NEW YORK, June 17, 2020 /PRNewswire/ -- The Asian American Business Development Center (AABDC) is proud to announce that it has been selected along with 100 Black Men and Hispanic Federation as partners by Hennessy in Unfinished Business, a new initiative that will dispense grants to Asian Americans, African Americans and Hispanic small businesses that apply for, and qualify, for funding.
Small businesses are the bedrock of the U.S. economic ecosystem, and are often the entry point for immigrants building new lives. The COVID-19 pandemic and recent civil unrest in America have dealt crippling blows to many small businesses, with minority communities bearing a disproportionate share of the impact.
Each organization will facilitate the distribution of $800,000 beginning in July, with applications open from June 22. In addition to capital, the initiative will also provide access to information, educational content and other assets to help safeguard continuity during and after the COVID-19 crisis.
"AABDC has long supported the spirit of entrepreneurism and business excellence in the Asian American community," said John Wang, founder and president of AABDC. "We have also championed the value of cross-cultural collaboration, and believe in actions that support other communities so that we can all progress together. In these difficult days, it's more important than ever to promote unity, and Hennessy's Unfinished Business aptly describes the hard work ahead for society to support each other and to move past differences and divisions."
The eligible expenses for which the grants can be applied include payroll and operating expenses, rent, mortgage payments and utility bills. Details on eligibility and how to apply for the grants can be found on [https://bit.ly/37uHAjm].
SOURCE Asian American Business Development Center