Grant aims to support entrepreneurs in underserved areas
MADISON, WI. JULY 26, 2025 – Entrepreneurs and startups throughout Dane County will gain access to much-needed capital to grow their businesses thanks to a partnership between the Wisconsin Economic Development Corporation (WEDC) and the Urban League of Greater Madison (ULGM).
At the Urban League’s 11th Annual Unity Picnic today, WEDC Secretary and CEO Missy Hughes and ULGM President and CEO Dr. Ruben L. Anthony, Jr. announced that WEDC is providing the Urban League with a $250,000 Small Business Development Grant to support three initiatives to assist innovative new businesses in traditionally underserved communities.
“Entrepreneurs and startups help drive our state’s economy forward, keep our communities thriving, and create jobs and opportunities,” Secretary Hughes said. “Access to capital is what fuels their growth and enables them to scale up and build momentum.”
“The Urban League is excited that WEDC is making this investment in our community,” said Ruben L. Anthony, Jr., President & CEO of the Urban League of Greater Madison. “This builds on prior investments including a $400,000 WEDC grant that helped us leverage over $700,000 in additional private funding and provide over $1.1 million in loans and grants to 29 small businesses and more recently a $100,000 technical assistance grant last fall that has already allowed us to provide training more than 30 small businesses. This new grant will help us support businesses in a wide variety of ways ranging from $1,000 mini-grants that might help a business obtain a vending license or buy some cooking supplies to larger loan guarantees that can help a business leverage private funding while also building new banking relationships and credit.”
The ULGM will use three strategies to help small businesses throughout Dane County that may face barriers to accessing traditional sources of capital:
- Microgrants of $1,500 to $2,500 for startup costs such as filing or legal fees, business classes, supplies, marketing materials, totaling $75,000, with half coming from the SBDG and half from ULGM.
- Kiva Loan Matching Funds totaling $75,000, with half coming from the SBDG and half from ULGM, for small businesses that have successfully launched a Kiva crowdfunding campaign.
- Loan Guarantees that are jointly underwritten through a list of strategic lending partners, including Summit Credit Union, Park Bank, Associated Bank, and WWBIC.
Participating businesses must first complete an Urban League technical assistance program or a technical assistance program conducted by one of ULGM’s approved strategic partners.
Last fall, WEDC provided a $100,000 grant which the Urban League matched with another $100,000 to support the Urban League’s programming partnership with gener8tor, an award-winning national accelerator program. The program has already run two successful cohorts, and several of the participating businesses have subsequently opened businesses in The Hub.
The Urban League is presently recruiting for its final cohort of the year. Thanks to WEDC’s funding, gBETA Urban League will be a free, seven-week accelerator that will help small businesses grow, connect, and raise capital. The application deadline is September 7 and the program will run from September 25 to November 14. Selection is competitive, and applicants are encouraged to apply early at www.gener8tor.com/gbeta/urban-league. For more information or to schedule a meeting to help strengthen their application, interested businesses should contact Jalen Greenlee, Program Director at jalen.greenlee@gener8tor.com.
