In response to the unprecedented coronavirus-caused disruption in economic activity, Asian American Chamber of Commerce has come out with support for Washington area businesses through guidance for access to emergency and relief packages at state and federal levels.
The Chamber has published its guidance that informs small businesses about eligibility and ways to access Small Business Association emergency loans under the $2.2 trillion CARES ACT.
In addition to posting the guidance on AACC website, the chamber remains in touch with its members in D.C. Maryland and Virginia via email, and also updates its social media platforms.
Besides online messaging, the Chamber also held a virtual town hall with entrepreneurs and business leaders to share information interactively.
“We know this pandemic has impacted your businesses in major ways,” AACC President Cindy Shao said while unveiling the guidance,” Shao, who founded the chamber a decade ago, says.
“We are happy to share key information explaining the two available loan options through the CARES Act that enables you to understand the possibilities, make decisions, and most importantly, get back to your business,” she adds.
Members of the AACC Executive Board and local business leaders are also focused on the endeavor to assist affected businesses.
Shao says the Chamber is in contact with state business and development bodies. For example, the AACC also shared the Montgomery County Council’s message on Emergency Relief Package for COVID-19 on its Facebook.
The Chamber this week also shared with its members the National Restaurant Association Has Launched Relief Fund announcement on new grant for restaurant workers as the hospitality industry struggles under the standstill.
Recently, the Chamber also encouraged its members to take part in a survey conducted by Virginia Department of Small Business and Supplier Diversity to compile data about COVID-19 impact on Virginia businesses.
Since Virginia is home to large Asian populations, the Chamber is also facilitating consultations in Chinese and Korean languages to help businesses understanding loan facilities under the CARES Act.
“Our foremost job is to help businesses, and right now we believe the best way is to facilitate the affected businesses is to facilitate affected businesses in the diverse communities to access relief packages and loans because small business success is the key to region’s growth,” Shao says.
