Phase 2 of “We’re All In” Grants for Small Businesses Opens Next Week
As WEDA reported last week, the Evers Administration and WEDC have announced the release of an additional $50 million in CARES Act funds for a second round of “We’re All In” grants for Wisconsin small businesses. The second phase of the program will provide $5,000 grants to 10,000 businesses to help with pandemic-related costs, including health and safety improvements, wages and salaries, rent, mortgages and inventory.
While the new round of grants will make funding available to companies that were awarded Phase 1 grants, priority will be given to applicants that did not receive funding during Phase 1, as well as ethnic minority-owned businesses and businesses in industries most impacted by the pandemic.
The “We’re All In” Small Business Grant application portal on the WI Department of Revenue (DOR) website opens at 8:00am on Monday, October 19 and closes at 11:59pm on November 2. The application process for phase 2 grants will be streamlined though the DOR site and will be easier for small businesses to navigate. Unlike phase 1 grants, small businesses will not be required to upload documents or submit a letter of support from a local community organization. They need to make certain they filed a 2019 tax return and then simply enter their tax ID into the grant application.
Applicants will also need to provide the North American Industry Classification System (NAICS) code that best matches their business. This information may be reported on their tax return. The application will help businesses search for appropriate NAICS codes, which can also be found at naics.com/search/.
Please CLICK HERE to review the “We’re All In” Phase 2 Grants FAQ page on the DOR website.
- A business may apply for the “We’re All In” Small Business Grant if:
- The business started operating prior to January 1, 2020 and operated in 2020
- The business is Wisconsin-based and for-profit;
- The business employs 50 or fewer full-time equivalent (FTE) employees, including the owner;
- The business has more than $0 but less than $1 million in annual revenues.
- For 2019, the business must have had 75% of their labor costs and assets in Wisconsin.
- Businesses will not be eligible for the grants if:
- The business is part of a national chain, unless it is a third-party franchise;
- The business is a governmental unit or primarily engaged in any of the following North American Industry Classification System (NAICS) codes beginning with:
- 111XXX – Crop Production
- 112XXX – Animal Production or Aquaculture
- 5311XX – Lessors of Real Estate
- 813XXX – Nonprofit Organizations
- DOR will notify applicants if their application is denied. After all eligible applications are reviewed, applicants will receive an email by November 23 confirming whether they will receive a grant.
- DOR will issue grant payments on December 4.