June 10, 2020
We know things have been difficult for many Wisconsin small businesses, but today we are bringing you some potential good news! The Wisconsin Economic Development Corporation (WEDC) announced that it will award 30,000 businesses with $2,500 grants to help with payroll, rent, mortgage, inventory, the cost of business interruption, and health and safety improvements.
These grants will go to businesses that meet the following eligibility requirements:
- Business must be Wisconsin-based and for profit
- Business cannot have more than 20 employees, including the owner
- Business must have annual revenues greater than $0 but less than $1 million
- Business must have started operating before January 1, 2020, and have been in business in February 2020
The grant application will be available at 8am on Monday, June 15, and it will be open through June 21, 2020, at 11:59pm. A link will be posted on the WEDC webpage.
In order to apply, you will need to have several documents on hand:
- 2018 or 2019 federal tax return for business
- Signed and dated W-9 form, which is available at www.irs.gov/pub-pdf/fw9.pdf
- Letter from a community organizer indicating that you were operating in February 2020 (More information along with sample text for the letter can be found here.)
If you have more questions, the WEDC addresses many FAQs on their website. If you cannot find your answer there, they also provide a link to contact them as well as a phone number.
|IMPORTANT DISCLAIMERS: |
1. The information above does not constitute legal advice, nor does it create an attorney-client relationship. Please consult your attorney with specific questions.
2. As this situation is constantly changing, we will make every effort to stay current on this topic, however this information is provided as general guidance and may not apply to your situation, nor should it be relied upon exclusively. Please consult and confirm with your attorney if you have questions about these updates or their applicability.
3. In some jurisdictions this communication/website might constitute legal advertising. The choice to hire an attorney who is right for your business should not be made based solely upon advertisements. If you would like to learn more about our firm, please click here to learn about our firm and how to contact us.
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