Gov. Walker announces more than $500K in grants for assistance to minority-owned businesses

MILWAUKEE -- The Wisconsin Economic Development Corporation awarded more than $500,000 in grants on Wednesday, December 14th. The grants will help provide assistance to minority-owned businesses throughout the state.

Governor Scott Walker announced the five organizations that will be receiving them:

According to the governor's office, other organizations that will benefit from the funding to those organizations include the Wisconsin Indian Business Alliance, the Hmong-Wisconsin United Coalition of Mutual Assistance Associations, the Latino Entrepreneurial Network, the Wisconsin Black Chamber of Commerce, the Madison Black Chamber of Commerce, the Latino Chamber of Commerce of Dane County, and the Ethically Diverse Business Coalition.

“These grants to the minority chambers of commerce across Wisconsin will enable them to provide a wide variety of much-needed services to businesses in the communities they serve. Whether it’s helping secure funding or providing mentorship or training, these efforts will lead to more successful companies and more jobs at a local level," Governor Walker said in a statement.

The grants will support initiatives such as business training workshops, financial awareness programs, assistance with securing financing, networking opportunities, and one-on-one mentoring. Each of the minority chambers also administers a revolving loan fund supported by WEDC, and a portion of the grant funding will be used to administer that program and assist businesses in applying for loans.

The announcement came during MARKEPTLACE 2016, the 35th annual statewide conference for minority, woman, and veteran-owned businesses at Potawatomi Hotel & Casino.

The grant money will go towards helping minority-owned businesses throughout the state.

More than 600 people attended the two-day conference which provided professional networking opportunities.