WEDC launches pilot grant program for organizations to help small businesses

MADISON, WI. SEPT. 5, 2024 – Organizations looking to develop innovative programs aimed at supporting small businesses can apply now for a Small Business Development Grant (SBDG) from the Wisconsin Economic Development Corporation (WEDC).

Grant amounts will vary but will range from $50,000 to $250,000. The competitive grants will be awarded to local and regional economic development organizations, municipalities, tribal governments, and counties to support small business development and creation. These organizations will pass 100% of the SBDG funds on to small businesses in their defined regions.

The deadline for applications is Oct. 18 and WEDC will announce grant award winners in early 2025.

“Small businesses play a vital role in communities across Wisconsin, but sometimes they need a little extra boost,” said Missy Hughes, secretary and CEO of WEDC, the state’s lead economic development agency. “With these grants, local organizations will be able to provide small business owners with an opportunity to thrive.”

The SBDG program builds on the success of WEDC’s popular Main Street Bounceback program, which provided nearly $95 million in grant funding to almost 9,500 businesses across all 72 counties in 2021-2022.

The SBDG is a pilot program and for fiscal year 2025 it has a budget of $2 million. Grants will be awarded to a maximum of 40 communities.

For more information about the SBDG program, visit: https://wedc.org/programs/small-business-development-grant/

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.