In response to the spread of pandemic, we’ve gathered some helpful resources to ensure you can connect with assistance that will help your business. View the areas below to connect with relevant resources.
Business Grants and other Resources …
The Diverse Business Assistance Grant- Wisconsin
The state of Wisconsin just announced two grant programs aimed at helping minority owned businesses. The Diverse Business Assistance Grant aims to help local chambers of commerce support underserved businesses in their community. The Diverse Business Investment Grant goes to lending institutions that will provide funding to underserved communities, specifically minority businesses with ten or fewer employees. The state is also offering direct grants through its Equitable Recovery program, with applications due November 5.
Fast Break for Small Business
The NBA and LegalZoom have teamed up to help underserved small business owners with $6 million in grants. This is a multi-year partnership, with the grant opportunity as the first official initiative. They’ll be made available twice per year for the next three years. And mentorship and job training are also available. The companies say the grants will specifically serve women, minority, immigrant, and LGBTQ+ owned businesses. Applications are due by November 23.
The Howard University and PNC National Center for Entrepreneurship
PNC Foundation and Howard University just announced a $16.8 million commitment to support minority entrepreneurs. The grant goes to the university, which will then provide educational resources and community connections to foster entrepreneurship. The partnership is set to span five years. And PNC has also committed to enhance the availability of loans to historically underserved business owners.
BREAKTHROUGH and Advancing Black Pathways
Almost 60 percent of women entrepreneurs believe they do not have adequate access to capital. There are opportunities for grants and financing. But it may be difficult to uncover these opportunities. So Bank of America now offers an access to capital directory to highlight these opportunities. This isn’t a grant in and of itself. But it can make it easier to find the applications that are relevant to your business.
Main Street Bounceback Grants
The Main Street Bounceback Grants program provides $10,000 to new or existing businesses and non-profit organizations moving into vacant properties in Wisconsin’s downtowns and commercial corridors. Funds can be used to pay leases or mortgages, operational expenses and other business costs related to the newly opened location. The program is open to new or existing businesses opening a new location or expanding operations in a vacant commercial where the lease commences, or sales contract closes, on or after January 1, 2021 and on or before June 30, 2022. Grant funds are available as part of the American Recovery Plan Act and will be distributed by WEDC’s regional partners. Businesses must apply through the partner organization for the region in which they are located.