Project Rebuild Small Business Forum

May 25, 2023 5:00 PM - 7:30 PM (CDT)

Description

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 this event. You will receive:

• An opportunity to win a $2000 grant (application starts during the event).
• Free technical assistance from our valued partners, including financial management, legal assistance, digital and social media marketing, and access to capital.
• Networking with other small business owners and Austin's AAPI business community.

RSVP HERE

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. Access to the online grant application form will be provided during the event on July 17 and the grant application window will be open between July 17 and June 9, 2024. It only takes 5-10 minutes to apply. Read below for information on grant criteria.

Grant Criteria

Those applying for the grant should meet the following requirements:

• Must be an AAPI-owned Business
• Have not received a grant from AABDC before.
• Must have a physical address (no PO Box).
• Must be in business for more than two years, or at least since July 17th, 2022.
• 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. Applicants may include responses to the following:

1. How you will leverage the technical assistance and capital support for the greatest impact?
2. Which challenges or barriers to economic mobility have you faced?

Finally, for revenue verification, grant applicants will be asked to submit their business Income Tax Return (ITR). It is a good idea (though not required) to have those documents ready in digital form to submit during this event. You may also submit your application during the application window (July 17-June 9, 2024). 

Documents submitted should be for 2022 and can include:

• For Sole Proprietorships - Schedule C
• For Partnerships - Form 1065, Schedule K-1
• For Corporations - Form 1120
• For Limited Liability Companies (LLCs) - If taxed as "Corporation" - Form 1120; if taxed as "Single-member" - Schedule C; if taxed as "Multi-member" - Form 1065

GAACC Corporate Sponsors & Partners

The generous support of these sponsors and partners allows GAACC to continue delivering programs to members and to the public with the mission of Serving Local while Thinking Global, and to support our members through advocacy, education, and connections. Learn more about our partners.

THANK YOU!