WWBIC Launches a Fox Valley Region COVID-19 Rural Business Revival Grants Program

WWBIC Launches a Fox Valley Region COVID-19 Rural Business Revival Grants Program

WWBIC Launches a Fox Valley Region COVID-19 Rural Business Revival Grants Program

The Wisconsin Women’s Business Initiative Corporation (WWBIC) is launching a COVID-19 Rural Business Revival Grants Program in the Fox Valley region of Wisconsin to assist single mothers who are racial and ethnic minorities who own micro and small businesses that have been disproportionately impacted by the COVID-19 economic crisis.

Micro and small business assistance grants up to $5,000 will be made available to help a minimum of five eligible business owners in rural areas of Outagamie, Calumet, Shawano and Waupaca counties.

Funding for the program comes from the COVID-19 Community Response Fund established by the Community Foundation for the Fox Valley Region and United Way Fox Cities, with additional generous donations from the community.

“WWBIC understands that entrepreneurs who are also single mothers and racial and ethnic minorities in rural communities have suffered disproportionately from the COVID-19 crisis. These individuals face barriers in accessing traditional financing and resources. While relief efforts have helped, small business revenues remain low. We feel that this upheaval will lead to potentially devastating impact on small businesses in underserved communities as they reach out to us for support amid business closures and economic downturns. This grant identifies that segment of our small business community is in great jeopardy of experiencing catastrophic outcomes that could spill over into our neighborhoods.” – Julie Stoffel

How will this program work and who is eligible?

WWBIC will be handling the application and distribution of the grants, as well as follow up business coaching and mentorship opportunities. All information about the program will be this grant is available on WWBIC’s website, wwbic.com/foxvalleyrevivalgrants, on Wednesday, September 9th at 10am. The application will remain open until 11:59 pm on Wednesday September 30th.

Funds will be targeted to for-profit, existing micro and small businesses (not a start-up) where the applicant is a racial or ethnic minority who is a single mother and owns at least 50% of the business. Businesses must operate in rural areas of Outagamie, Calumet, Shawano and Waupaca counties.

For additional information or questions about the program, please contact Julie Stoffel at Julie.stoffel@wwbic.com or 920.944.2710

About WWBIC Wisconsin Women’s Business Initiative Corp. (WWBIC) is a leading, innovative economic development corporation “Putting Dreams to Work.” WWBIC’s primary focus is on women, people of color, veterans and low income individuals, providing direct lending and access to fair and responsible capital, quality business education, one-on-one technical business assistance and education to increase financial capability. Since 1987, WWBIC has lent over $77 million in micro and small business loans with a current loan portfolio of $24 million and over 570 active borrowers. To learn more about WWBIC visit: www.wwbic.com

Micro and small business assistance grants up to $5,000 will be made available to help a minimum of five eligible business owners in rural areas of Outagamie, Calumet, Shawano and Waupaca counties.

Funding for the program comes from the COVID-19 Community Response Fund established by the Community Foundation for the Fox Valley Region and United Way Fox Cities, with additional generous donations from the community.

“WWBIC understands that entrepreneurs who are also single mothers and racial and ethnic minorities in rural communities have suffered disproportionately from the COVID-19 crisis. These individuals face barriers in accessing traditional financing and resources. While relief efforts have helped, small business revenues remain low. We feel that this upheaval will lead to potentially devastating impact on small businesses in underserved communities as they reach out to us for support amid business closures and economic downturns. This grant identifies that segment of our small business community is in great jeopardy of experiencing catastrophic outcomes that could spill over into our neighborhoods.” – Julie Stoffel

How will this program work and who is eligible?

WWBIC will be handling the application and distribution of the grants, as well as follow up business coaching and mentorship opportunities. All information about the program will be this grant is available on WWBIC’s website, wwbic.com/foxvalleyrevivalgrants, on Wednesday, September 9th at 10am. The application will remain open until 11:59 pm on Wednesday September 30th.

Funds will be targeted to for-profit, existing micro and small businesses (not a start-up) where the applicant is a racial or ethnic minority who is a single mother and owns at least 50% of the business. Businesses must operate in rural areas of Outagamie, Calumet, Shawano and Waupaca counties.

For additional information or questions about the program, please contact Julie Stoffel at Julie.stoffel@wwbic.com or 920.944.2710

About United Way Fox Cities

United Way Fox Cities improves lives by bringing diverse people together to build a stronger, more caring community for everyone. To fulfill our mission, we work with partner agencies and programs that help us address critical issues in the Fox Cities.

About Community Foundation for the Fox Valley Region

The Community Foundation for the Fox Valley Region brings people together to think about the community’s vision for well-being and ways to help solve problems that lead to greater flourishing for all.

About WWBIC

Wisconsin Women’s Business Initiative Corp. (WWBIC) is a leading, innovative economic development corporation “Putting Dreams to Work.” WWBIC’s primary focus is on women, people of color, veterans and low income individuals, providing direct lending and access to fair and responsible capital, quality business education, one-on-one technical business assistance and education to increase financial capability. Since 1987, WWBIC has lent over $77 million in micro and small business loans with a current loan portfolio of $24 million and over 570 active borrowers. To learn more about WWBIC visit: www.wwbic.com

Charter invests $1 Million in WWBIC to lend to small businesses in underserved Wisconsin communities

Charter invests $1 Million in WWBIC to lend to small businesses in underserved Wisconsin communities

Charter invests $1 Million in WWBIC to lend to small businesses in underserved Wisconsin communities

Charter Communications, Inc. today announced the Spectrum Community Investment Loan Fund (Loan Fund) has invested $1 million in the Wisconsin Women’s Business Initiative Corp (WWBIC), which will lend to individuals starting or expanding a small business within Charter’s Wisconsin service area. The Loan Fund focuses on making loans through Community Development Financial Institutions (CDFIs) to small businesses whose goods and services help meet core needs in underserved communities within Charter’s 41-state operating footprint.

“Charter is investing in the communities where our customers and employees live and work, and we are excited to partner with WWBIC to make available vital economic resources to small business owners in Wisconsin,” said Jeff Buller, Charter Vice President overseeing the Loan Fund. “In addition to the capital to fund vital low interest small business loans, Charter is also providing a grant that makes available assistance programs and training for small business owners in Wisconsin.”

WWBIC is a leading innovative statewide economic development corporation that’s been “Putting Dreams to Work” in Wisconsin since 1987. Opening the doors of opportunity by providing access to critical resources such as responsible financial products and quality business and financial education. WWBIC focuses on individuals who face barriers in accessing traditional financing or resources including women, people of color, veterans and low-income individuals.

“WWBIC is thrilled with this new investment through Charter,” said Wendy Baumann, WWBIC President. “Such capital investments allow WWBIC to continue advancing our access to responsible capital and enable us to grow and serve more entrepreneurs and business owners.”

In February, Charter launched the Loan Fund committing to invest $10 million in capital by the end of 2021. In June, with the addition of investment partnerships with the National Urban League (NUL) and National Action Network (NAN), Charter’s Loan Fund commitment increased to $13 million. Charter previously announced $1 million investments in Pursuit Community Finance in New York, PeopleFund in Texas, and the Economic and Community Development Institute (ECDI) in Ohio, $3 million in the National Urban League’s Urban Empowerment Fund (UEF), and an additional $3 million in low-interest loans directly to CDFIs in partnership with and as directed by NAN. Over the next year, the Loan Fund expects to invest an additional $3 million across CDFIs in California, Florida, and North Carolina.​

In addition to the loans, each CDFI receives a grant to fund technical assistance programs and professional training for small businesses to help establish sound business practices necessary for long-term growth and continuity. Some of these grants have recently been earmarked to support businesses impacted by COVID-19.

 

About Charter

Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 30 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice.

For small and medium-sized companies, Spectrum Business® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise provides highly customized, fiber-based solutions. Spectrum Reach® delivers tailored advertising and production for the modern media landscape. The company also distributes award-winning news coverage, sports and high-quality original programming to its customers through Spectrum Networks and Spectrum Originals. More information about Charter can be found at corporate.charter.com.

 

About WWBIC 

Wisconsin Women’s Business Initiative Corp. (WWBIC) is a leading, innovative economic development corporation “Putting Dreams to Work.” WWBIC’s primary focus is on women, people of color, veterans and low income individuals, providing direct lending and access to fair and responsible capital, quality business education, one-on-one technical business assistance and education to increase financial capability. Since 1987, WWBIC has lent over $77 million in micro and small business loans with a current loan portfolio of $24 million and over 570 active borrowers. To learn more about WWBIC visit: www.wwbic.com

Waukesha County and WWBIC to Launch Small Business COVID-19 Business Assistance Grants Program

Waukesha County and WWBIC to Launch Small Business COVID-19 Business Assistance Grants Program

Waukesha County and WWBIC to Launch Small Business COVID-19 Business Assistance Grants Program

Waukesha County through the Wisconsin Women’s Business Initiative Corporation (WWBIC) is launching the Small Business Assistance Grants Program to assist micro  businesses impacted by the COVID-19 crisis.   

$170,000 has been approved by the CDBG Board for small business assistance grants – up to $10,000. These dollars will be able to assist a minimum of 17 businesses in Waukesha County. 

The funds have been made available to Waukesha County from the U.S. Department of Housing and Urban Development (HUD) under the Federal CARES Act.  


How will this program work and who is eligible?  

WWBIC will be handling the application and distribution of the grants, as well as follow up business coaching and mentorship opportunities. All information about this grant is available on WWBIC’s website at wwbic.com/waukesha-cty-grant-program/

Funds will be targeted to micro enterprise (5 or less employees) businesses located in Waukesha County with business owners whose household income is below 80% of the Waukesha County Area Median. Income information can be found on WWBIC’s website.  The businesses located in the Villages of Chenequa, Lac La Belle and Oconomowoc Lake are not eligible to apply.  

Interested small business owners, please review all requirements for eligibility and all documents needed for the application at wwbic.com/waukesha-cty-grant-program/


When will the application be available?  

The application will be available on Friday, August 7th at noon. All applications will be reviewed in the order they are received (time stamped) and will be equitably considered. The application will remain open until noon on Friday, August 14th.

For additional information or questions about applying for the Waukesha County Grant Program, please contact Thalia Mendez tmendez@wwbic.com or 414-395-4545.   

WWBIC presents the Wisconsin Veteran’s Loan Fund

WWBIC presents the Wisconsin Veteran’s Loan Fund

WWBIC presents the Wisconsin Veteran’s Loan Fund

Veteran-owned small businesses play a significant role on the Wisconsin economy and WWBIC and the Wisconsins Veterans Chamber of Commerce have partnered to advance further support offerings through a newly created the Veteran’s Loan Fund.   During these unprecedented and unsettling times, support and resources for small businesses is needed now, more than ever, to aid with resiliency and sustainability for the long haul.

The WWBIC Veteran’s loan fund is for entrepreneurs and business owners needing business assistance and is open to Veteran business owners seeking capital to grow their businesses. The WWBIC Veteran’s Loan Fund offers loans up to $25,000 at a redudced interest rate, and can be combined with other WWBIC funding sources for a maximum $250,000 loan.

“We are thrilled that Bank of America is joining us with this new and additional investment to support our Veteran Entrepreneurs and Business Owners in Wisconsin.  These loan funds will prove helpful in providing that working capital and start up funds that are often difficult to secure.  This loan capital along with WWBIC’s business and financial education programming and support through our WWBIC Veteran’s Business Outreach Center (VBOC) will bode well with our strong partnership with the Veteran’s Chamber of Commerce.” Said Wendy Baumann, President and Chief Visionary Officer at WWBIC.

“WWBIC has been helping Veteran business owners for years and we are proud to carry on that tradition with our new loan offering. We thank all of our Veterans for their service and encourage veteran business owners to reach out and explore the possibilities of one of WWBIC’s primary focuses: lending responsible capital to Wisconsin Veteran owned businesses.” Said Michael Hetzel, Director of Lending at WWBIC.

“With more than 50,000 businesses owned by veterans in Wisconsin, our state’s economy depends on the success of veteran entrepreneurs and business owners. However far too many veteran entrepreneurs struggle to access the capital they need to successfully start and grow businesses due to their military service. Thanks to the leadership of WWBIC now they are empowered to realize their dreams. When veterans succeed, Wisconsin’s economy and our communities succeed as well.” Said Saul Newton, Executive Director Wisconsin Veterans Chamber of Commerce.

“With over 30,000 Veteran owned businesses in the state of Wisconsin, this investment will offer support and assistance to Veteran owned businesses throughout Wisconsin. . Veteran owned businesses make up nearly 11% of all the small businesses in Wisconsin. I am confident that The Wisconsin Veteran’s Loan Fund will be instrumental in assisting these businesses grow ” Said Dan Newberry, VBOC@WWBIC Co-director.

For additional details about the Wisconsin Veteran’s Loan Fund, please click here.

WWBIC COVID-19 Update

WWBIC COVID-19 Update

WWBIC COVID-19 Update

UPDATE: As of March 23, all WWBIC offices have been closed.

Greetings,

WWBIC is closely monitoring developments of the ongoing spread of coronavirus (COVID-19). Because we are a statewide organization, we have a responsibility to consider health crises that may affect areas of our reach in differing levels of emergency. We wanted to share an update on WWBIC programming and services in light of this situation.
 
 

WWBIC Offices
 
At this time, all WWBIC offices are open for business. However, as this situation is ongoing, we ask that you please reach out directly to our offices for information on potential closures or changes to regular business hours. Calling ahead is highly recommended. We will continue to share information on any changes and on how best to reach us during this time at the numbers
at the bottom of the page.
 
 

WWBIC Programming
 
At this time, WWBIC classes will all be changed from in-person to web based through April. Below is an initial list of our upcoming classes that had already been planned as webinars.
 
 
Over the next couple of days, we will be changing our in person classes to webinars. Please continue and check our website for the most current information in regards to our programming at www.wwbic.com/classes.
 
 

Disaster Relief Lending
 
The U.S. Small Business Administration has announced small business lending opportunities in the wake of COVID-19. The SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for a small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
 
For more information, please visit the SBA’s website here.
 

 
We appreciate your patience during this time. Our priority is and has always been maintaining the health and safety of our staff and our clients. While we remain open at this time, we advise that all individuals follow the precautions set by the CDC, making sure to wash your hands regularly and avoid larger crowds when possible.
 
 
Thank you and be well,
 
The WWBIC Team

 

WWBIC Greater Milwaukee/Waukesha: 414-263-5450

WWBIC Madison: 608-257-5450

WWBIC Racine: 262-898-5000

WWBIC Kenosha: 262-925-2850

WWBIC Appleton: 920-944-2700

WWBIC Green Bay Hub: 920-496-2110

WWBIC La Crosse: 608-632-8041

WWBIC Welcomes Diversity Driven Accelerator to Milwaukee

WWBIC Welcomes Diversity Driven Accelerator to Milwaukee

WWBIC Welcomes Diversity Driven Accelerator to Milwaukee

WWBIC is excited to announce the official launch of cohort one of the new “Diversity Driven Accelerator.” Modeled after the 2018-2019 WWBIC WEDC Growth Accelerator, which focused on Racine, Kenosha and Walworth County businesses, the Diversity Driven  Accelerator will support and grow businesses owned by minorities, veterans and women in Greater Milwaukee to help create jobs and strengthen neighborhoods.

The Diversity Driven Accelerator will consist of four intensive 11-week business accelerator programs made up of five business teams.  During the course of those 11 weeks, teams will develop their business models by engaging in consumer testing: Integrating input from customers, mentors and advisors.  At the end of the program, teams will present their pitches to qualify for a minimum of $500.00 seed grant. 

“The accelerator program has been very impactful to the thought process I have towards business. I found the content to be engaging, applicable, and relevant to any industry one endeavors to serve in. I think every potential business owner should participate in the accelerator program!” Donisha Nesbitt, Owner of CoveredCare Home Care Agency and Growth Accelerator participant.

The application can be found at bit.ly/wwbicaccelerator. Applications must be received no later than close of business Friday, December 6. The program is open to businesses and/or residents of the Greater Milwaukee area. The accelerator will start the week of January 6, 2020, exact date and time to be determined.

This initiative is made possible through the Wells Fargo Works For Small Business®: Diverse Community Capital program, which offers capital and technical assistance to minority-owned small businesses as a way to create local jobs and strengthen neighborhoods.

About WWBIC

Wisconsin Women’s Business Initiative Corp. (WWBIC) is a leading, innovative economic development corporation “Putting Dreams to Work.” WWBIC’s primary focus is on women, people of color and low income individuals, providing direct lending and access to fair and responsible capital, quality business education, one-on-one technical business assistance and education to increase financial capability.   Since 1987, WWBIC has lent over $60 million in micro and small business loans with a current loan portfolio of $18 million and nearly 500 active borrowers.