Four Milwaukee are chambers of commerce devoted to minority-owned business development have received grants totaling $1.475 million from the Wisconsin Economic Development Corp.
The awards were announced by Gov. Scott Walker Thursday at Marketplace 2017, a conference for minority-,woman- and veteran-owned Wisconsin businesses that was held at Potawatomi Hotel & Casino in Milwaukee. More than 600 people attended the two-day conference.
The awardees are: the Milwaukee-based African American Chamber of Commerce of Wisconsin; the Hales Corners-based American Indian Chamber of Commerce of Wisconsin; the Milwaukee-based Hispanic Chamber of Commerce of Wisconsin; and the Milwaukee-based Hmong Wisconsin Chamber of Commerce.
Part of the funding, $50,000 per organization, is to be used to create a microloan matching fund in partnership with microlending site Kiva. Another portion will go toward the chambers’ revolving loan funds, which are supported by WEDC. The remainder will be used for business training workshops, financial awareness programs, assistance in securing financing, networking events and mentoring.
“Wisconsin’s minority chambers of commerce play a vital role in ensuring that minority-owned businesses have the capital and resources they need to thrive,” Walker said. “As we continue to develop our workforce and grow the economy, the vital role minority-owned businesses play in the overall success of Wisconsin cannot be stressed enough.”
