(3)???560.65(3)(a)(a) Subject to sub. (4), the board may award a grant or loan not exceeding $25,000 under s. 560.61 to a new or expanding business, a municipality or other public entity, a nonprofit organization or an entity organized by a group of any of those entities for investigating the feasibility of any of the activities under sub. (1m) (a) 1. to 3.