Asian American and Pacific Islander-owned businesses were some of the hardest hit by the pandemic, but a new grant program is providing some hope for recovery.
Cash grants ranging from $10,000 to $25,000 are now available for AAPI business owners. Businesses that launched during the pandemic and ones that were already established are eligible.
“AAPI and other minority businesses face economic barriers that too often challenge their ability to thrive,” Chiling Tong, CEO of National Ace, said.
Tong said although loans were offered to small businesses through the Paycheck Protection Program, many Asian American owners didn't see that money.
“Because they did not think they qualified or they were unaware the opportunities existed,” Tong said.
Access to money isn't the only hurdle that these businesses are facing. Tong said the recent surge in anti-Asian hate and violence is also threatening their survival
She hopes the grants will help owners move past the pandemic and thrive.
Information on how to apply is available on the National Ace website.