New National ACE 2023 AAPISTRONG Fund to help AAPI-Owned Businesses with support from Wells Fargo
FOR IMMEDIATE RELEASE
February 14, 2023
Contact:
Emily Fuder, efuder@nationalace.org
New National ACE 2023 AAPISTRONG Fund 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 were awarded $5,000 grants to help boost AAPI-owned small businesses.
[WASHINGTON, D.C; February 14, 2023] -- National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (National ACE) has announced the 2023 AAPISTRONG Fund to support 15 Asian American and Pacific Islander (AAPI) small businesses with competitive grants from Wells Fargo worth $5,000 each. The 2023 AAPISTRONG Fund, made possible by a generous donation from Wells Fargo, is designed to help small businesses respond to economic challenges and recover from the effects of the pandemic.
“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 additional AAPI small business owners to keep going.”
“Wells Fargo is proud to support National ACE and join their mission to amplify the voices of AAPI small businesses across the country,” said Chris Galang, Senior Vice President of Small Business Diverse Customer Segments at Wells Fargo. “When small businesses succeed, entire communities thrive and we are committed to helping entrepreneurs start, run and grow their businesses.”
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. Some of the 2023 grants have been awarded.
Above: The grantees in Oakland, California on January 22, 2023
“Thank you, National ACE and Wells Fargo for providing these grant opportunities to the three businesses in Oakland Chinatown- Ruby King Bakery, Lounge Chinatown, and Ming's Tasty. Most of Oakland Chinatown business owners are minority, English as second language residents, and family-owned businesses. This grant is an immediate relief of the dilemma between COVID, hate crimes, and inflation,” said Jessica Chen, Executive Director of the Oakland Chinatown Chamber of Commerce.
Above: the grantees in Minnesota on January 18, 2023
“Thank you to National ACE and Wells Fargo for supporting us with this grant. These funds will be important in supporting us as we still work to recover from the long-term effects of the pandemic,” said Yinjiao Zhong, owner of 98 Pounds, pictured above.
“The restaurant industry is still recovering from the effects of the pandemic and recent inflation. Grants like these are critical in supporting us as we move forward. Many thanks to National ACE and Wells Fargo!” said Aiming Chen, owner of Song Tea, pictured above.
The full list of winners will be 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