WEDC provides $40.7 million in COVID-19 grants to 16,300 businesses
The money helps small businesses with costs of interrupted business or additional safety measures
MADISON, Wis. (WBAY) - The Wisconsin Economic Development Corporation (WEDC) announced Wednesday it approved $40.7 million in grants to help almost 16,300 businesses affected by the COVID-19 pandemic.
The WEDC says more than 30,500 businesses applied last month for the “We’re All In” Small Business Grant. The money can be used for wages and salaries, rent or mortgages, inventory, health and safety improvements and other costs related to the pandemic and the interruption of business.
Most of the money comes from the federal CARES Act.
The agency already distributed $27.4 million to 11,000 businesses and is in the process of distributing the other $13.3 million to the remaining 5,300.
Businesses that qualify need to have fewer than 20 full-time employees and no more than $1 million in annual revenue. They also need to agree to safety protocols for protecting customers and employees.
About 14,000 applications were not approved, but the WEDC says in the second phase of the grant program it’s working with those businesses to get additional information to see if they qualify.
The WEDC says “We’re All In” is the largest grant program exclusively for small businesses since the agency was established in 2011.
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