the hard work you put into your businesses, and were here to support you every page of the way.
Be inspired by fellow Wisconsin businesses that have tapped into WEDC resources. Explore the many programs and resources designed to support business and community growth and economic well-being for all Wisconsinites. And then register with us to stay up to date on WEDC programs, announcements and opportunities. We love hearing great Wisconsin business stories, and we cant wait to learn about yours.
Business And Commercialization Micro
Amount of Grant: Up to $4,500Due Date: Ongoing
Wisconsin businesses with research-oriented or technology-based products can apply for a Business and Commercialization Micro-Grant through the Center for Technology Commercialization . The grant funds up to 75% of the costs spent hiring an independent third party to write a business or commercialization plan. The limit of this grant is $4,500.
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Wisconsin Free Grants And Loans For Minority And Women Owned Businesses
Minority as well as women owned businesses in Wisconsin can get financing from a wide variety of free grant or loan programs. There are banks, credit unions, corporation, non-profits, and even government funds available each and every month. The goal is to help small businesses get the capital they need, with a focus on Black, women, and minority owned companies. Find a list of grants and loans below in Wisconsin that may be near you, including in Milwaukee, Madison, and other cities.
The funds will be for women owned companies, Black, Indigenous, People of Color businesses as well as MWBE companies. There are also loan and free grant programs for Black, Latino, or Asian owned companies as well as LGBTQ companies. The financial assistance, when combined with mentoring support, can help a business either start or grow.
The list of funds below will be updated daily. It is the most recent list of loan as well as grant programs as they open up for minority as well as female or black women owned companies. Note some funds focus on start-ups or micro-businesses as well.
African American Chamber Of Commerce Of Wisconsin
The African American Chamber of Commerce of Wisconsin is one of the states largest chambers of commerce and focuses on Milwaukee. In addition to helping minority-owned businesses, they offer assistance to others, but the focus is on businesses owned by people of color. They help facilitate interest-free loans of up to $15,000 and free mentorship, counseling, and networking. In addition to helping people of color succeed in the short and long term, there will also be a focus on ensuring that they receive the capital and support they need along the way.
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Wisconsin Tomorrow Small Business Recovery Grant
The Wisconsin Tomorrow Small Business Recovery Grant is designed exclusively for small businesses that need financial support.
Recently, the governor of Wisconsin has announced a $420 million in Wisconsin Tomorrow Small Business Recovery Grant to help small enterprises active in Wisconsin.
Wisconsin Tomorrow Small Business Recovery Grant
The participants will receive financial aid of $5,000 through the allotted funds. They aim to provide a $5,000 grant to over 84,000 small enterprises across Wisconsin.
To fund more of the small enterprises in Wisconsin, the governor has announced $75 million grants in the previous month.
The new grants are recently announced under the same grant i.e. Wisconsin Tomorrow Small Business Recovery Grant.
This program receives regular funds to allocate to the needy businessmen who want to support their business which is collapsing.
They Need Matching Funds
Federal grants often require matching funds. In some cases, matching funds may be available from other sources, such in-kind services offered by applicants. The match requirement is usually a percentage of the project cost. In some cases, an applicant organization can provide the matching funds in the form of volunteers. However, these contributions must be related to the projects goals.
It is important to consider overhead expenses when applying for match funds. Often people will overlook these expenses, which include marketing materials and tools. These expenses should be included in your proposal budget. If they arent, they will need to be acquired for the organization or donated. For this reason, its important to have a detailed list of your costs.
The match can come from universities or other nonprofit partners or philanthropic organizations. Federal funds can be used to provide match funds. However, this must be allowed. Typically, these funds can be provided in cash or in-kind form. Once the match is secured, the project can move forward.
Some federal agencies and state agencies provide grant notification listservs. You can subscribe to this list to receive email updates about grant opportunities. You can also get updates on grant opportunities by visiting your states agency website. You should be aware that federal match grants may require matching funding. It is important to read the guidelines carefully.
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Madison Area And Dane County Grant And Loan Programs
Center for Black Excellence and Culture is based in Madison. They provide a number of resources to the Black community, including business owners and entrepreneurs. There are workshops and classes, free use of classrooms and workstations, mentoring services, and an ongoing list of grant programs. Opportunities are offered for the Black community in Dane County. Learn more here.
Dane County and Madison small businesses can turn to the Latino Chamber of Commerce of Dane County for assistance. They help with economic development, which includes information on free government grants, loan programs, start-up help, employment issues and much more. A focus is on Hispanic owned businesses but any small to mid-sized company can get help. They are also part of the Wisconsin Latino Chamber of Commerce as well as the PROSPERA Revolving Loan Fund, which provides financial help. More here.
United Way of Dane County, working with other charities and corporations, provides support to small businesses, including annual microgrants to Black women owned companies and other minorities. The non-profit United Way has many assistance programs around education, employment, small business development and entrepreneurship and more. A major focus is on people of color, immigrants, women, and veterans in Madison and the county, but anyone can apply for grants or other help. Learn more here.
Evers Adds $15 Million To Grant Program For Diverse Small Businesses
MADISON, Wis. A grant program that serves small businesses in Wisconsin got a second round of funding Monday.
Governor Evers announced that $15.7 million would be given to businesses as part of the Diverse Business Assistance Grant program. The program is targeted at rural, veteran-owned, and LGBT-owned businesses that were disproportionately affected by the pandemic.
Our goal has always been working to ensure that our states economy works for everyone, Evers said. When we invest in small businesses in our state, were also investing in local jobs, strengthening local supply chains, and fostering innovation and growth that build strong communities for years to come.
The program was announced last year and is funded by the American Rescue Plan Act. Groups including the Madison Black Chamber of Commerce and Urban Triage were awarded grants.
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The American Rescue Plan Act Of :
- Establishes a $25 billion Restaurant Revitalization Fund, which will provide grants to help local restaurants keep their doors open and keep their workers employed
- Adds $15 billion for the Targeted Economic Injury Disaster Loan Advance program to help the hardest-hit small businesses
- Reauthorizes the State Small Business Credit Initiative, providing $10 billion in new funding for the program to help small businesses grow and create jobs
- Provides an additional $7.25 billion for the Paycheck Protection Program and expands eligibility for nonprofits and digital news outlets
- Provides an additional $1.25 billion for the Shuttered Venue Operators Grant Program to support live entertainment venues
- Allows businesses that received PPP loans in 2021 to be eligible for the Shuttered Venue Operator Grant Program
- Establishes the Community Navigator pilot program to improve access to COVID-19 relief, especially for underserved communities
- Provides full financing of state work-share programs through September 6, 2021
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Wisconsin Small Business Grants
With more than $19,219.00 million dollars in grants and additional local government funding sources of $9,556.00 million dollars, the majority of the federal budget in government grants is put into the business sector every year as small businesses and large corporations are the foundation of the economic growth in Wisconsin. There are 111,758 business establishments in the state of Wisconsin, and they break down to the following:
Wisconsin Business Sector Breakdown by Size:
- 62,000 registered businesses in Wisconsin have 0 to 4 employees. People who work at home with sole proprietorship are included in this breakdown.
- 19,717 registered businesses in Wisconsin have 5 to 9 employees.
- 13,309 registered businesses in Wisconsin have 10-19 employees.
- 11,666 registered businesses in Wisconsin have 20-99 employees.
- 2,655 registered businesses in Wisconsin have 100 to 499 employees.
- Over 2,411 registered businesses in Wisconsin have over 500 employees.
Wisconsin Business Sector Breakdown in Service Industries:
If you are in the farming industry, you may be eligible to apply for small business grants as well. There are more than 78,000 farms in the state of Wisconsin.
To apply for business grants in Wisconsin, contact Wisconsin financial aid agencies.
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Paycheck Protection Program Loans
This program provides cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy snap-back quicker after the crisis. PPP has a host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year.
Per the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, PPP expenses are now tax deductible.
UPDATE : SBA Notice: The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.
Evers Wedc Announce $25 Million In Additional Main Street Bounceback Funding: Announcement Brings Total Grants For Small Businesses And Nonprofits To $100 Million
Gov. Tony Evers and Wisconsin Economic Development Corporation Secretary and CEO Missy Hughes announced Sept. 13 that the state will provide an additional $25 million investment for the American Rescue Plan Act-funded Main Street Bounceback Grant Program, bringing the total investment in the program to $100 million. To date, more than 6,200 small businesses and nonprofits across all 72 Wisconsin counties have been approved for $10,000 grants, including the Hill Valley Dairy retail store at 510 Broad St. in Lake Geneva, which received $10,000 in Main Street Bounceback Grant Program funding earlier this year. Evers, seen here with Hill Valley Dairy co-owners Josie and Ron Henningfeld, visited the store on June 2, to promote June Dairy Month and the Main Street Bounceback Grant Program.
More funding has been approved for an American Rescue Plan Act financed economic development-focused pandemic recovery grant program that has benefited thousands of small businesses and nonprofits statewide, including a Lake Geneva retail store.
Gov. Tony Evers and Wisconsin Economic Development Corporation Secretary and CEO Missy Hughes announced Sept. 13 that the state will provide an additional $25 million investment for the Main Street Bounceback Grant Program, bringing total investment in the program to $100 million.
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Grants For Wisconsin Small Businesses
Small business grants are often industry-specific. Focusing on a specific industry can increase your chances to win a grant. This is because you will be able to establish connections with industry leaders and build a buzz about the business. You should also be careful not to miss any aspects of the eligibility requirements, or you could end up applying for a grant that youre ineligible for. Always read the application requirements carefully and ask the organization if youre unsure about your eligibility.
The SBIR program is another great program that you can apply for. It is for small businesses involved in research and development. This program aims to foster technological innovation and scientific entrepreneurship. There are 11 government agencies involved in the SBIR program, and each agency has its own eligibility guidelines and applications process. The grants awarded by the government agencies are generally between $25,000 and $250,000 and can be as high as $1 million for promising small businesses.
Milwaukee Wisconsin Mwbe Programs
As a Kiva Trustee, the City of West Allis offers small business owners in the city the opportunity to acquire the funding they may require. With the WBIC, the city government ensures that financial aid and other resources are provided to the most qualified businesses, with a special focus on MWBE businesses. Businesses that meet certain qualification criteria can borrow up to $15,000 in financing.
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