Congressman Kim Helps Secure $2.5 Million in Grant Funding to Expand AANHPI Businesses’ Access to Capital and Loan Opportunities

WASHINGTON, D.C. – Today, Congressman Andy Kim (NJ-03) announced that the National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) was selected to receive $2.5 million in grant funding over four years from the Minority Business Development Agency’s Capital Readiness Program to support the success and growth of minority-owned businesses.

“From day one in Congress, I’ve been focused on making sure local businesses and minority-owned businesses have the access to capital and resources they need to thrive in our communities,” said Congressman Kim. “I am proud to have supported National ACE’s application for this federal program. Supporting organizations like National ACE helps uplift our diverse business communities across the country and ensures business leaders of all backgrounds get the support they deserve.”

“We’re honored to have been selected to receive a Capital Readiness Grant through the Minority Business Development Agency (MBDA), and we look forward to supporting the growth of AAPI entrepreneurs with the support of the grant. We’re grateful to our supporters, including Congressman Andy Kim (NJ-03) for their leadership and continued support of National ACE’s mission to support the growth and creation of more AAPI entrepreneurs. We look forward to working with Congressman Kim to ensure that AAPI businesses in NJ-03 and beyond have access to critical technical assistance resources that are being developed as part of the Capital Readiness Program,” said Chiling Tong, President and CEO of National ACE.

The four-year Capital Readiness Program provides technical assistance funding and helps expand access to capital with business coaching, build capacity through grant opportunities and connecting to loan lenders, and expand access to networks through various roundtables and business development events. The program specifically targets areas with a high concentration of AANHPI communities.

Congressman Kim was proud to work with National ACE to support their pursuit of this federal funding opportunity. If your organization or nonprofit is applying for a federal grant, our office has a dedicated Grants Director who is available to submit a letter of support on your behalf, connect you with a federal grant liaison to answer application questions, obtain feedback about a previously denied grant to strengthen your next application, or work with congressional liaisons to research potential federal grant opportunities.

If you are interested in receiving our monthly Guide to Grants newsletter with available nonprofit and governmental funding opportunities and grant-specific webinars from Congressman Kim’s office, please contact us at 202-225-4765 and ask to be added, or sign up here.

More information about Congressman Kim can be found on his website by clicking here.