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 don’t 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. Let’s get on to the list now!
Wisconsin Small Business Grants
1. 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 announced a $420 million Wisconsin Tomorrow Small Business Recovery Grant to help small enterprises active in Wisconsin.
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 announced $75 million in 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 needy businessmen who want to support their business which is collapsing.
2. Paycheck Protection Program
The Paycheck Protection Program is designed for small businesses to keep their business going with the available employees.
It is a government-backed grants program that provides financial assistance to small enterprises that got affected during the pandemic.
The Paycheck Protection Program helps businesses to apply for loan forgiveness. Once their application is accepted by the authority, their loan amount will be forgiven.
This means the lender doesn’t need to repay the borrowed loan. The official information about the PPP Forgiveness program and its application procedure is listed at https://www.sba.gov/funding-programs/.
3. Wisconsin Small Business Grants
The Wisconsin Small Business Grants portal provides information about all the grants and financial solutions available for small businesses in Wisconsin.
The Wisconsin Small Business Grants offer over $20,000 million in funds with additional funds of $9,000 from government-backed agencies. All these grants are available for small enterprises affected due to coronavirus.
The portal updates the list regularly as new grants come in. Small enterprises should bookmark this page for regular updates about new grants.
Explore the available grants on the portal, avail the information, and choose the one that suits your requirements.
4. Covid-19 Economic Injury Disaster Loan
Small Business Administration offers Covid 19 Economic Injury Disaster Loan to affected businesses due to the pandemic. This program is backed by the government to support small businesses with minimum financial support.
The program provides accessible and borrower-friendly loans with easy repayment options. The low-interest loans, loan forgiveness applications, and all the other useful information are available on their official portal.
The deadline for Covid 19 Economic Injury Disaster is approaching. You are requested to proceed further with the application process to get qualified for the loan or for the grant money that is still available.
Besides Economic Injury Disaster Loan, the same portal offers Targeted Economic Injury Disaster Loans and Supplemental Targeted Advance programs for small businesses. All of these programs end in December month.
5. Wisconsin Small Business Development Center
The Wisconsin Small Business Development Center works collaboratively with government agencies and private organizations to provide much-needed support to all types of enterprises. The organization focuses more on small enterprises to strengthen the economy of the state.
Since the condition of businesses across the globe is changing, the Wisconsin Small Business Development Center has launched a dedicated webpage for all the enterprises operational in Wisconsin.
This webpage gives all the information about the active grants, loans, and guidelines that you may want to know.
The official webpage shows how you can avail of the grants along with the detailed application process. Find out more about the SBA grants, PPP programs, etc., from this single webpage. It contains all the resources that you can explore to receive financial aid.
The best thing about this organization is they have a team of executives who are always ready to help you resolve your queries.
You can reach out to them over a phone call or can write an email regarding your queries and requirements.
The Bottom Line:
Wisconsin’s Small Business industry is growing rapidly as there are numerous funding opportunities present for them.
This article explains what types of grants and loans are available for small enterprises in Wisconsin.
Explore all the resources available, know about their application process and basic requirements, and apply for a suitable grant or loan for your small enterprise now!
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