Announcing Grand Prize Winners Of AAPISTRONG: Small Business Grant Program

FOR IMMEDIATE RELEASE

October 18, 2022

Contact: Emily Fuder - efuder@nationalace.org

Announcing Grand Prize Winners Of AAPISTRONG: Small Business Grant Program

Two grand prize winners awarded $50,000 cash grants to help recover from COVID-19 pandemic

In coming weeks, $2 million in grants to be awarded to 102 AAPI-owned small businesses across the country through AAPISTRONG: Small Business Grants, presented by National ACE and Reimagine Main Street 

WASHINGTON D.C., OCTOBER 18, 2022 – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) and Reimagine Main Street announced the two grand prize winners of the AAPISTRONG: Small Business Grants program.

The two grand prize winners will each receive a $50,000 cash grant to help their business recover from the COVID-19 pandemic.

In the coming weeks, National ACE and Reimagine Main Street and other AAPI-community organizations across the country, will announce an additional 100 winners of grants up to $25,000 winners, all part of the $2 million grant program designed to support independent AAPI-owned small businesses. 

The grand prize winners are:

• Jialin Pan, owner of Sweetheart Cafe & Tea in Oakland, California, and 

• Kyung Mun, owner of Mun’s Korean Martial Arts in Shorewood, Illinois

You can learn more about the grand prize winners here.

“We’re proud to announce the grand prize winners of the AAPISTRONG: Small Business Grant program. Both of the AAPI-owned businesses recognized today faced significant challenges in the pandemic, from decreased demand to global supply chain disruptions, inflation, high fees, and discrimination,” said Chiling Tong, President/CEO of National ACE. “Having both Jialin and Kyung join us was a highlight of the National ACE Conference, and we’re grateful to Reimagine Main Street and all of our partners for making today’s announcement possible. In the coming weeks, we look forward to announcing $2 million in cash grant support to an additional 100 AAPI-owned small businesses.”

“AAPI-owned small businesses have been hit particularly hard by the economic and social consequences of the pandemic and often have been slower to recover,” said Tammy Halevy, Executive Director of Reimagine Main Street. “Small businesses need support as they seek to recover and grow in a period of unique economic uncertainty. AAPI-small businesses faced unique challenges, and that’s why we’re thrilled to be able to offer this unique support, including (2) $50,000 cash grants. We are delighted to partner with National ACE to provide meaningful support to AAPI-owned small businesses that are the center of thriving communities across the country.”

AAPI small business owners in the United States were hit hard by the effects of the COVID-19 pandemic and continue to face challenges in its wake. A national survey released by National ACE and Reimagine Main Street in May 2022 found that 72 percent of AAPI respondents reported large or moderate negative effects of COVID-19. The survey also revealed that AAPI small business owners were among the least likely to report that ‘business is back’, and some of the slowest to recover from economic disruptions caused by the pandemic. Against this backdrop, access to capital is a persistent challenge. About 40 percent of AAPI respondents lacked confidence to fund an unplanned $5,000 business expense, and over half lacked confidence they could fund the initiatives that would propel their small business to the next level, such as a marketing campaign, increasing payroll, or purchasing property or equipment.

Reimagine Main Street, National ACE, and other AAPI business support organizations launched the AAPISTRONG: Small Business Grants program to assist AAPI-owned small businesses recover from the effects of the pandemic. The cash grants can help pay employees' wages, expand operations, renovate for new business needs, upgrade equipment, explore e-commerce offerings, and/or repair damage to the place of business. Meta provided the $2 million in grant funding through its Small Business Grants Program. The cash grants will be reinvested back into Main Streets across America and bear fruit for many years to come.

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