KENOSHA — On Wednesday, Governor Tony Evers and the Wisconsin Economic Development Corporation (WEDC) announced $4 million in loans for small businesses in Kenosha.
These no-interest microloans will go to businesses that damaged or destroyed during the recent unrest in Kenosha.
“We know Kenoshans are working to reconstruct and repair in the wake of devastation, and we want to do everything we can to support the Kenosha Comeback,” said Gov. Evers. “I have seen firsthand the resilience of this community, and we are going to do everything we can to be there as they work to rebuild and move forward together."
Businesses that apply will be eligible to receive up to a $50K loan for cleanup, restoration, and repair costs.
Earlier this month, Evers announced businesses would be eligible for $1 million in Disaster Relief Microloan (DRM) program funds from WEDC. Now, that number has raised to $4 million and the maximum amount a business can receive has increased from $20K to $50K.
According to a press release from Evers, "businesses in the affected areas will be eligible for microloans of up to $50,000 at 0% interest, which will provide them with a short-term source of funds for repair work and operating expenses."
The WEDC has partnered with the Kenosha Area Business Alliance (KABA) to administer the loans. You can contact KABA to access the loans.
For more information on these loans and the DRM program, click here.
