While we remain focused on COVID and elections, we continue to try to rebuild the economic health of our city. I want to highlight some of the programs that help address the challenges we are facing in
our community.

My budget proposed to invest $4.5 million over the next three years in the Small Business Equity & Recovery (SBER) program. This program being launched includes a suite of programs that help to start, grow or sustain small businesses owned by underrepresented groups. It can help these entrepreneurs to improve their facades, buy personal protective equipment to stay operational during COVID, and more. Other opportunities within the program include the BusinessReady program to help people of color develop the skills they need to turn their great ideas into a successful business; and the Commercial Ownership Assistance program, which offers forgivable loans to underrepresented small-business owners move from renting space to owning property.

The SBER program is an addition to other ways the city supports entrepreneurs of color. My budget also continues to support the Black and Latino Chambers of Commerce to support their member businesses. The city also continues to support the KIVA loan program to help people step into small business ownership.

In addition, my proposed budget includes funding for workforce training and skill development, a $100,000 expansion in funding for youth employment, job coaching and mentoring, and more.

These are a few ways we are trying to build a Madison that works for everybody. To learn more about these efforts, visit the city’s Business Financial Assistance website (cityofmadison.com/dpced/economicdevelopment/business-financial-assistance/188). To learn more about the budget and the dates for public hearings, visit the city’s Budget website (cityofmadison.com/finance/budget).

As always, mask up, wash your hands, maintain physical distancing and stay well.