HWCC Grants - Business Investment Grant

HWCC Business Investment Grant

The Hmong Wisconsin Chamber of Commerce (HWCC) offers a Business Investment Grant Program that is available to Wisconsin businesses, targeting those in qualified census tracts, underserved populations, or areas disproportionately impacted by the COVID-19 pandemic. These funds were made available through the American Rescue Plan Act (ARPA) administered by the Wisconsin Department of Administration.

Grant Amount

Up to $10,000 per applicant
Any amount awarded is at the discretion of the HWCC Grant Selection Committee.
The availability of the grant is subject to the availability of funds, and once the funds are exhausted, the grant will no longer be available.

Eligible Use of Funds

Technology upgrade (ex: POS system, laptop, printer, software upgrade)
Business consultation (ex: business financial planning, expansion, accounting)
Equipment directly related to the nature of the applicant’s business
Renovations such as improvement to store front, signage, landscaping, etc.
Professional Services (ex: Quickbooks, ADP, tax accountant)
Current payroll, commercial space rent, commercial space utilities (limited to three months)
Subscriptions, memberships, and development opportunities that will contribute to the growth of the business

Eligibility

Business entity must be formalized and have an EIN assigned to the business.
Business must have been organized at least six (6) months from the date of grant application submission.
Business must have generated, on average, $500 in monthly revenue for the past 3 months from the date of grant application submission.
Only one grant application per owner is permitted, regardless of the number of businesses owned. For instance, if an individual like Tou Lee owns five distinct businesses, they are only allowed to apply for a single grant. If a business has multiple owners, the entire entity is permitted only one grant application. If the grant is approved, the business will not be eligible for additional grant applications. Co-owner(s) with 20% or more ownership must be included in the application
Business must have a business banking checking account associated with their business entity.
Business must be in good standing with the Wisconsin Department of Financial Institution (WDFI) (Visit https://bit.ly/wdfi-search) and HWCC as a loan client, if applicable.
Ineligible business – See SBA Guidelines. HWCC uses eligibility criteria based on SBA guidelines and HWCC Revolving Loan Fund procedures. https://bit.ly/sba-ineligible
These funds cannot be used for debt consolidation or other forms of debt service.
A business owner cannot apply for funding from multiple organizations to cover the same business expense. More specifically, if a business owner has already requested funding from one organization to cover a particular business expense, the business owner cannot submit another funding request to cover the same expense from a different organization such as other CDFI’s, chamber of commerce, or organizations that provide similar grants.
Only for-profit businesses are eligible to apply for these grant funds
Must currently be an HWCC PAID member or client. Contact Nou Lee, HWCC’s Community Engagement & Events Coordinator at nou@hmongchamber.org to confirm membership status and/or how to obtain membership. If you are not a member, you can still apply and if awarded, your membership fee of $250 will be due before funds are disbursed. Being a member does NOT guarantee grant award. Learn more at www.hmongchamber.org/membership

Application Process

All information requested on the application must be filled out and delivered in-person or electronically to HWCC.
Applications will be reviewed no later than 72 business hours once received.
Applicants will be notified either through email or phone once the application has been reviewed.
In most cases, a decision will be made no later than five (5) business days from the date of review.
A denial letter or approval letter will be delivered to the applicant via preferred method of contact as listed on application.

Approval/Denial Process

Every effort will be made to communicate an approval or denial of the funding request within five (5) business days. In cases where there are additional questions by the HWCC Grant Selection Committee for the applicant, it may take more time for a decision to be made.
Grant awardees funds will be disbursed once it has been determined by the HWCC Grant Selection Committee that all required documents have been received.
Businesses approved for a grant are required to complete and submit a W-9 form as well as ACH Business Banking information to HWCC before the grant funds are disbursed. Any business that does not provide this information will have to forfeit their grant award.
Decisions about this funding to an applicant may be impacted if it is determined that the applicant has been approved for the same source of funding from another organization.
All businesses approved for a grant will be required to sign a contract stating their understanding and agreement of the terms of the funds before the funds are disbursed.
All businesses requesting funds are required to provide documentation of the use of funds, including cost breakdowns from the product/service provider. This information must be included with the application and is required in order for a decision to be made by the HWCC Grant Selection Committee.
Any funding request of under $5,000 will be required to submit documents proving the usage of funds such as receipts, invoices, quotes for goods and services from providers addressed to the business.
Any funding request of $5,001 or more will require the grant applicant to provide a supplementary proposal outlining how the funds will be used, including cost breakdowns from product/service providers, as well as information on the intended benefits and utilization of the product/service for the business, such as contractor estimates for renovations and how these improvements will benefit the business. This proposal would need to be submitted along with the grant application BEFORE a decision could be made by the HWCC Grant Selection Committee. Please note that for funding requests of $0-4,999, only a portion of the information mentioned in the supplementary proposal is required.

Applying

The application is NOW CLOSED! We want to extend our deepest gratitude to everyone who submitted an application for our business investment grant program. The response has been overwhelming and we are thrilled to see so many people eager to make a difference in their communities. Unfortunately, due to the enormous amount of applications we have received, we have reached our capacity and will no longer be able to accept any further applications. We apologize for any inconvenience this may cause and encourage those who were unable to submit an application to keep an eye out for future opportunities. Thank you again for your interest in our grant program!

Documents required in the application include:

Proof of business: Articles of Incorporation, EIN Certification Letter, and Operating Agreement (if applicable)
Last 6 Months of Bank Statements or Profit & Loss and Balance Sheet
Any funding request of under $5,000 will be required to submit
documents proving the usage of funds such as receipts, invoices, quotes
for goods and services from providers addressed to the business.
Any funding request of $5,001 or more will require the grant
applicant to provide a supplementary proposal outlining how the funds
will be used, including cost breakdowns from product/service providers,
as well as information on the intended benefits and utilization of the
product/service for the business, such as contractor estimates for
renovations and how these improvements will benefit the business. This
proposal would need to be submitted along with the grant application
BEFORE a decision could be made by the HWCC Grant Selection Committee.
Please note that for funding requests of $0-4,999, only a portion of
the information mentioned in the supplementary proposal is required.
Year to Date Sales or Year End 2022 Sales

This is a reminder that the availability of the grant is subject to the availability of funds, and once the funds are exhausted, the grant will no longer be available.

Questions

If you have questions or concerns regarding this grant, please reach out to our business development team below:

Email: business@hmongchamber.org

Milwaukee Office: (414) 645-8828
Wausau Office: (715) 298-6071
Eau Claire Office: (715) 318-8806
Green Bay & Fox Valley Office: (920) 931-2515

If you have questions about membership, please reach out to Nou Lee, HWCC’s Community Engagement & Events Coordinator at nou@hmongchamber.org.