Subject: 06.15.2020 New North Newsletter

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New North Inc. would like to thank Creative Business Services for their support as a Contributing level investor in 2020.

To learn more about Creative Business Services, click HERE.
We’re All In Small Business Grant Now Accepting Applications

We’re All In Small Business Grant (WSBG) program of the Wisconsin Economic Development Corporation (WEDC), is now accepting applications online for
the $75 million WSBG program. Applications will be accepted starting today, June 15th at 8:00 AM through Tuesday, June 23rd at 11:59 PM.

The program, will provide $2,500 grants to 30,000 small businesses, is designed to help small businesses get back on their feet amid the COVID-19 pandemic while also encouraging them to adopt best practices to keep employees, customers and communities safe.

One element of the online application process for small businesses is an email or letter of acknowledgement from a community organization confirming that the business was in operation in February 2020. As a regional economic development organization, New North Inc. is able to provide this documentation for eligible businesses. 

Small businesses seeking an email or letter confirming February 2020 operations, as part of the application process, should email newnorth@thenewnorth.com.

Please contact Barb LaMue, barb.lamue@thenewnorth.com, for further questions.

ELIGIBILITY REQUIREMENTS
To be eligible, businesses must:
  • Be a Wisconsin-based, for-profit business
  • Employ 20 or fewer full-time equivalent (FTE) employees, including the owner; (Seasonal businesses should use the highest total FTEs employed during the season.)
  • Earn greater than $0 but less than $1 million in annual revenues (gross sales and receipts); 
  • and have started operating prior to Jan. 1, 2020, 
  • and have been in business as of Feb. 2020. (Seasonal businesses should use the highest total FTEs employed during the season.)
BE PREPARED
Applicants are encouraged to prepare for the one-week application period by gathering the following required documents:

  • 2018 or 2019 federal tax return for business (If you started your business in 2020, you are not eligible for this grant). Applicable tax returns are:
               - IRS form 1065 Partnership Return (no K-1s required)
               - IRS form 1120 Corporation Return (no schedules required)
               - IRS form 1120S S Corporation Return (no K-1s required)
               - IRS form 1040 (sole proprietors), first two pages, and the following:
                    -Schedule C, Profit and Loss from Business
  • Signed W-9 and dated form available at www.irs.gov/pub/irs-pdf/fw9.pdf
  • A letter or email of acknowledgement from a community organization indicating your business was in operation in February 2020.
  • Small businesses seeking an email or letter confirming February 2020 operations, as part of the application process, should email newnorth@thenewnorth.com or one of its local partners identified by WEDC for this confirmation.

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COVID-19 Updates & Resources
As the COVID-19 begins to have an increased impact on our businesses and communities, we thank our local media for keeping us informed. Additional resources can be found on the COVID-19 Updates page on the New North website.
CLICK HERE FOR COVID-19 UPDATES & RESOURCES

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