Madison – State Senator Bob Wirch (D-Somers) issued the following statement today after the Wisconsin Economic Development Corporation (WEDC) Board of Directors approved $4 million in aid to Kenosha businesses impacted by recent unrest:
“This is great news. A thriving Kenosha is beneficial to the economy of the whole state, and this money will really help our businesses get back on their feet. I want to thank Governor Evers for making this money available. I also want to credit Rep. Ohnstad, who has been working tirelessly to bring home financial assistance for local businesses,” Wirch said.
The $4 million allocation means businesses will be eligible for up to $50,000 each in no-interest loans to be administered through the Kenosha Area Business Alliance (KABA); it’s possible that some of the funds will be converted into forgivable loans, as well.
Now that the WEDC board has approved the funds, KABA leaders will begin negotiations with WEDC on terms and details.