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Project Rebuild Small Business Grant & Assistance Program

The Greater Austin Asian Chamber of Commerce (GAACC) is proud to announce our partnership with the Asian American Business Development Center (AABDC) on the Project Rebuild Small Business Grant & Assistance Program.

With the support of Bank of America, all Austin-area AAPI-owned small businesses are invited to apply for the program. If selected, you will receive a $2,000 grant for your small business.

About the Project Rebuild Small Business Grant

Through support from Bank of America, 15 AAPI-owned small businesses will be selected to receive $2,000 in core operating capital support and ongoing technical assistance. The grant application window will be open between May 25 and June 9, 2023. It only takes 5-10 minutes to apply. Read below for information on grant criteria.

 

Technical Assistance Partners

These Technical Assistance Partners provide expert guidance on topics including financial management, legal assistance, marketing support, business best practices, city and state resources, and access to capital.

 

City of Austin Economic Development Department

 

Economic Growth Business Incubator

 

Leadership Austin

 

PeopleFund

 

Texas State University Small Business Development Center

 

DNA Productions

 

Bank of America

 

Grant Criteria

Those applying for the grant should meet the following requirements:

  • Be an AAPI-owned Business
  • Have not received a grant from AABDC before
  • Must have a physical address in the State of Texas (no PO Box)
  • Must be in business for more than two years, or at least since May 25th, 2021
  • Total annual revenue must not exceed more than $1 million

 

What qualifies as an AAPI-owned Business?

  • While we use the term “AAPI-owned” to denote qualified businesses, Asian/Pacific American (APA) or Asian/Pacific Islander (API) or Asian American and Pacific Islanders (AAPI) or Asian American and Native Hawaiians/Pacific Islander (AANHPI) are equivalent terms commonly used in the United States to denote Americans who trace their origin or ancestry to any of the 40+ countries found on the Asian continent or any of the 15+ countries located in the Pacific Ocean (including the U.S. state of Hawaii).
  • An AAPI-owned business must be 51% owned and controlled by someone who is Asian-American or Pacific Islander American.
  • A business can still be considered AAPI-owned if there are non-AAPI or even non-minority co-owners, as long as they don’t own more than 49%.

 

Since the number of grants available is limited to 15, further consideration will be given to business owners who share why support from this grant will have a meaningful impact on the business.

The application window is open from the evening of May 25 until 5 pm CDT on Friday June 9, 2023.