National ACE Provides Grants to help AAPI-Owned Businesses with support from Wells Fargo
FOR IMMEDIATE RELEASE
Monday June 12, 2023
Contact:
Emily Fuder, efuder@nationalace.org
National ACE Provides Grants to help AAPI-Owned Businesses with support from Wells Fargo
Independent Asian American and Pacific Islander businesses in Houston, San Francisco, New York City, Atlanta, and Minneapolis received $5,000 grants to help boost AAPI-owned small businesses.
[WASHINGTON, D.C; May 31, 2023] -- Wells Fargo and the National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (National ACE) supported Asian American and Pacific Islander (AAPI) small businesses with competitive grants worth $5,000 each. The 2023 AAPISTRONG Fund was designed to help small businesses respond to economic challenges and recover from the effects of the pandemic.
One of the grant winners was Eileen Lee, owner of the Lola. The Lola is a women’s club, coworking space and digital community helping professional women to connect, grow and thrive.
Eileen Lee, owner of the Lola in Atlanta, GA and AAPISTRONG Grant recipient
“It was incredibly tough to have a physical and event space during the pandemic - even 3+ years after the start of the pandemic, our space is not back to its original capacity - and I'm not sure it ever will. We were able to get several loans and grants and stay afloat,” said Eilieen Lee. “With the grant from National ACE and Wells Fargo, we were able to give a much needed raise to our part-time employee as well as direct funds to support more meaningful member engagement events within our community. The pandemic has hit women the hardest and we are seeing our members, all professional women, starting to come back out with a desire to connect and reconnect with like-minded women”
“Our AAPI-owned businesses are still experiencing severe losses as a result of the pandemic and even worse, are victims of increased hate, discrimination, and bias at their places of business,” said Chiling Tong, President and CEO of National ACE. “Wells Fargo’s ongoing commitment to AAPI-owned businesses is further demonstrated by the ongoing grant support they have provided the community. This contribution from Wells Fargo will provide hope for our AAPI small business owners to keep going.”
National ACE alongside its partner chambers Oakland Chinatown Chamber of Commerce (CA), Asian Chamber of Commerce Houston, Welcome to Chinatown (NY), Center for Asian Pacific American Women (Atlanta), and the Chinese American Chamber of Commerce - MN will distribute the grants to local AAPI businesses.
The 2023 AAPISTRONG Fund will be supported by a generous donation from Wells Fargo and will provide 15 grants to AAPI-owned businesses.
The full list of winners is available at AAPISTRONG.com.
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About National ACE
National ACE’s mission is to serve as a strong advocate of AAPI business interests and effect positive change on all issues that advance the goals of AAPI business owners, entrepreneurs, and corporate leaders. With 100 affiliate chambers of commerce and minority business organization partners throughout the country, National ACE strives to support and promote issues that impact the AAPI business community by improving economic development and impact, advancing coalitions and enhancing community building, and fostering the next generation of AAPI entrepreneurs and executives. National ACE provides a unified voice for the AAPI business community. Learn more at: www.nationalace.org
