For more information, contact:

Christina Knudsen

WWBIC Vice President of Development and Communications

414-263-5450

cknudsen@wwbic.com

MILWAUKEE, WIS. – The U.S. Small Business Administration (SBA) announced a multi-year $26 million grant to add new Women's Business Centers (WBCs) and increase support of existing WBCs across the country on Thursday. The Wisconsin Women's Business Initiative Corporation (WWBIC) has been named as one of the grant recipients, and will receive funding to support childcare enterprises across the state of Wisconsin.

“WWBIC has provided industry-specific training for childcare businesses throughout our 38-year history," says Wendy K. Baumann, WWBIC President and Chief Visionary Officer. "We're honored to have the SBA trust us to be part of the solution for affordable, accessible and quality childcare businesses in urban and rural communities throughout Wisconsin. We're looking forward to partnering with other organizations to tackle this important issue."

The lack of access to affordable and high quality child care led to $122 billion in lost earnings between 2017 and 2022, according to U.S. News & World Report. The Wisconsin Department of Children and Families reports that $1.1 billion is lost every year in Wisconsin due to lost productivity, earnings and revenue because one or more parents are leaving or not entering the workforce due to childcare access.

WWBIC will be collaborating with the State of Wisconsin, childcare collaboratives, childcare advocacy groups, as well as childcare licensing and permitting agencies across the state to address the quality childcare access problem. Any organizations looking to partner with WWBIC are encouraged to contact Kathryn Dunn, WWBIC Vice President of Programs and Operations. WWBIC looks forward to working in tandem with these organizations to advance all products and services available to childcare entrepreneurs.

WWBIC provides quality business training and access to fair and responsible capital for small business owners with a focus on women, people of color and low to moderate income individuals. Funds from this grant provided through the SBA's Office of Women's Business Ownership (OWBO) will allow WWBIC to expand and provide further specialization of its services to assist those interested in starting or expanding certified family and licensed childcare businesses to develop a business model of breakeven and profitability for their business, while still providing affordable childcare to parents. This round of grants marks the first time the SBA issued WBCs multiple awards for distinct services and represents an investment in high-performing WBCs to expand their capacity.

“Having additional support to further provide training targeted to the needs of startup and growing childcare industry businesses will be impactful," says Heather Lux, WWBIC Statewide Director of Training. "WWBIC will be sharing childcare training and related support in all of our six regional offices in 2025."

WWBIC's six regional offices are all SBA-sponsored Women's Business Centers, located in Appleton, Hayward, La Crosse, Madison, Racine/Kenosha, and headquarters in Milwaukee. Childcare entrepreneurs interested in WWBIC's services are always invited to contact the office in their area. Addresses, contact information and more details are available at wwbic.com.

About WWBIC

The Wisconsin Women’s Business Initiative Corporation (WWBIC) is a leading statewide innovative economic development corporation that is “Putting Dreams to Work” by assisting micro enterprise & small businesses. They are AERIS rated and are one of Wisconsin’s first Community Development Financial Institutions (CDFI). WWBIC’s primary focus is on women, people of color, lower-wealth individuals, and veterans and military connected families. They open doors of opportunity by providing direct lending and access to fair and responsible capital, quality business training, one-on-one technical business assistance and coaching to increase financial wellness.

WWBIC has fiercely championed their mission by operating in five Wisconsin regions to offer services statewide, channeling its activities through three primary lines of business: small business lending (ranging from $1,000 to $350,000); technical assistance/coaching; and entrepreneurship and financial wellness training. Since 1987, WWBIC has served over 77,000 individuals and loaned $135 million to small business owners. Their technical and capital support has created or retained over 18,000 jobs with over 9,000 businesses started, strengthened, or expanded. To learn more about WWBIC visit: www.wwbic.com.

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