Small businesses can get piece of We’re All In Grant

The Wisconsin Economic Development Corporation (WEDC) and the Department of Revenue (DOR), have announced more than $46 million, to support an estimated 9,300 small businesses across Wisconsin. Those small businesses will receive a $5,000 grant through the “We’re All In” grant program.

“Our small businesses have had to innovate to stay afloat this past year, and that’s why it’s critically important we make sure they have the resources to recover and bounce back from this pandemic,” said Gov. Tony Evers.

The new grants are funded through the federal Coronavirus Aid, Relief and Economic Security (CARES) Act. While CARES funds as originally prescribed were slotted to expire at the end of 2020, a federal omnibus bill signed before the end of the year, extended the deadline until the end of 2021.

More than $240 million in We’re All In Grants were awarded to Wisconsin small businesses, in three phases throughout the first year of the pandemic.

Both Phase 1 and Phase 2 grants were aimed at businesses with less than $1 million in annual revenue, regardless of industry. Phase 1 distributed $65 million to more than 26,000 businesses around the state, with each business receiving a $2,500 grant.

Phase 2 grants were targeted toward industries hit hardest by the pandemic, as well as diverse businesses and businesses that had not received Phase 1 grants, providing $130 million to more than 26,000 businesses.

Phase 3 “We’re All In” was targeted specifically for restaurants and food, beverage and amusement businesses, with annual revenues between $1 million and $7 million, with each qualified business receiving $20,000. More than 2,000 received these grants for more than $40 million.

“The DOR will be processing these grants as quickly as possible, to get needed aid to businesses quickly,” said Peter Barca, DOR secretary. “We have seen the difference these types of grants can make for small businesses.”