$5 million grant program will assist “smallest of the small” businesses around state
MADISON, WI. March 18, 2020 – In another step toward assisting small businesses that suffer losses related to the COVID-19 health emergency, the Wisconsin Economic Development Corporation (WEDC) is creating a program to provide grants to targeted businesses throughout the state, WEDC Secretary and CEO Missy Hughes announced today.
The WEDC Board of Directors on Tuesday approved $5 million in funding for the program, which will be known as Small Business 20/20 (SB20/20). SB20/20 will provide grants of up to $20,000 to targeted businesses with no more than 20 employees to cover rent and to meet payroll expenses, including paid leave (including sick, family and other leave related to COVID-19).
“This is an important first step by WEDC in helping small businesses in our state and their employees who are facing lost revenues, missed paychecks and other uncertainty due to COVID-19,” said Governor Tony Evers. “As the impacts of COVID-19 continue to be felt, we will be relying on WEDC to develop additional innovative programs to meet the needs of our state.”