Dec 7, 2020
Governor Evers Announces New Round of Grants for Midsize Restaurants
Gov. Tony Evers announced on December 3rd with the Wisconsin Economic Development Corporation (WEDC) that restaurants and other targeted small businesses affected by the COVID-19 pandemic will receive $45 million in assistance. WRA has been advocating for restaurant specific financial relief throughout the pandemic and we are happy the Evers administration is able to target restaurants with relief.
The new program, called We’re All In For Restaurants, is aimed at restaurant businesses with annual revenues of more than $1 million and less than $7 million and is funded by the federal CARES Act.
Previous state grant programs have focused on very small businesses with annual revenues of less than $1 million. Over 3,300 small businesses (most of them restaurants) who qualified for the We’re All In Phase 2 grant programs will receive their funds this week.
The program announced today will be administered by the Department of Revenue (DOR) in collaboration with WEDC. Unlike previous We’re All In grants, businesses will not have to apply for the grants, but will be identified and contacted directly by the DOR based on the businesses’ state tax records.
According to preliminary DOR estimates, restaurants will account for roughly 95 percent of the approximately 2,000 businesses to receive the funds. Each qualifying restaurant will receive $20,000.
FAQ’s for the We’re All In For Restaurants
How and when will restaurants get contacted?
Restaurants will be notified of program qualification via the DOR’s My Tax Account secure email system.
Can restaurants be proactive and reach out?
Please wait until next week and monitor your My Tax Account messages.
How are restaurants identified as qualifying?
The DOR used 2019 tax data to identify restaurants with a 722 NAICs code, with gross revenues above $1 million and below $7 million.
What do I need to do to get the money?
Via your My Tax Account, you will be asked a series of questions to confirm your participation and to attest that you have been negatively impacted financially by the COVID-19 pandemic. You will also be asked to confirm or update the bank account information DOR has on file for electronic deposits. Again, all of this will be processed through the secure My Tax Account portal.
When will the money be distributed?
The DOR expects to distribute the money the week of December 21, 2020.
What can the grant dollars be used for?
These dollars can be used for normal business expenses.
What if I do not get a message?
Review your information via My Tax Account and make sure you qualify. Your gross revenue must be above $1 Million and below $7 Million. You may contact DOR via your My Tax Account portal to ask further questions.