WWBIC to Launch The City of Appleton COVID-19 Small Business Relief Grants Program

WWBIC to Launch The City of Appleton COVID-19 Small Business Relief Grants Program

by | Jan 5, 2021 | News, Partners, Press Releases, Resources, Uncategorized

WWBIC to Launch The City of Appleton COVID-19 Small Business Relief Grants Program

For Immediate Release: WWBIC to Launch The City of Appleton COVID-19 Small Business Relief Grants Program 

The Wisconsin Women’s Business Initiative Corporation (WWBIC) has received funding from the City of Appleton 2020 CDBG-CV1 allocations to launch the City of Appleton COVID-19 Small Business Relief Grants Program to assist small and micro business owners whose business has been negatively impacted by the COVID-19 pandemic/economic crisis.

The City of Appleton has approved $40,000  for small business assistance grants. These dollars will be able to assist four (4) existing businesses in the City of Appleton in the amount of $10,000. Grants can be used for assistance with, but not limited to, payroll, rent, utilities, inventory, reopening costs, or physical modifications for the space to align with COVID-19 Guidance.

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 bit.ly/appletonreliefgrants.

Funds will be targeted to for-profit, existing small businesses (not a start-up) located in the City of Appleton where the business has 20 or fewer full-time equivalent employees, including the owner. Interested small business owners, please review all requirements for eligibility and all documents needed for the application at: bit.ly/appletonreliefgrants.

When will the application be available?  

The application will be available on Wednesday, January 20th, 2021 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 Wednesday January 27th , 2021.

For additional information or questions about applying for the City of Appleton COVID-19 Small Business Relief Grants Program, please contact Julie Stoffel Julie.stoffel@wwbic.com  | 920.944.2710

City of Milwaukee/WWBIC to Launch Small Business COVID-19 Forgivable Loan Program

City of Milwaukee/WWBIC to Launch Small Business COVID-19 Forgivable Loan Program

by | Oct 30, 2020 | Press Releases, Resources, Uncategorized, WWBIC

City of Milwaukee/WWBIC to Launch Small Business COVID-19 Forgivable Loan Program

The City of Milwaukee along with the Wisconsin Women’s Business Initiative Corporation (WWBIC) is launching the City of Milwaukee Building Resiliency Small Business Assistance Forgivable Loan Program to assist micro and small businesses impacted by the COVID-19 crisis.

$1,000,000 has been approved by the Common Council for small business forgivable loans – up to $15,000. These dollars will be able to assist a minimum of 57 businesses in the City of Milwaukee.

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

How will this program work and who’s eligible?  

WWBIC will be handling the application, underwriting and distribution of the forgivable loans, as well as follow up business coaching and mentorship opportunities. All information about the City of Milwaukee Building Resiliency forgivable loan product is available on WWBIC’s website at bit.ly/mkeforgivableloan

Funds will be targeted to micro and small businesses (20 or less employees) located in the City of Milwaukee that retain or create a minimum of one job for a low-to-moderate income individual or to micro business owners whose individual household income is below 80% of the Milwaukee County Area Median income. Income information can be found on WWBIC’s website. Job creation can be accomplished by re-hiring or bringing an employee who has been laid off back to work.

Interested small business owners, please review all requirements for eligibility and all documents needed for the application at bit.ly/mkeforgivableloan

When will the application be available?  

The application will be live on Friday, November 13th 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 11:59 PM on Sunday, November 22nd.

“We know that we are in the midst of more than just a public health crisis; we face an enormous economic crisis that’s affecting workers and business owners,” said Mayor Tom Barrett. “In addition to the City’s Restart grant program, we are partnering with the Wisconsin Women’s Business Initiative Corporation on the Building Resiliency Small Business Assistance Forgivable Loan Program to thoughtfully distribute our federal CARES Act dollars and provide much needed assistance to local businesses as they weather the effects of the COVID-19 pandemic.”

“WWBIC has been on the front economic development line since the health crisis began. These funds from the City of Milwaukee will truly support and advance the economic and financial healing of many micro and small businesses in Milwaukee. We are thrilled to serve here,” said Wendy K. Baumann, WWBIC President/CVO.

For additional information or questions about applying for the City of Milwaukee Building Resiliency Small Business Assistance Forgivable Loan Program, please contact Thalia Mendez at thalia.mendez@wwbic.com or (414) 395-4545.

 

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

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SBA Awards Three Wisconsin Organizations $528,000 in PRIME Grants to Help Emerging Micro-Entrepreneurs Gain Access to Capital

SBA Awards Three Wisconsin Organizations $528,000 in PRIME Grants to Help Emerging Micro-Entrepreneurs Gain Access to Capital

by | Sep 30, 2020 | Partners, Press Releases, Uncategorized, WWBIC

SBA Awards Three Wisconsin Organizations $528,000 in PRIME Grants to Help Emerging Micro-Entrepreneurs Gain Access to Capital

The Wisconsin Women’s Business Initiative Corp., ADVOCAP, and Northwest Side Community Development Corp. are set to receive grants from the U.S. Small Business Administration to help low-income entrepreneurs gain access to capital through the Program for Investment in Micro-Entrepreneurs, more commonly known as PRIME. This is a first-time award for Milwaukee-based NWSCDC. 

  • NWSCDC’s award of $140,000 will support entrepreneurs in its northwest Milwaukee service area that includes 19 Opportunity Zone census tracts. Willie Smith, executive director of NWSCDC responded to the award saying, “We’re thrilled to partner with SBA and serve more small businesses on Milwaukee’s northwest side. We have an energetic team that wants to help our neighbors start a business and grow their operation.”

 

  • ADVOCAP’s award of $188,000 will target rural low-income entrepreneurs with training and technical assistance services in Fond du Lac, Winnebago, and Green Lake counties. Kathy Doyle, ADVOCAP’s director for business development noted,
    “With this grant many of our entrepreneurs will have access to training, technical assistance and SBA micro-loan funds which will help them start, expand and grow their businesses.  Not only will this help entrepreneurs succeed but it will add jobs and revenue to our service area.”

 

  • WWBIC’s award of $200,000 will support technical assistance to disadvantaged entrepreneurs throughout the state. Chief Visionary Officer Wendy Baumann noted, “These funds specifically allow us to continue to work with very, very low- income communities and individuals.  WWBIC is proud to provide our quality business and financial programs and resources in Opportunity Zones, rural areas and HUBZones across Wisconsin – reaching deeper in our communities at promise.”

 

“These funds from the SBA will help these three Wisconsin small business champions make an impact on entrepreneurs trying to take their business to the next level and make it sustainable during this challenging time,” SBA Great Lakes Regional Administrator Rob Scott said. “This business development also will make an impact on local economies and help spur economic development and job creation in distressed areas, which is a key element of SBA’s strategy.”

Wisconsin’s SBA District Director Eric Ness added, “Partners like these three organizations are crucial to SBA’s work of helping small businesses start, grow, expand, and recover. We look forward to seeing the impact of these funds on the small businesses they serve and working with them to leverage their impact.”

For 2020, the SBA placed special emphasis on projects designed to offer training and technical assistance to strengthen economically disadvantaged businesses, particularly those projects serving entrepreneurs in Opportunity Zones, rural areas and Historically Underutilized Business Zones. The 30 PRIME grant recipients represent 19 states and 23 are in Opportunity Zones created by the Tax Cuts and Jobs Act of 2017 and designed to spur new capital investment in America’s economically distressed communities. Nearly 9,000 communities in all 50 states, the District of Columbia, and five territories are designated as Opportunity Zones.

This year more than 120 organizations applied for PRIME grants, which range from $75,000 to $250,000, and typically require at least 50% in matching funds or in-kind contributions. PRIME was created by Congress as part of the Program for Investment in Microentrepreneurs Act of 1999. Grant funds will be made available on September 30, 2020, and the project period for each grant is one year.

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more visit www.sba.gov.

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

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

by | Sep 9, 2020 | News, Press Releases

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. At the moment, there is no deadline and applications will be open until further notice.

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

by | Aug 24, 2020 | Partners, Press Releases

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

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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

by | Aug 6, 2020 | Press Releases, Resources, Uncategorized

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.   

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