State opens portal for $5,000 small business grants

Money

Small business owners adversely affected by the COVID-19 pandemic can now apply for $5,000 grants, Wisconsin Governor Tony Evers announced today.

A total of $420 million in grant funding for Wisconsin businesses will be made available through the “Wisconsin Tomorrow Small Business Recovery” program, an initiative led by the Wisconsin Economic Development Corp. and the Department of Revenue.

The funds are intended to help Wisconsin businesses recover from the economic impact of COVID-19.

“Our businesses will be able to use these funds to restock shelves, catch up on bills, rehire and retrain workers and help continue keeping folks safe so we can bounce back together,” Evers said in a statement.

The grants will provide funding to as many as 84,000 Wisconsin businesses, according to a press release. Businesses with revenues of between $10,000 and $7 million are eligible to apply.

The DOR will accept applications until 4:30 p.m. on June 7.

The grants are part of the governor’s plan to use the $2.5 billion the state will receive under the American Rescue Plan Act of 2021, which includes $600 million in funds designated to support small businesses. The Wisconsin Tomorrow Small Business Recovery grants are included in that $600 million.

WEDC provided more than $240 million in grants to help more than 60,000 small businesses cope with losses related to the pandemic, according to a press release.

Click here to apply for a $5,000 grant.

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