Q: What are the AAPISTRONG: Small Business Grants?
The COVID-19 pandemic hit AAPI business owners across the country hard. Now as signs of recovery emerge, Asian and Pacific Islander Americans are starting new businesses at record rates. We recognize the power of Asian and Pacific Islander American entrepreneurs and have partnered with Meta and other community small business organizations to provide cast grants to help business owners get off the ground, innovate, and grow our economy. The AAPISTRONG: Small Business Grants will award Asian and Pacific Islander American-owned businesses cash grants and other valuable resources.
Q: I own several franchises, should each location apply separately?
No, please apply for all locations in one application.
Q: What is the last day to apply?
The application closes at 11:59PM on July 26, 2022.
Q: What are important deadlines?
Applications Open: July 11, 2022
Applications Close: July 26, 2022
Announcement of Winners: September 2022
Q: Who is eligible?
The eligibility criteria are:
● The business must be Asian American/Pacific Islander/Native Hawaiian (AAPI) majority-owned (51% or more AAPI-owned).
● The business must be based and operating in the United States.
● The business must currently be in operation.
● Your business is legal and for-profit
● For businesses that launched prior to 1 January 2020: Revenue of at least $100,000 in each calendar year 2019, 2020, 2021
● For businesses that launched on or after January 1, 2020 and by at least December 31, 2021: Must have average monthly revenue of at least $1K since launch
Q: What are you offering?
● $10,000 cash awards to provide momentum to 40 AAPI business owners who launched their businesses during the pandemic
● $25,000-$50,000 cash awards to 60 AAPI business owners who demonstrate momentum and strong potential where our backing could help take their vision to the next level
Q: How can a business apply?
Applications will open on July 11, 2022 via Submittable.
Q: Do I need to be a current Meta user to win?
No! Any applicant who meets the eligibility criteria can apply for the cash grants and other valuable resources.
Q: I am a non-profit organization. Are we eligible to apply?
Only for-profit businesses are eligible to apply to this program. If you are unsure about your eligibility status, please feel welcome to start an application and answer the eligibility questions to determine your status.
Q: What is the selection process?
After applications are screened for completeness and eligibility, they will be reviewed by a panel of judges.
Q: Will you provide feedback on applications that are not selected for funding?
Due to the high volume of grant proposals we receive, we may not be able to respond to individual requests for updates. However, you can check at any time on the status of your application via Submittable.
Q: What are my obligations as a grantee?
If you are chosen as a grant recipient, please be prepared to share your testimony on how the funding helped your business.
Q: How many winners are there?
There are 102 winners total.
Q: What is the amount of the grant?
The grant amounts vary. 40 AAPI business owners who launched their businesses during the pandemic will receive awards of $10,000, and 60 AAPI business owners will receive $25,000-$50,000.
Q: When will I be notified about the status of our application?
We will notify all applicants about the status of their submission in late September via the email provided in your application. Be sure to check your email regularly, including your junk folders. Email updates to all applicants will come from Submittable. If someone assisted you in the physical completion of the application form, please be sure to include their email address when asked. This will ensure they are able to receive a copy of the status email as well. Grant recipients may receive next steps from info@nationalace.org. Failure to reply promptly to next steps may result in disqualification from the grant program.
Q: Do grant funds need to be repaid?
No, grant funds do not need to be repaid. However, all taxes associated with the acceptance and/or uses of cash awarded are the sole responsibility of the individual grantee. Cash awarded will be reported by National ACE (Foundation) to the IRS as National ACE (Foundation) deems necessary according to applicable law. It is further the policy of National ACE (Foundation) that all grantees be advised to consult with their own tax professionals and/or legal counsel to ascertain the tax impact of the cash awards.
Q: What is National ACE?
National ACE’s mission is to serve as a strong advocate of Asian American and Pacific Islander (AAPI) business interests and affect positive change on all issues that enhance and advance the goals and aspirations of AAPI business owners, entrepreneurs and corporate leaders. We strive to do this through supporting and promoting issues that impact the AAPI business community, improving the economic development and economic impact of the AAPI community, advancing coalitions and enhancing community building, providing grants, and fostering the next generation of AAPI entrepreneurs and CEOs.
Q: What is Reimagine Main Street?
Reimagine Main Street, an initiative of the Public Private Strategies Institute, was launched in the wake of the shelter in place orders first announced in March 2020. Our goal is to ensure an equitable COVID recovery for small businesses and their workers on MLK Boulevards, Cesar Chavez Ways, Chinatowns, and Main Streets across the United States.
We support a network of small business advocates, service providers and lenders with data-driven insights into the needs and expectations of small business owners. When our research points to a clear need or opportunity, we work with our network partners to respond.
Q: Do I have to create a Submittable account to apply?
Yes, a Submittable account is required to apply, and free to make.
Q: Don’t see an answer to your question?
For grant-related questions, please contact info@nationalace.org.
For technical assistance, please view the Submitter Resource Center or contact Submittable Customer Support.
