The Sconi

Wisconsin's Gov. Tony Evers took to social media to share the state's decision to use $75 million in grants to support businesses in underserved communities. 

The $75 million will be split between two different grant funding programs; one working with multiple community chambers of commerce and the other focused on helping small businesses through development funding. 

"BREAKING: I’m proud to announce a $75 million investment to specifically address the needs of businesses in communities of color that have been disproportionately affected by the pandemic, in addition to the $50 million in Equitable Recovery Grants we already announced," Evers wrote in a tweet. 

As part of the new Diverse Business Assistance Grant program, which will be paid for with the American Rescue Plan Act given to the state, chambers of commerce in underserved communities will receive $37.5 million of said $75 million, WPR reported. 

"This includes $37.5 million for the Diverse Business Assistance Grant Program to support our diverse chambers of commerce serving high-need communities, allowing these and other nonprofits to help small businesses thrive, find new customers and improve their bottom line," Evers further explained in his four-part tweet. 

The other $37.5 million will go to grants as part of the Diverse Business Investment Grant program, which will aid small businesses through community development funding, according to WPR. 

"Right now, we have the opportunity to build the sort of future we want for our state—one that is equitable, just, and works for everyone. That's why this investment also provides another $37.5 million for the Diverse Business Investment Grant Program," Evers said in the tweet. 

The $75 million is aimed to help small businesses rebound from the negative impact and aftermath caused by the COVID-19 pandemic, especially for the black and Latino small business owners who struggled to receive help during the pandemic. According to a NPR report, many black and Latino business owners found themselves unable to participate in the Paycheck Protection Program loans.

"Small businesses make up the lifeblood of our state, but it’s no secret that the pandemic had disproportionate effects on many communities of color. With these investments, we are making sure all businesses in the state can continue to bounce back even better than ever," Evers said.

This newest round of grant funding available for small business will be in addition to the Equitable Recovery Program of $50 million in grants with the purpose "eliminating disparities in health, early childhood development, education, economic support, housing and environmental justice," according to a press release in April.