WWBIC Invest in Business Grant

• Grants up to $10,000 based on need are available
• $3 million in aggregate grants will be awarded

WWBIC reserves the right to negotiate, limit, or amend awards according to the program’s objectives.

• Business owner is a documented WWBIC client that utilized WWBIC services in 2020, 2021 or 2022 (including those trained, counseled, received loan/grant or services through a WWBIC initiative such as and including Kiva, Mercado, Black Business Boost or VBOC)
• Business has sustained negative financial impact due to COVID-19
• Business is located in Wisconsin and the owner participates in the day-to-day operations of the business
• Business is a for-profit
• Business needs to be in good standing with the State of Wisconsin and current on all local, state and federal taxes
• Business needs to be open and operational with revenue generation since 2021. Supporting tax documentation is required. (If business was started in 2022 or 2023 you are not eligible to apply)
• Business needs to have all necessary permits, licenses, certificates or other approval, governmental or otherwise, necessary to operate its business and own and use its assets
• Business needs to not be listed on the State of Wisconsin Ineligible Vendors Directory or listed on the Wisconsin Department of Transportation Listing of Debarred, Suspended and Ineligible Contractors
• Grant use of funds is nonduplicative and business cannot obtain other funding for the same expense

Note: The Invest in Business Grant is a stand-alone product, it does not need to be coupled with a loan

• Payroll/Benefits
• Lease/Mortgage/Incubator Payment
• Leasehold Improvements
• Equipment Purchase, Inventory, or Supplies
• Marketing
• Other Working Capital

Note: Grants cannot be used for personal expenses

Applications will be reviewed in the order they are received and will be equitably considered based on program goals. WWBIC’s goal is to award grants and process the one-time disbursement as expeditiously as possible. Processing will be continual until grant funds are expended.

Note: We expect being oversubscribed with applications for consideration and will communicate via email with all applicants when the application closes to share details on number of applications received the review process, expected timeline and supporting documentation needed to issue the grants

As applications are reviewed businesses meeting the requirements will be contacted to provide additional documentation.

1. Businesses will need to provide updated employee information forms for themselves and their business employees
   • Note: As a nonprofit, WWBIC must obtain data on our clients and businesses served to measure impact of our services
2. Business will need to attest if awarded this grant, that they have not received funding for the same expense from another funding source.
3. Business needs to agree to supply receipts/documentation to WWBIC as soon as possible, no later than 3 months, after receiving the grant funds to substantiate their expenses for their use of funds.
4. Business needs to agree to have grant funds deposited electronically via ACH in their business bank account; W9 and ACH Business Banking information will be needed.
5. Business needs to acknowledge that acceptance of grant funding could have tax implications; please consult your tax advisor. Recipients will receive 1099 documents reflecting their grant award.
6. Owner will need to provide a copy of a photo ID  and proof of business ownership (operating agreement, bylaws or sole member affidavit)

Please note:  If business is unresponsive after several contact attempts or unable to supply needed documentation within a 14-day period they voluntarily remove themselves from award consideration.