Explore the top small business grants in Wisconsin, including detailed descriptions, benefits, eligibility criteria, and application portals. Empower your business growth with these funding opportunities.
Small business owners in Wisconsin often face challenges when trying to fund their operations or growth plans. Fortunately, various grants are available to provide financial assistance without repayment obligations. These grants can make a significant difference, especially for startups and businesses aiming to expand, innovate, or recover from setbacks.
This article provides a detailed look at small business grants in Wisconsin, including their benefits, eligibility requirements, and application processes. Whether you’re a new entrepreneur or an established business owner, understanding these funding opportunities can help you make informed decisions for your business’s future.
Quick Facts About Small Business Grants in Wisconsin
| Grant Name | Key Details |
|---|---|
| Wisconsin Tomorrow Small Business Recovery Grant | Designed to help businesses recover from COVID-19 impacts. Applications: https://doa.wi.gov/Pages/WisconsinTomorrow.aspx |
| SBIR/STTR Grant Match Program | Provides matching funds for federal grant recipients. |
| Main Street Bounceback Grants | Supports businesses moving into vacant commercial spaces. Applications: https://wedc.org/programs-and-resources/main-street-bounceback-grants/ |
| Rural Development Grant | Supports rural businesses for expansion and job creation. |
| Targeted Business Fund | Assists minority-owned, women-owned, and veteran-owned businesses. |
Key Takeaways
- Wisconsin offers various grants catering to diverse business needs, from recovery to expansion.
- Each grant has specific eligibility requirements, ensuring targeted support.
- Applications are generally straightforward, but understanding the criteria is crucial for success.
Available Small Business Grants in Wisconsin
1. Wisconsin Tomorrow Small Business Recovery Grant
The Wisconsin Tomorrow Small Business Recovery Grant was introduced to help small businesses recover from the economic effects of the COVID-19 pandemic.
Benefits:
- Offers up to $5,000 per business.
- Can be used for operational costs like payroll, rent, or utilities.
Eligibility Criteria:
- Must be a for-profit business operating in Wisconsin.
- Annual gross revenue must fall between $10,000 and $7 million.
- The business must demonstrate a negative financial impact from the pandemic.
Application Portal:
https://doa.wi.gov/Pages/WisconsinTomorrow.aspx
2. SBIR/STTR Grant Match Program
This grant matches federal funding received through the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs.
Benefits:
- Provides up to $100,000 in matching funds.
- Encourages innovation and research-focused businesses.
Eligibility Criteria:
- Applicants must have received an SBIR or STTR federal grant.
- The business must be located in Wisconsin.
Application Portal:
https://wedc.org/programs-and-resources/sbir-sttr/
3. Main Street Bounceback Grants
This program supports businesses moving into vacant commercial properties, fostering economic revitalization in Wisconsin communities.
Benefits:
- Grants of $10,000 per business.
- Encourages business activity in underutilized spaces.
Eligibility Criteria:
- Must be a for-profit or non-profit organization.
- Must sign a new lease or purchase agreement for a vacant commercial property.
- Businesses must meet local zoning and licensing requirements.
Application Portal:
https://wedc.org/programs-and-resources/main-street-bounceback-grants/
4. Rural Development Grant
Offered through the USDA, this grant supports rural businesses looking to expand or create new jobs.
Benefits:
- Flexible funding options for equipment, land acquisition, or business expansion.
- Promotes economic growth in rural areas.
Eligibility Criteria:
- Must operate in a rural area as defined by the USDA.
- Must meet job creation or economic development goals.
Application Portal:
https://www.rd.usda.gov/wi
5. Targeted Business Fund
This grant focuses on supporting businesses owned by minorities, women, or veterans.
Benefits:
- Provides grants ranging from $5,000 to $50,000.
- Enhances inclusivity in Wisconsin’s business ecosystem.
Eligibility Criteria:
- Business owners must belong to a targeted demographic group.
- The business must demonstrate financial need or plans for expansion.
Application Portal:
https://wedc.org
6. Wisconsin Economic Development Corporation (WEDC) Grants
WEDC provides various funding opportunities to support Wisconsin businesses, including those involved in manufacturing, tourism, and technology. These grants can help businesses with expansion, innovation, or workforce development.
Benefits:
- Offers various funding amounts depending on the program.
- Helps businesses enhance their operations, create jobs, or invest in innovation.
Eligibility Criteria:
- Must be a for-profit business operating in Wisconsin.
- Must meet the specific eligibility requirements of the particular grant program.
Application Portal:
https://wedc.org
7. Main Street Revitalization Grant
This grant is designed to help communities and businesses in downtown areas improve their infrastructure and foster economic development. It’s part of a broader effort to support small businesses and local economies in Wisconsin’s main street districts.
Benefits:
- Grants can range from $10,000 to $100,000.
- Supports the development of infrastructure and public spaces, increasing the potential for local economic growth.
Eligibility Criteria:
- The project must be in a designated Wisconsin Main Street Community.
- The business or project must involve improving local infrastructure, public spaces, or other business enhancements.
Application Portal:
https://wedc.org/programs-and-resources/main-street-revitalization-grant/
8. Business Development Tax Credit
The Business Development Tax Credit is a program that offers incentives to businesses that contribute to job creation and economic growth in Wisconsin. These credits can be applied toward taxes owed to the state.
Benefits:
- Offers significant tax credits for businesses expanding or creating jobs in Wisconsin.
- Can help reduce the overall tax burden for growing businesses.
Eligibility Criteria:
- Must be a business that is expanding or creating new jobs in Wisconsin.
- Business must meet specific job creation or investment thresholds.
Application Portal:
https://wedc.org/programs-and-resources/business-development-tax-credits/
9. Technology Development Fund (TDF)
The Technology Development Fund is a grant offered by WEDC to help Wisconsin businesses develop and commercialize new technologies. It supports businesses in the research and development (R&D) phase by providing funds to take innovations to the next stage.
Benefits:
- Provides up to $500,000 in grant funding.
- Focuses on businesses working on innovative, tech-driven solutions.
Eligibility Criteria:
- Must be a for-profit business in Wisconsin.
- The business must be focused on technology development or innovation.
Application Portal:
https://wedc.org/programs-and-resources/technology-development-fund/
10. Workforce Training Grant
The Workforce Training Grant supports businesses looking to invest in their workforce by providing funds for employee training and development. This grant is ideal for businesses looking to upgrade their employees’ skills or increase workforce productivity.
Benefits:
- Provides funding for employee training, skill development, and educational programs.
- Can cover up to 50% of training costs.
Eligibility Criteria:
- Must be a for-profit business based in Wisconsin.
- Business must have a workforce training need that can be addressed with the grant funds.
Application Portal:
https://wedc.org/programs-and-resources/workforce-training-grants/
Conclusion
Wisconsin offers a wealth of grants tailored to support its small businesses. Whether you’re recovering from economic challenges, innovating in your industry, or expanding your operations, these grants can provide the financial boost you need.
From grants for rural businesses to those supporting minority and veteran-owned companies, there is a program for nearly every type of small business. Be sure to visit the respective application portals to get started and maximize the potential of your business.
FAQs
1. What is the best small business grant in Wisconsin for startups?
The SBIR/STTR Grant Match Program is ideal for startups focused on innovation and technology, especially if they qualify for federal grants.
2. Are there grants for rural businesses in Wisconsin?
Yes, the Rural Development Grant supports rural businesses with funding for expansion and job creation.
3. How can I apply for the Wisconsin Tomorrow Small Business Recovery Grant?
You can apply online through the Department of Administration’s portal at https://doa.wi.gov/Pages/WisconsinTomorrow.aspx.
4. Are there specific grants for minority-owned businesses?
The Targeted Business Fund offers grants to minority, women, and veteran-owned businesses in Wisconsin.
5. Can non-profits apply for business grants in Wisconsin?
Yes, some grants, such as the Main Street Bounceback Grants, are available for non-profits moving into vacant commercial spaces.
