New grant helps nonprofits to assist diverse businesses

MADISON, WI. OCT. 19, 2022 – A new Wisconsin Economic Development Corporation (WEDC) grant program aims to help nonprofit organizations working to support diverse businesses across Wisconsin.

The Ally Grants are designed to support nonprofit organizations working on business support and development with underrepresented entrepreneurs and business owners, including women, veterans, people of color, people with disabilities and members of the LGBTQ community.

“Wisconsin’s entrepreneurs and innovators need access to a wide variety of resources and support as they build their businesses,” said Missy Hughes, secretary and CEO of WEDC, the state’s lead economic development organization. “Some communities have historically not had equal access to those resources. Nonprofits across Wisconsin are working to expand that access and these grants are one way we can support that effort.”

WEDC expects to award $225,000 in competitive grants to at least nine nonprofits working in diverse business development this fiscal year. Eligible applicants may not have received prior funding from WEDC.

Applications for the grants will be accepted through Dec. 15.

Nonprofits must be able to demonstrate how the grant will allow the group to build operational stability to continue and grow their support of diverse businesses. Only nonprofit organizations are eligible.  Grants will not be awarded to individuals.

More information on the grants and how to apply can be found here: https://wedc.org/programs-and-resources/ally-grant/.

WEDC has been serving diverse business organizations since its inception in 2011, investing more than $10 million in groups statewide working to improve access to financing and resources for diverse businesses.

While other WEDC grants and programs are available to support diverse business development, WEDC is adding the Ally Grant to offer growing nonprofits grant funding to build sustainability and enhance their operations.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.