MADISON, Wis. — A grant from the City of Madison is helping five minority businesses to purchase properties.

What You Need To Know

  • City of Madison's pilot program helping five minority businesses pay their down payments
  • $500,000 is set aside for the unique project
  • Aenesis Therapy awarded one of the grants to expand and serve more individuals

Aenesis Therapy Owner Myra McNair said she was thrilled to be chosen to receive the funding that helped her pay for a down payment on space she needed to expand her counseling services.  

She said with COVID-19, her Black-owned business has received double the call volume. She said the waitlist is between two and three months out and they need a new facility to accommodate their growth, given the community need.

"And if you look at a lot of the business owners that are people of color, we don't have our own real estate or buildings to really help with that growth and that sustainability," McNair said. "And so, the grant that the city offered, it really helped us get this."

City of Madison Business Development Specialist Mike Miller spearheaded the $500,000 project. It gives five minority businesses a chance to unlock business ownership, with down payment sized grants.

"You know, even though they're successful businesses are doing great work, they don't have that amount of, of capital put away to, you know, to kind of really make something like what my was doing, you know, which is owning our property really to make it happen," Miller said.

McNair said she plans to open her dream space located on the west side near Exact Sciences main campus at the start of the new year.  

You can learn more about the grant program at https://cityofmadison.com/news/city-leaders-advance-a-proposal-to-support-wealth-creation-in-communities-of-color.

For Aenesis' services, click here.