STEVENS POINT, WI (WSAU) — Governor Tony Evers has announced a portion of the state’s American Recovery Act funding will be distributed to thousands of small businesses in the form of $5,000 grants to help with expenses from the COVID-19 pandemic.
Mark Speirs with the Small Business Development Center at the University of Wisconsin – Stevens Point says anyone who was able to stay open through the last year should try for the funding. “If you were in business in 2019 and made over $10,000 I would suggest going up on the DOR (Department of Revenue) website and reading up on the requirements. If you think you qualify then apply. It doesn’t hurt to apply.”
The application for the funding is live at the DOR website and Speirs says it is fairly straightforward. Businesses do have to upload 2019 tax information showing revenue between $10,000 and $7 million to qualify.
“Once you get to the website it walks you through the questions page-by-page [so] it’s fairly straightforward,” added Speirs.
According to Evers’ office, as many as 84,000 of the grants will be distributed with each business receiving $5,000- a total of $420,000,000. The funds can be used for any sort of business expense such as payroll, rent, inventory, or health and safety requirements. The application period closes June 7th, those who qualify should then get their funds by the end of June either via check or direct deposit.
Speirs says if you need assistance with the forms his office can help. The Small Business Development Center in Stevens Point assists over a dozen counties in Central Wisconsin.
