Local Impact of the We’re All In grant
Posted by adminALT on July 27th, 2020
Over 1,100 Chippewa Valley small businesses applied and were granted federal relief funds to help with reopening and installing safety measures at the workplace. The Wisconsin Economic Development Corporation (WEDC) was tasked with dispersing federal funds allocated in the CARES Act, to aid local small businesses. Grants were given in $2500 increments to local small businesses that applied and met the qualifications. Although the grant dollar amount is not huge, the local impact of the grant program is significant.
- 567 grants applied in Eau Claire County
- $1,417,500 will be deposited into the accounts of Eau Claire County business owners by August 1, 2020
- 1,192 grants applied for from Chippewa Valley businesses (Eau Claire, Chippewa, Dunn Counties)
- $2,980,000 will be deposited to Chippewa Valley business owners by August 1, 2020
The purpose of the We’re All in Grant is to disperse federal aid funds to the smallest small businesses (less than 20 full-time employees) in Wisconsin, some business owners who may not have qualified or applied for the other SBA relief loan programs. The name We’re All In is intended to create unity among Wisconsin business owner’s commitment to safety and getting their business back open.
Now that funds are getting deposited, acceptable uses of this money is any operating costs, including but not limited to wages and salaries, rent, mortgages and inventory; and/or for health and safety improvements. There will be an accountability form to fill out and submit to WEDC later in the fall.
This is a big deal! Look at the figures above, those are funds that will likely get spent locally on services, payroll or products by neighbor businesses. This grant may not be close to recouping economic losses caused by the pandemic; it is still a big deal for the Chippewa Valley economy during trying times.