BUSINESS

State to give 84,000 Wisconsin businesses $5,000 grants by end of June

Ricardo Torres
Milwaukee Journal Sentinel

Some 84,000 Wisconsin businesses have been invited to apply for a $5,000 grant to be distributed by the Wisconsin Department of Revenue and Wisconsin Economic Development Corp.  

The notification came in an email to the companies.

“It’s really important that small businesses are checking their email,” WEDC Secretary and CEO Missy Hughes said. 

Missy Hughes, chief executive officer of the Wisconsin Economic Development Corp., speaks during a news conference Monday at MillerCoors in Milwaukee.

Gov. Tony Evers authorized $420 million, through funding received by the American Rescue Plan Act, to be distributed to businesses that apply by 4:30 p.m. on June 7. 

The Wisconsin Tomorrow Small Business Recovery Grants is a collaboration between the WEDC and DOR.

"I am so pleased that we are able to provide some relief that will help small businesses recover and, eventually, bounce back further than they were before the pandemic hit," said Secretary of Revenue Peter Barca.

State Rep. Peter Barca, who was appointed secretary of the Department of Revenue, speaks during a news conference in Madison.

The businesses selected to be eligible for the grants had to have an annual gross revenue between $10,000 and $7 million.  

The email sent to businesses contained a link to the application, which Hughes said should take roughly 15 minutes to complete. 

“Small businesses really have the ability to stretch and work a dollar in Wisconsin,” Hughes said. “What I’m hoping, what I anticipate, is the businesses will put this $5,000 to work. They’ll buy inventory. They’ll pay rent. They’ll pay their staff and those dollars will get right into the community.” 

Last year WEDC distributed $240 million to roughly 60,000 small businesses through funds received from the CARES Act.  

Hughes said WEDC is still evaluating what kind of an impact those grants had on the states’ economy.  

Businesses that received funding last year could be eligible again for this new round of funding. Also, businesses that were started in 2020 are also eligible.

“A lot of the funding that happened last year, if you started your business in 2020 you weren’t eligible,” Hughes said.

“If you’re bold enough to start a business in the middle of a global pandemic then we want to have your back, and we want to support you.”

 Hughes said the state is hoping to start distributing the grants to businesses as early as the first week in June, with the goal of having all the money distributed by the end of June.  

Those interested in learning more about the program should visit the Department of Revenue website.