Background
The Diverse Business Assistance Grant Program is administered by the Wisconsin Department of Administration (DOA). The purpose of the program is to provide funding to assist chambers and non-profit organizations providing assistance to businesses owned by individuals from diverse communities. These communities have been denied access to capital in the past or are underbanked, and have been disproportionately impacted by the Covid-19 pandemic. The program is supported by American Rescue Plan Act of 2021 (ARPA) Federal funding.
Ashland Area Development Corporation (AADC) submitted a grant application to the DOA, and was selected to receive a Diverse Business Assistance grant award. AADC’s application proposed to deliver entrepreneurial instruction, individualized consulting, a mentoring network, access to capital (grants), and guidance in forming professional networks. The intended diverse businesses to be assisted by AADC’s entrepreneur program include those owned by Ashland County entrepreneurs who are Native American, people of color, women, and/or LGBTQ+.
AADC has named this program “FUNDiversity”.

Timeline
This grant will end on December 31, 2024. All expenses must be incurred prior to that date.

Eligibility Requirements
1. Program participants may be a current business owner or aspire to be a future business owner. Entrepreneurial experience is not required to participate.
2. The diverse community businesses to be served are those which are 51% owned, controlled, and actively managed by a woman, a member of a qualifying minority, or a person who identifies as a member of the LGBTQ+ community. Program participants will be required to sign an affidavit and provide articles of incorporation or other documentation proving ownership of business.
3. At least one of the business owner(s) who meet the 51% threshold must also have resided in Ashland County for at least 90 days prior to the disbursement of the down payment grant award.
4. Businesses must currently be located, or will be located, in Ashland County.
5. Individuals applying for capital must be at least 18 years old.
6. Nonprofit organizations and government entities are not eligible to participate in this program.

Program Components
Interested residents of Ashland County may register for the grant program by calling Ashland Area Development Corporation at 715-682-8344 to schedule an appointment for a simple interview with a staff member. Eligible program participants will then meet with a staff member to determine the entrepreneur’s business goals and what types of support services are needed. Together, the staff member and the program participant will develop an action plan which will be supported by one or more of the following three primary service components:
1. Entrepreneur training classes and/or one-on-one coaching
2. Mentorship from local, experienced, business owners
3. Capital to be used as a down payment to improve eligibility for a business loan from a commercial lender (such as a bank or credit union), or business loans from regional economic development agencies (such as Ashland Area Development Corporation and Northwest Regional Planning Commission)

Entrepreneur Training Classes and One-on-One Coaching
The goal of the classes is to teach entrepreneurs how to develop a strong, effective business plan. Classes will be held at the Ashland Area Enterprise Center located at 422 3rd St. West in Ashland. Instruction will be available to entrepreneurs regardless of their level of business experience. Topics will include business legal structure, small business bookkeeping, budgeting, pricing, marketing, and planning for retirement.
Program participants will be encouraged to participate in one-on-one coaching sessions with trained staff and other qualified, approved professionals. This will provide opportunity for program participants to receive feedback on their business plan drafts throughout the process of developing the plans.
Additionally, program participants who need to confer with a professional for legal or accounting advice will receive services paid for by the program.
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Mentorship
Mentorship from successful business owners, especially those familiar with local diverse communities, will help support the development of new entrepreneurs. Mentors will share their skills, knowledge, and enthusiasm with program participants. AADC has developed a list of local business owners who have agreed to participate as mentors.

Funding for Program Participants
Program participants may apply for grant funds to use as down payments for loans when purchasing property or equipment needed for their business. The down payment will be in the form of a grant and will not need to be repaid. A program participant who wishes to apply for a down payment grant will submit application materials to AADC staff. AADC staff will present applications to AADC’s Review Committee, which will be responsible for reviewing the application and recommending approval to AADC’s Board of Directors. AADC’s Board of Directors will be responsible for the final approval of applications.
To be considered for a down payment grant, applicants must submit the following materials to AADC staff:
 An application form
 A complete and fully-developed business plan
 Articles of incorporation or other proof of existence
 Evidence that a business loan application has been submitted to a qualified lender
 Other materials as requested to support the applicant’s funding request
Questions?
Please refer to the Frequently Asked Questions (FAQs) or contact AADC at 715-682-8344.