560.82(2)
(2) The department may not award a grant under
sub. (1) or
s. 560.835 (6) unless the eligible recipient submits an application, in a form required by the department, that contains or describes all of the following:
560.82(2)(a)
(a) Potential locations of the new minority business.
560.82(2)(b)
(b) The ownership structure of the new minority business.
560.82(2)(c)
(c) The product or service provided by the new minority business.
560.82(2)(d)
(d) The market for the product or service described in
par. (c).
560.82(2)(f)
(f) Any competitive advantages of the new minority business.
560.82(2)(g)
(g) The eligible recipient's estimate of the gross revenue of the new minority business over a period specified by the department.
560.82(2)(h)
(h) The process for manufacturing the product, or providing the services, of the new minority business.
560.82(2)(i)
(i) An estimate of the number of jobs that will be created by the new minority business.
560.82(2)(j)
(j) The eligible recipient's experience and training.
560.82(2)(k)
(k) The eligible recipient's estimate of the profit that will be generated by the new minority business over a period specified by the department.
560.82(2)(L)
(L) The eligible recipient's estimate of the capital required to complete the early planning project.
560.82(2)(m)
(m) Potential sources of financing for the early planning project.
560.82(2)(n)
(n) Any other information that the department requests.
560.82(3)
(3) An eligible recipient who receives a grant under
sub. (1) or
s. 560.835 (6) may only use the proceeds of the grant for the following purposes:
560.82(4)
(4) In any fiscal biennium, the department may not do any of the following:
560.82(4)(a)
(a) Award in a fiscal biennium, for grants under
sub. (1), more than 25% of the total of all of the following:
560.82(4)(a)2.
2. The lesser of the funds received in a fiscal biennium in repayment of grants or loans under
s. 560.83 or the funds appropriated for the fiscal biennium under
s. 20.143 (1) (im).
560.82(4)(b)
(b) Award, to any one eligible recipient or for any one early planning project, grants under
sub. (1) or
s. 560.835 (6) that total more than $15,000.
560.82(5)(a)(a) The department may only award grants under
sub. (1) or
s. 560.835 (6) to individuals who are minority group members and residents of this state.
560.82(5)(b)
(b) If the department awards a grant under
sub. (1), the department may contract directly with and pay grant proceeds directly to any person providing technical or management assistance to the grant recipient.
560.83
560.83
Minority business development and revolving fund grants and loans. 560.83(1)
(1) Subject to
s. 560.84, the board may award a grant or loan under this subsection to an eligible recipient or a local development corporation to fund eligible development project costs.
560.83(2)
(2) The board may award a grant or loan under this subsection to a local development corporation if all of the following apply:
560.83(2)(a)
(a) The local development corporation agrees to use the proceeds of grants or loans under this section for any of the following:
560.83(2)(a)1.
1. To make grants or loans not exceeding $50,000 each to eligible recipients to fund eligible development project costs.
560.83(2)(a)2.
2. To create, expand or continue a revolving fund program that is operated by the local development corporation and that benefits or will benefit minority businesses or minority group members who are residents of this state.
560.83(3)
(3) The board may not award a grant or loan under
sub. (1) or
(2) unless the eligible recipient or the local development corporation submits an application, or other materials, in a form specified by the department by rule.
560.83(4)(a)(a) In any fiscal biennium, the board may not award, to any one eligible recipient or local development corporation or for any one development project, grants or loans under
sub. (1) that total more than $100,000 in a fiscal biennium.
560.83(4)(b)
(b) In any fiscal year, the board may not award to any one local development corporation grants or loans under
sub. (2) that total more than $200,000.
560.83(5)
(5) In addition to local development corporations, the board may award grants or loans under
sub. (1) only to persons who are any of the following:
560.83(5)(a)
(a) Minority group members who are residents of this state.
560.83 History
History: 1989 a. 31;
1997 a. 27;
1999 a. 9.
560.835
560.835
Minority business recycling development grants and loans. 560.835(1)(1) Subject to
s. 560.84 and except as provided in
sub. (6), the board may award a grant or loan under this section to an eligible recipient to fund any of the following recycling development projects:
560.835(1)(a)
(a) The production of a product made from one or more materials recovered from postconsumer waste, as defined in
s. 287.01 (7).
560.835(1)(b)
(b) The acquisition of equipment necessary to make a product under
par. (a).
560.835(1)(c)
(c) The development and operation of a facility to process materials recovered from a solid waste management program that complies with
s. 287.07 (1m),
(3) or
(4) or the development and operation of a solid waste collection business if the solid waste collected is used in the production of a product.
560.835(1m)
(1m) The board may request proposals for projects that do one or more of the activities specified in
sub. (1) (a) to
(d) if the board determines that such projects are needed to develop or expand the market for one or more materials recovered from postconsumer waste.
560.835(2)
(2) Section 560.83 (2),
(3) and
(5), as it applies to a development project under that section applies to a recycling development project under
sub. (1).
560.835(3)
(3) The board or a local development corporation may not award grants or loans under
sub. (1) that total more than $250,000 in a fiscal biennium to any one eligible recipient or for any one recycling development project.
560.835(4)
(4) Before making a grant or loan under
sub. (1), the board shall consider whether the recycling development project is consistent with the priorities established under s.
159.03 (1) (b), 1991 stats., that are in effect on January 1 of the year in which the eligible recipient submits a complete application for a grant or loan under
sub. (1).
560.835(5)
(5) An eligible recipient may use the proceeds of a loan under
sub. (1) for capital expenses or working capital expenses.
560.835(6)
(6) Subject to
ss. 560.82 (2),
(3),
(4) (b) and
(5) and
560.84, the department may award a grant to an eligible recipient for an early planning project for an activity described in
sub. (1) (a) to
(d). The total amount of grants for early planning projects awarded under this subsection may not exceed $50,000 during a fiscal biennium.
560.835(7)(a)(a) The board may not award a grant or loan under
sub. (1) and the department may not award a grant under
sub. (6) after July 1, 1995.
560.835(7)(b)
(b) The department shall deposit in the appropriation account under
s. 20.143 (1) (L) all moneys received after October 29, 1999, in repayment of loans made under this section.
560.837
560.837
Minority business development finance and education and training grants. 560.837(1)
(1) Subject to
s. 560.84, the board may award a grant under this subsection to a nonprofit organization or private financial institution, as defined in
s. 234.01 (5k), whether or not for profit, to fund a finance project if all of the following apply:
560.837(1)(a)
(a) The financial institution or nonprofit organization uses the grant proceeds for any of the following purposes:
560.837(1)(a)1.
1. To make loans for working capital to minority group members and minority businesses.
560.837(1)(a)2.
2. To pay origination fees or other administrative costs associated with making loans for working capital to minority group members and minority businesses.
560.837(2)
(2) Subject to
s. 560.84, the board may award a grant under this subsection to a nonprofit organization that is a minority business to fund an education and training project.
560.837 History
History: 1997 a. 27.
560.84
560.84
General criteria. 560.84(1)(1) The department or board may not award a grant or loan for a project under this subchapter unless, after considering the application or other material submitted by the eligible recipient or local development corporation, the department or board determines all of the following:
560.84(1)(b)2.
2. If a development project or recycling development project, that the project will retain or increase employment in this state.
560.84(1)(c)
(c) That the project is not likely to occur without the grant or loan.
560.84(1)(d)
(d) That financing is unavailable from any other source on reasonably equivalent terms.
560.84(1)(e)
(e) That the eligible recipient or local development corporation receiving the grant or loan will contribute, from a source or sources other than the state, whichever of the following applies:
560.84(1)(e)1.
1. For grants funding early planning projects under
s. 560.82 or
560.835 (6), not less than 25% of the cost of the project. Up to 50% of the contribution under this subdivision may be in the form of the in-kind services of a qualified 3rd party or qualified 3rd parties. The department shall determine what services may be used as in-kind contributions and whether a 3rd party is qualified, for purposes of this subdivision.
560.84(1)(e)2.
2. For grants and loans funding development projects or recycling development projects, a cash contribution of not less than 25% of the cost of the project.
560.84(1)(e)3.
3. For a grant or loan funding a revolving fund project, a cash contribution of not less than 50% of the cost of the project.
560.84(1)(g)
(g) That funds from the grant or loan will not be used to replace funds from any other source.
560.84(1)(h)
(h) That the project will not displace workers in this state.
560.84(1)(i)
(i) That the project has sufficient potential to be profitable.
560.84(1)(im)
(im) If a development project, that the project has the potential to promote economic development and employment opportunities for minority group members or minority businesses.
560.84(1)(j)
(j) If a development project, recycling development project, finance project or education and training project, that funds from the grant or loan will not be used to refinance existing debt.
560.84(1)(k)
(k) That the project meets any other criteria established by the department by rule.
560.84(2)
(2) The board or department shall consider all of the following before awarding a grant or loan to an eligible recipient or local development corporation for a project:
